Does anyone trade Iron Condors in IB? Do they margin one side or both?
I know this question has already been discussed on ET but maybe something has changed since then.
I sent this question to them and this is what they replied:
"Although the option margin optimization software is designed to recognize Iron Condors and assess the account the margin requirement for either the put spread or the call spread, there is no guarantee that an Iron Condor position will be recognized in all circumstances. In those circumstances where the Iron Condor is not recognized the account will be assessed higher margin requirements, such as the sum of the margin requirements for the put spread and the call spread."
This is kind of a vague reply. What are the circumstances when IC is not recognized as such? Does anyone have any hands on experience? Is there anyone from IB (Def?) who can provide a more clear answer?
I have found that Thinkorswim is the best broker for the Iron Condor. They seem to understand the concept behind the trade and that you can't lose on both sides. Optionsxoress seeems capable in this departemnt as well, but I still like TOS for condors. Their sotfware allows you to acutally analyze and place condor trades if you wish.