Paid Daily · Resources · Ask Plutus
Jim Schultz on Short Strangles vs Iron Condors, and When to Use Each.
NowPress play to follow along0:00 / 11:05
Chapters6 segments · tap to seek
ticker lesson
Breakdown
0:00lesson
Neutral premium selling strategies
- Sell premium on both market sides
- Target stock/index range staying
- Adjustments needed for range breaks
- Unlimited risk on strangles
- Defined risk via iron condors
1:43lesson
Short strangle mechanics
- Sell call at 1 std dev above
- Sell put at 1 std dev below
- Adjustments for directional moves
- Unfiltered theta/vega exposure
- Undefined risk on both sides
3:22lesson
Iron condor vs short strangle
- Iron condors cap risk with wings
- Less theta/vega exposure
- Beginner-friendly defined risk
- Requires more capital
- Set it and forget it
4:48GDXJ· ticker
GDXJ strangle setup
- Sell 83 put (15-17 delta)
- Sell 115 call (21-24 delta)
- Net delta -7
- Credit collected $4
- Buying power $1k
6:38GDXJ· ticker
GDXJ iron condor setup
- Buy 78 put (capped downside)
- Buy 121 call (capped upside)
- Credit collected $1.50
- Theta reduced to $2/day
- Defined risk profile
8:28lesson
Strategy selection criteria
- Beginners use iron condors
- Experienced use short strangles
- Smaller accounts prefer condors
- More capital allows strangles
- Skill level impacts complexity
Informational only — this is tastylive’s content, decoded by Plutus. Not Paid Daily’s advice or a recommendation. The outline, timestamps, and claims are extracted from what the creator said; verify before acting.