We discussed about Iron Condor in Part-1. This is Part-2 in the same series that covers about when to sell and OTM or ITM?

After learning what is an Iron Condor, next thing one need to understand is how much time do we sell? You could sell an option with the highest theta, say expiration week? [...]

As my original Iron condor was not filled, I revised my Iron condor to shorter range. Though this is no my idea trade but I wanted to benefit from long weekend (due to theta decay). This was one of the most difficult fill for me for two reasons- 1) slow connection speed (I had extended [...]

RUT Iron Condor May 2007
 
Even though markets are little shaky currently, here is my thought for my bread-n-butter strategy i.e. Iron Condor.

Underlying: Russell 2000 index ($RUT)
Price: RUT @ 800
BUY: Call - May 07 880 call; PUT - May 07, 730
Sell:  Call – May 07 870 call; PUT – May 07, 740
Credit: $2.35 or better.
Margin: [...]