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SPY Iron Condor

NEUTRAL Expiry 2026-04-30 · 17 DTE Spot $679.46
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Trade Metrics
Max Profit $315 per contract
Max Loss $685 defined risk
Net Credit $3.15 collected upfront
Win Rate 79% probability of profit
Reward : Risk 0.46× credit / max loss
Trade Legs
Each leg represents one options contract. Sell legs collect premium; buy legs define your risk boundary.
ActionTypeStrikeBidAskMidDeltaIV
BUY PUT $640 $1.93 $2.02 $1.98 -0.113 23.4%
SELL PUT $650 $2.91 $3.00 $2.96 -0.165 21.9%
SELL CALL $695 $3.05 $3.14 $3.09 0.253 13.8%
BUY CALL $705 $0.92 $0.93 $0.93 0.104 12.4%
Gamma Wall Analysis
Where market makers hedge — the stock tends to stay between these walls.
Put Wall$650
Call Wall$685
Band Width5.2%
Confidence30%
Technical Snapshot
Key indicators for timing and direction confirmation.
RSI (14)65.3Neutral
TrendNeutral
ATM IV20.1%
VolatilityNormal
Bollinger Bands
Upper$685.94
Middle$659.04
Lower$632.13
Support & Resistance
Support$631.97
Resistance$695.49
SMA 50$674.00Above
SMA 100$678.64Above
AI Insight

SPY Iron Condor $3.15 credit 0.46× R/R · 79% PoP — neutral bias, gamma wall protected

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Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Options trading involves significant risk and is not suitable for all investors. Past performance does not guarantee future results. Always do your own research and consult a licensed financial advisor before making trading decisions.