Iron Condor Strategy: The Complete Guide for 2026
The iron condor is the workhorse of options premium selling. It generates income in neutral, range-bound markets, benefits from time decay and volatility contraction, and offers a clearly defined maximum loss from the moment you put it on. Done right, it is one of the most repeatable strategies in a retail options trader’s playbook. Done carelessly, it becomes a machine for giving back months of premium in a single week. ...