Selling the Iron Condor is one of the most popular strategies for the experienced options trader who is looking for "yield" in their investment portfolios. Most people do not realize that it is simply a form of volatility" trading. In particular, they are "selling" volatility. Very few people trade iron condors as a way of getting "long" volatility as they usually choose to buy straddles or strangles to do that.
During our presentation at the Traders Expo in NY, a number of people asked me questions about the use of iron condors both during the Q&A and during one on one conversations. As a result, I thought this might be a good time to discuss the iron condor particularly because this may not be the best time to sell Iron Condors on the popular ETFs designed to mimic stock averages like SPY or IWM.
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