Add training workflow, datasets, and runbook
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Iron Condor
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An iron condor is similar to a condor, but with a mix of both calls and puts.
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Essentially, the condor and iron condor are synthetically the same.
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Short Iron Condor
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Long one put with strike A; short one put with a higher strike, B; short one
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call with an even higher strike, C; and long one call with a still higher
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strike, D. The options are on the same security and in the same expiration
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cycle. The put credit spread has the same distance between the strike prices
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as the call credit spread.
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Short Iron Condor Example
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Buy 1 XYZ November 70 put (A)
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Sell 1 XYZ November 75 put (B)
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Sell 1 XYZ November 90 call (C)
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Buy 1 XYZ November 95 call (D)
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Long Iron Condor
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Short one put with strike A; long one put with a higher strike, B; long one
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call with an even higher strike, C; and short one call with a still higher
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strike, D. The options are on the same security and in the same expiration
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cycle. The put debit spread (strikes A and B) has the same distance between
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the strike prices as the call debit spread (strikes C and D).
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Long Iron Condor Example
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Sell 1 XYZ November 70 put (A)
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Buy 1 XYZ November 75 put (B)
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Buy 1 XYZ November 90 call (C)
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Sell 1 XYZ November 95 call (D)
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