Hey I’m looking to to do a iron condor and I want to read about adjusting it wotha delta neutral stargety what and where can I read about it ?
read Taleb on Risk ... the fact you are asking such a question in a public forum says enough about your knowledge ...
I'm not sure what you are asking - you build your iron condor, and then the option trading platform/analyzer should spit out greeks for the combined position. You look at the net delta and buy/short the underlying to offset. So, if your analyzer says your IC position's delta is -0.2, then you buy 20 shares of the underlying stock to hedge. The trick here is that you have to continually monitor and adjust the delta hedge. The next day, your net delta (not including the hedge) moves to -0.17, so you have to sell 3 shares of the underlying to maintain the hedge. If you know all this, but are interested in the tradeoffs between higher transaction costs and a tighter hedge vs. lower transaction costs and a looser hedge, go to the Wilmott or NuclearPhynance forums to ask the more technical questions.