A Tasty Standard - 45 DTE SPX Iron Condors

Same trade at 4dte, but 3:2 calls to puts gets it back to 0 upside risk

so, it was a Mar15 IC, put on Apr16 when SPX was at 6755, 6480/6460 puts and 7360/7380 calls. I took off the puts at 90c net gain today. And the calls are a few bucks under water. Relentless bull market is not where you want to run ICs - better to just iteratively sell the put spreads. But, I will see if I can still make money on it. Probably will hold calls thru to Monday And see if anything happens that produces a red daily candle. Since Mar30@ /ES, 23 trading days, there have been 4 red candles.

@ 4/15, when I put on the IC, it was on the 12th consecutive green day. It went on to do 15 straight, which was an all time record.

Interesting! I got into Options last year right before the Trump Tariffs. My first foray into trading was Forex 15 years ago. I actively avoided Options due to the complexity (long call and put, short call and put, greeks, assignment!) but finally got into it last year. I also learnt TastyTrade mechanics. My main 2 strategies are the Wheel and LEAPS PMCC and i use 45DTE too (sweet spot).

I will read through the many pages of your 45 DTE Iron Condors later on.

P.S. If you have a sizable capital and don't be a WSB retard, it's surprising how easily you can make some serious change with Options (or even Stocks). Consistency with Forex is a tough nut to crack but it's a first love. Can't quit it.

Hi Cliff. If you read the sad history here you will see that I absolutely suck at trading ICs. I have a great knack for putting them on in the middle of epic bull runs, then rolling for months. The May15 IC above an example. If there is no pullback Mon-Tues, I will roll that up and out to early June, somewhere above 7450, for close to a wash. If there can be a decent red candle early next week, I'll sell some May15 bull puts into that, somewhere around 6900. Might lock in another dollar.

In this market, selling put spreads only is the way to go, or doing Jade Lizards with risk-free upside.

Tell me about it brother. When other people sell covered calls, they sell right at the peak at 0DTE. I a sell a 45DTE CC and immediately get bulldozed and i got to roll my ass out only to some scrap through with maybe half the loss while my 100 shares or LEAPS gains massive value but it's either capped by the losing CC or i'm actually underwater due to selling a CC below cost price.

Aren't Iron Condors just a Put Spread and Call Credit Spread combined? Again, other people have over 90% winrate with credit spread and i get assigned by my credit spreads. -_-"

Gimme a moment. Going to read your "sad" history of iron condors LOL.

catch up later, Cliff - lots to do this weekend.

May15 IC, bot back the bull puts for 90c profit last week, today sold them again - May15 6780/6760 for 85c. Sitting tight on May15 7350/7370 bear calls.