Ok i opened an IB account with 25k fund to be used exclusively for writing options on es futures for monthly income. Since options on es have pretty low margin requirement, i will trade up to 10k requirement, and leave the rest 15k as buffer (40%). Assume JUN ESM8 at 1312, april expiration, and current market condition 1) which is the better trade? lower probability vs tighter max loss limit. - SELL 1150P, BUY 1040P: net: $4.5 - SELL 1200P, BUY 1150P: net: $4.7 - SELL 1250P, BUY 1225P: net: $4.5 2) Which is the better strategy? - otm iron condor: SELL 1200P, BUY 1150P, SELL 1400C, BUY 1450C. The plan for this is not to adjust it constantly and has a high probability of expire worthless, but less total premium - SELL 1250P (18 pt premium), delta neutral hedge by shorting the ESM8 underlying, 15pt stop loss on the ESM8 in case of gap up. This will require constant adjustment based on events/news, the biggest risk is the ES gapping up like it did on tuesday. - otm strangle: SELL 1150P, SELL 1440C. Risk of course is same as naked writing, but since it's an relatively predictable index and both strikes are way OTM, chances of a blackswan with no time for adjustment is pretty low. - your strategy... 3) For april, i wrote the otm iron condo, max loss 42.5pt & max profit 9.5 per contract. What i found odd was the otm iron condo had a bid 8.2, ask 10.5. So i put in a limit for 9.5 credit, and it got filled in like 1 sec. Did i just got lucky, or was there some trick involved? Should i set my limit higher next time than the midprice on those options?