Iron Condor Option Strategy comes into the picture when you’re anticipating minimal movement on the stock/index within a specific time frame and the best part is your risk is pre-determined.
Typically Iron Condor involves selling one call while buying another call with a higher strike and selling one put while buying another put with a lower strike of the same expiration month.
Iron Condor Spread
Procedure to Setup Iron Condor Spread
1.Download Iron Condor Spread.afl code to Amibroker/Formulas/Options Spread directory
and Unzip the file. Create Options Spread Directory if it doesn’t exist.
2.Open Amibroker->File->Open New Blank Chart
3.Now on the Left Pane goto Charts->Option Spread and drag and drop Bear Iron Condor Spread to the blank chart.
4.Bingo! you got the Spread chart.
5.To Change the spread right click over the charts and goto Parameters where you have control to change the Put strike A, Put Strike B, Call Strike C and Call Strike D prices as shown below
Iron Condor Spread Settings
Realtimedatafeed for Amibroker which Supports NSE Options.
Visit here to download Bear Call Spread and Bear Put Spread – Amibroker AFL code