A short iron condor involves four options with the same expiration: a long put, short put, long call, and short call. Maximum profit is limited to the premium received, with a capped maximum potential loss. Traders should have a neutral outlook and consider high implied volatility. Barchart’s Short Iron Condor Screener shows trades on AAPL, NVDA, TSLA, AMZN, and PLTR.

For an iron condor on Apple, using the November 21st expiry, selling the $195 put and buying the $180 put, then selling the $285 call and buying the $300 call, results in a price of $0.60. The maximum risk is $1,440 with a total profit potential of 4.17% and a loss probability of 6.7%. The profit zone ranges between $194.40 and $285.60.

The Barchart Technical Opinion rating for Apple is a 64% Buy, with an IV Percentile of 80% and IV Rank of 27.99%. Earnings risk is present with Apple due to report Q3 earnings on October 30th.

For an iron condor on Nvidia (NVDA) for the November 21st expiration, selling the $130 put, buying the $120 put, selling the $230 call, and buying the $240 call results in a maximum profit potential of $58 and maximum risk of $942. The profit zone ranges between $129.42 and $230.58.

Mitigating risk is essential with iron condors, as they are risk defined trades. Setting a stop loss of 25-30% of the max loss is advisable. Early assignment risk should also be considered if the stock breaches the short strike near expiry. Remember, options trading carries risks, and investors can lose 100% of their investment.

Read more at Yahoo Finance: Iron Condor Screener Results for October 15th