A template for Iron Condors
Written on June 17, 2008 by OptionsRopeaDope
Iron Condors have been my bread and butter trades for a long time, and I think I will always do the “low probability” variety each month. My rules are fairly simple - aim for placing the short strikes at a 7-9 delta, shoot for a minimum of 10% of a credit, and manage as necessary. Nevertheless, in pursuit of gaining a better understanding of the forces impacting condors (such as, they perform best when volatility is decreasing), and more importantly, to keep myself out of hairy situations unnecessarily, I developed this template to use prior to opening a trade.
| Symbol | |
| Current Price | |
| Current IV | |
| IV Percentile - last 12 months | |
| IV Percentile - last 6 months | |
| Technical Support/Resistance | |
| Opening Strikes | |
| Deltas of Shorts | |
| % distances from underlying | |
| Opening Credits | |
| Initial Margin Req. | |
| Break Evens | |
| Srikes w/current delta of 20/-20 | |
| Prob of expiring w/o adjustments | |
| Profit Traget | |
| Max Loss | |
| Earnings/news catalyst before exp? | |
| Risk Graph |
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Posted in Trading Rules, Iron Condors
Thanks for sharing the template.
I would like to know which website or resource you use to get the following values
IV Percentile - last 12 months
IV Percentile - last 6 months
Cheers
-bob
Bob,
I get that information from Think or Swim - on the charts tab I add implied and historical volatility studies, and bring up the 6 month and 1 year charts.
You could also get the information from ivolatility.com .