SPX 0DTE Iron Fly

Same-day SPX iron fly. At 10:00 ET it sells the at-the-money call and put on today's expiry and buys a call and a put 40 points either side (defined risk). Each short leg is managed on its own: when it has decayed to 10% of its entry price, or risen to 1.5x its entry price, that short leg and its wing are closed. Everything closes at 15:45 ET or if the strategy loses Approx. $1,200 per multiplier. No re-entry. Times are US Eastern. Port of Tradetron's Intraday Nifty Iron Fly. Capital per multiplier: $4,000, the Reg-T margin for the fly (one 40-point wing; the credit received lowers it slightly).

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