re: Options Trading Thread

Absolutely. Become well versed in and comfortable with credit spreads before getting into multi leg strategies. But with credit spreads and iron condors (which are really just two opposite credit spreads layered on one another), you’re mainly looking for underlyings that have relatively high volatility and IV percentile (which just says where the current IV is in comparison to the last 52 weeks of its implied vol) - higher, the better. Although be careful of “trash” underlyings (like most of the meme stocks from a couple of years ago) that have insanely high IVs for a reason. They’re like land mines with candy bars on top.

But this is a learning process and you’re doing fine. But do delve into IV and how the deltas work, especially around earnings time. That’ll really help you.