Find Iron Condors That Actually Pay
Stryke prices every four-leg iron condor across the US options market live and ranks the best ones by expected value, probability of max profit, and credit-to-width ratio.
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What the screener shows
- All four strikes with their bid and ask
- Net credit, max profit, max loss, and breakevens
- Expected value computed from a 200-step lognormal integration
- Probability of max profit and probability of max loss
- IV Rank, Stock Score, and earnings flag for the underlying
A practical workflow
- Filter for IV Rank above 40 so the credit is worth collecting
- Pick 30 to 45 days to expiry to balance theta and gamma
- Target short strike deltas around 0.15 to 0.20 each side
- Keep wing width consistent so the risk-reward is comparable across names
- Avoid expiries that contain earnings unless you are explicitly selling event premium
Our proprietary tools
Built for traders who want institutional-grade screening without the institutional price tag. Live data, real Greeks, real volatility, all in one place.
FAQ
What is an iron condor?
An iron condor is a four-leg strategy that sells an out-of-the-money put spread and an out-of-the-money call spread on the same expiry. It profits when the underlying stays inside the short strikes.
How does Stryke pick the strikes?
Stryke builds every valid four-leg combination inside your filters (DTE, deltas, wing width) and ranks them by expected value, profit ratio, and probability of max profit.
What credit and width should I target?
A common rule of thumb is to collect at least one-third of the wing width as credit. Stryke surfaces the credit-to-width ratio so you can sort by it directly.
What about earnings risk?
Iron condors held through earnings can blow past the wings overnight. Stryke flags upcoming earnings inside the expiry so you can decide whether to take or avoid that gap risk.
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