SPX 0DTE Iron Condor

Same-day SPX iron condor. At 10:00 ET it sells the 0.12-delta call and the -0.12-delta put on today's expiry and buys a call 25 points above and a put 25 points below them (defined risk). Each side is managed on its own: if a short leg doubles from its entry price, that side (short and wing) is closed. The whole condor closes at 15:45 ET, or once it has captured 50% of the credit received, or if the strategy loses Approx. $1,500 per multiplier. No re-entry. Times are US Eastern. Capital per multiplier: $2,500, the Reg-T margin for the condor (one 25-point wing; the credit received lowers it slightly).

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