An Iron Condor is a bet that a stock is going to be boring. You are essentially drawing a "safe zone" or a channel around the current stock price.
You combine a Call Credit Spread (betting it won't go too high) and a Put Credit Spread (betting it won't go too low) at the same time. As long as the stock price stays inside your safe zone until expiration, you get to keep the combined cash premium from both sides.
During periods of market consolidation, or right after a big earnings event when you expect a stock's massive price swings to finally calm down.
Our backend identifies "Volatility Crush" scenarios. We look for stocks with historically high volatility that our models predict are about to revert to the mean.
Vectorized screener for Iron Condors is currently in development...