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Iron Condor

An iron condor is very similar to a strangle in the sense that it is delta neutral, but an Iron Condor is a defined risk trade. An iron condor is constructed by selling an out of the money (OTM) call and an OTM put, and then buying a call and put further OTM.

Max profit is received at expiration if the stock price is between the short strikes.

Check out our dough blog post article on iron condors to learn more!

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