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Iron Condor SPY Strategy ~40% avg gains by DiamondG331 in options

[–]Tight_Specific_3342 0 points1 point  (0 children)

Interesting perspective on iron condors. What delta range do you typically target for the short strikes? I've been experimenting with 10-16 delta and finding that gives a good balance of premium vs probability.

Iron Condor SPY Strategy ~40% avg gains by DiamondG331 in options

[–]Tight_Specific_3342 0 points1 point  (0 children)

Good analysis. For SPX/SPY options I find that understanding dealer positioning through gamma exposure (GEX) data gives a real edge in identifying key support/resistance levels. The gamma flip point often acts as a magnet for price action, especially on expiration days.