01 — SPY · IRON CONDOR

Best SPY 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.

Deep liquidity and broad macro sensitivity, useful for probability-based structures.

Find the best strikes →FREE · 20 ANALYSES/DAY · NO CARD
SPDR S&P 500 ETF Trust
Index ETF
SPY
$769.36+0.9% / 30d
IV rank (1y)
22.1% · low
Option vol
6752K /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
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Top pick · 4-leg iron condor
$742/$752P + $793/$803C · Nov 20
22 DAYS · BOTH WINGS 10 WIDE · SELL TO OPEN
Credit
$337
Return
50.83%
PoP
61%
WingsExpirationCreditReturn ↓PoP
$747P / $798C
10 wide wings
Dec 4
36 days
$296
$2.96 / share
42.05%61%
$748P / $797C
10 wide wings
Nov 30
32 days
$288
$2.88 / share
40.45%63%
$751P / $794C
10 wide wings
Nov 20
22 days
$277
$2.77 / share
38.31%63%
$739P / $806C
9 wide wings
Nov 27
29 days
$246
$2.46 / share
37.61%74%
$750P / $795C
10 wide wings
Nov 27
29 days
$273
$2.73 / share
37.55%61%
$747P / $798C
10 wide wings
Nov 27
29 days
$271
$2.71 / share
37.17%65%
$745P / $800C
10 wide wings
Dec 4
36 days
$264
$2.64 / share
35.87%63%
$746P / $799C
10 wide wings
Dec 4
36 days
$260
$2.60 / share
35.14%62%
$750P / $795C
10 wide wings
Nov 20
22 days
$254
$2.54 / share
34.05%65%
10 of 48 matchesCustomize filters →

03 — Strategy

Iron Condor, plainly explained

Traders expecting consolidation and seeking bounded risk/reward.

P&L at expiration · $742/$752P + $793/$803C · 22 DTE

$0+$337−$663$742$752P$793C$803

Key numbers

Premium collected+$337
Max profit+$337
Max loss−$663
Profit zone$748.63 — $796.37
Probability of profit61%
Days to expiration22

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 SPY.

      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.