NEUTRAL Strategy
Iron Condor
Live Iron Condor Setup for ARCB
What is a Iron Condor?
An Iron Condor is a non-directional strategy that profits when the stock price stays within a specific range. It combines a bull put spread and a bear call spread.
When to Use It
Use when you expect low volatility and the stock to stay range-bound through expiration.
Advantages
Defined risk
High probability of profit
Profits from time decay (theta)
Disadvantages
Limited profit potential
Risk/reward ratio is often low
Pro Tip
ARCB IV Rank:
3%
(Very Low (cheap options))
Ideally placed when Implied Volatility (IV) is high and expected to revert to the mean.
Low IV
High IV
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Visualize the Iron Condor levels directly on your TradingView chart with this custom indicator snippet.
//@version=5
indicator("Iron Condor Profit Zones", overlay=true)
// Inputs
sc = input.float(105.0, "Short Call Strike")
lc = input.float(110.0, "Long Call Strike")
sp = input.float(95.0, "Short Put Strike")
lp = input.float(90.0, "Long Put Strike")
// Colors
color_profit = color.new(color.green, 85)
color_loss = color.new(color.red, 85)
// Drawing Levels
plot(sc, "Short Call", color.red, 2, plot.style_linebr)
plot(lc, "Long Call", color.red, 1, plot.style_linebr)
plot(sp, "Short Put", color.green, 2, plot.style_linebr)
plot(lp, "Long Put", color.green, 1, plot.style_linebr)
// Fill Zones
fill(plot(sp), plot(sc), color_profit, "Profit Zone")
fill(plot(sc), plot(lc), color_loss, "Call Risk")
fill(plot(lp), plot(sp), color_loss, "Put Risk")
How to use: Open the "Pine Editor" at the bottom of your TradingView chart, paste this code, and click "Add to Chart".