Iron Condor Money management

Discussion in 'Options' started by slait73, Nov 15, 2009.

  1. slait73


    I´d like to discurse obout the way of gettig out the IC to minimize looses

    To me the problem of Ic´s is that there´s no clear MM.

    Starike touching, delta aproaching, skewed IC depending of tendence.

    I read a lot of how to get in th IC, but ideas about gettin out to get in brek even seems more diffuse.

    Seems don not let the threatened sread worth the double of the give credit it´s effective. Others look about delta 20 or 25 to get out.

    ¿Anybody uses some other way? I need some ideas. After some months of good results selling ICs I had an horrible last month ...

    Thans for your time.
  2. slait73


  3. What underly are you trading the ICs on?
  4. slait73


    On RUT or NDX
  5. Dan Sheridan gives excellent guidelines for iron condor management and adjustments in his archived webinars on or

  6. There is no BEST method.

    You want to find something that feels comfortable to you. If you exit too quickly, you will never make any money.

    If you hold too long, you will lose money also.

    You have the choice of closing a portion of your position when the delta reaches 35 or 40 (or any other number that suits you). Then close more if delta moves another 5 units.

    At some point you want to be out. But only you can decide that point.

    If your positions make you nervous and you canot sleep well - then you are way beyond the point at which you should exit.