What should be the delta value to deploy the Iron Condor strategy

I am working on Iron Condor strategy. I back tested the Iron Condor with 25-30 delta value. But my trades for 3-4 month gave a negative result. Even I checked with and without the adjustments.

Please some one suggest/help to success in Iron Condor.

2 Likes

Use 20 Delta and Hedge with 5 Delta. 20 Delta gives 1 Sigma stretch. Maintain 20 Delta as and when the premiums get double of the profitable leg. Exit when you get half of the max profit.

1 Like

Converted short iron condor into long iron condor

I initially created a short iron condor strategy in Nifty when it was trading at 24,200, with breakeven points at 23,970-24,480. However, when Nifty moved above my range to 24,520, I adjusted the position by squaring off the put side. Now, my strategy has turned into a long iron condor. Can someone explain what happened?
(I am attaching the screenshot for the same, in the left column in the screenshot the strikes with red mark are the ones which I closed and initiated new ones)

God bless you dear.

Thanks Prashant ji for such valueable knowledge. God bless you

Thanks to all the wonder people for sharing their valuable knowledge… God bless you