It’s not really a big deal. You just bought a call condor instead of iron.
Only thing to be aware of is, it’s quite possible your lower strike calls will end ITM. You’ll want to close these out before cob on Monday to avoid any uncertainty surrounding exercise and assignment.
Medium_Sea6506 on
If you are on right side , should not be a problem
thatstheharshtruth on
It’s called a long call condor and has the same PnL profile as an iron condor at the same strikes. But there is higher early assignment risk due to a short leg in the money from opening.
leaveafterappetizers on
So you spent $59 on this thing?
Iron condors are a time decay strategy. Idk why you would ever buy one.
No_Hat9118 on
Dude, shud be able to figure that in 2mins with an Excel sheet
Various-Ducks on
You’re going to jail
Striking-Block5985 on
An true iron condor is made up of calls and puts not all calls
that look more like a butterfly or a condor but without an exact tip , so the middle point is not at same strike so it is a condor, very similar
7 Comments
It’s not really a big deal. You just bought a call condor instead of iron.
Only thing to be aware of is, it’s quite possible your lower strike calls will end ITM. You’ll want to close these out before cob on Monday to avoid any uncertainty surrounding exercise and assignment.
If you are on right side , should not be a problem
It’s called a long call condor and has the same PnL profile as an iron condor at the same strikes. But there is higher early assignment risk due to a short leg in the money from opening.
So you spent $59 on this thing?
Iron condors are a time decay strategy. Idk why you would ever buy one.
Dude, shud be able to figure that in 2mins with an Excel sheet
You’re going to jail
An true iron condor is made up of calls and puts not all calls
that look more like a butterfly or a condor but without an exact tip , so the middle point is not at same strike so it is a condor, very similar