what adjustment would you use in current market conditions to hedge a iron condor? and don't say "close" as its not an option
Ask yourself this. "Would I sell the exact same condor I have on now if I had no position?" Yes = hedge your deltas No = close position
Yikes. Close that position asap. Learn as much as you can before you dabble in one of the hardest games in the world. Youtube will help you regarding hedging your greeks
One of the most effective ways to hedge deltas in high volatility can be unbalanced condors or broken wing butterflies. Hope this helps
Trade other options or stock to cut your delta. IMO, a condor is a hedged position. If you have to hedge it, you have to consider you made a mistake and reduce or exit. Saying ""close as its not an option" is just silly. Taking losses is part of the business of trading.
Thanks this does look very useful where would you place it at the strike price or where the market is currently?
Rather than thinking in terms of an iron condor, you might examine whether to trade matched-margin vertical spreads on each side of the market. When the market tanks, write the bottom. When the market spikes, write the top. You'll end up with an UC, but with much better positioning. (And, better sleep. )