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Options Jive

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Strangles vs Iron Condors

Options Jive

Options involve risk and are not suitable for all investors. Please read Characteristics and Risks of Standardized Options before deciding to invest in options.

Iron condors and strangles are both delta neutral strategies. What are the advantages of each?

Advantages of Iron Condors:

  • Higher capital efficiency
  • Limited risk

Advantages of Strangles:

  • Higher POP
  • Higher credits

Risk defined strategies provide higher return on capital, as well as limited losses for each trade. Conversely, naked options require much more buying power and are a great way to scale up your position size. Both strategies provide their own unique benefits and can be used together in a short premium portfolio.

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