01 — IWM · IRON CONDOR

Best IWM iron condor setups.

Pick how long you want to wait and how much risk you'll take. We score every live strike across the next 3 expirations and surface the top setups — updated hourly.

Small-cap beta exposure with macro-sensitive implied volatility behavior.

Find the best strikes →FREE · 20 ANALYSES/DAY · NO CARD
iShares Russell 2000 ETF
Index ETF
IWM
$284.01+2.2% / 30d
IV rank (1y)
31% · moderate
Option vol
761K /day

02 — Live setups

Suggested strikes

Choose your time horizon and risk band. Every match is scored on return, premium, and probability of profit.

Days to expiration
Probability of profit
Sort by
Top pick · 4-leg iron condor
$263/$268P + $295/$300C · Dec 4
36 DAYS · BOTH WINGS 5 WIDE · SELL TO OPEN
Credit
$166
Return
49.7%
PoP
61%
WingsExpirationCreditReturn ↓PoP
$269P / $294C
5 wide wings
Nov 27
29 days
$159
$1.59 / share
46.63%62%
$267.5P / $295C
5 wide wings
Dec 4
36 days
$149
$1.49 / share
42.45%61%
$270P / $293C
5 wide wings
Nov 20
22 days
$140
$1.40 / share
38.89%63%
$269P / $294C
5 wide wings
Nov 20
22 days
$128
$1.28 / share
34.41%66%
$267.5P / $295C
5 wide wings
Nov 27
29 days
$128
$1.28 / share
34.41%66%
$268P / $295C
5 wide wings
Nov 27
29 days
$126
$1.26 / share
33.69%65%
$267P / $296C
5 wide wings
Dec 4
36 days
$123
$1.23 / share
32.63%63%
$266P / $297C
5 wide wings
Dec 4
36 days
$113
$1.13 / share
29.2%66%
$265P / $298C
5 wide wings
Dec 4
36 days
$109
$1.09 / share
27.88%68%
10 of 27 matchesCustomize filters →

03 — Strategy

Iron Condor, plainly explained

Traders expecting consolidation and seeking bounded risk/reward.

P&L at expiration · $263/$268P + $295/$300C · 36 DTE

$0+$166−$334$263$268P$295C$300

Key numbers

Premium collected+$166
Max profit+$166
Max loss−$334
Profit zone$266.34 — $296.66
Probability of profit61%
Days to expiration36

When this trade makes sense

Use when

    Avoid when

      Read the full iron condor guide →

      05 — RUN IT LIVE

      See the highest chance of profit on IWM.

      Option Agent scans live chains and recommends setups based on current market conditions.

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      Option Agent is not a registered investment advisor, broker-dealer, or financial planner. All analysis, recommendations, and data are for informational and educational purposes only and do not constitute personalized investment advice. Options trading involves substantial risk of loss and is not suitable for all investors. Past probability calculations do not guarantee future results. Consult a qualified financial advisor before making investment decisions.