IRON CONDOR STANDARD OPERATING PROCEDURE

#

CAPITAL & POSITION RULES

#

ENTRY RULES (ALL MUST BE TRUE)

#

Market Context

• VIX: 14-25 (not below, not above)
• SPY above 50-day MA
• SPY above 200-day MA
• No FOMC/CPI/Jobs in 48 hours
• VIX term structure in contango

Position Setup

• DTE: 30-45 days
• Short strike delta: 0.14-0.18 per side
• Wing width: $5
• Total credit ≥ 12% of width ($0.60+ on $5)
• Open interest ≥ 1,000 per leg
• Bid-ask spread ≤ $0.05 per leg

Risk Check

• Max loss ≤ 2% of portfolio
• ≤ 6 open positions
• Not revenge trading

STRUCTURE TEMPLATE

#

SPY @ $594 Example:

Long Put:   $565  ─┐
Short Put:  $570  ─┘ Bull Put Spread (below market)

Short Call: $615  ─┐
Long Call:  $620  ─┘ Bear Call Spread (above market)

Credit: ~$0.70 ($70/contract)
Max Loss: $5.00 - $0.70 = $4.30 ($430/contract)

EXECUTION RULES

#

MANAGEMENT RULES

#

Take Profit

• Close at 50% of max profit
• OR close at 21 DTE if profitable
• Whichever comes FIRST

Stop Loss

• Close at 2× credit received
• Example: $0.70 credit → stop at $2.10

Rolling (If Needed)

• Only roll untested side
• Only roll for NET CREDIT
• Max 2 adjustments per trade
• Max 60 DTE total duration

DAILY CHECK (3 MINUTES)

#

HARD NO RULES

#

EXPECTED RESULTS

#

ADJUSTMENT QUICK REFERENCE

#

SPY drops toward put strike: → Roll call spread DOWN for credit

SPY rallies toward call strike: → Roll put spread UP for credit

Can't roll for credit? → Close entire position at defined loss

THE GOLDEN RULE

#

QUICK REFERENCE LINKS

#

• 📖 Full Strategy Guide - Complete research and examples
• 📋 Entry Checklist - Detailed criteria
• 📊 Workflow Guide - Daily/weekly routines

Print this. Follow it. Every. Single. Trade.

Last Updated: 2026-01-19

Part 1: Weekly Planning Workflow

#

Sunday Evening: The Week Ahead (15 Minutes)

#

Before the market opens Monday, I review the landscape.

  class="pe-3 flex items-center" style="color: #ffc107"

>

  style="color: #fff3cd"

><p><strong>This Week's Events (Example):</strong></p>

═══════════════════════════════════════════════════════
         WEEK OF: ____________ TRADE PLAN
═══════════════════════════════════════════════════════

CURRENT PORTFOLIO STATUS
Open Iron Condors: _____ / 6 max
Capital deployed: _____% (target: 30-50%)
Cash buffer: _____% (minimum: 20%)

ECONOMIC CALENDAR SUMMARY
Major events: ________________________________
Safe entry days: _____________________________
Days to avoid: ______________________________

VIX ASSESSMENT
VIX Spot: _______
Structure: Contango / Backwardation
Regime: Calm / Elevated / High

PLANNED ENTRIES THIS WEEK
□ Entry 1: _______ (day/time)
   Target expiration: _______
   Contracts: _______

□ Entry 2: _______ (day/time)
   Target expiration: _______
   Contracts: _______

POSITIONS TO CLOSE
□ IC #___: Close when _______
□ IC #___: Close when _______

ADJUSTMENTS NEEDED
□ IC #___: Roll _______ if _______

═══════════════════════════════════════════════════════

Part 2: Trade Entry Workflow

#

Step-by-Step Entry Process (10-15 Minutes)

#

When I'm ready to enter a new Iron Condor, I follow this exact sequence.

Step 1: Final Market Check (2 Minutes)

#

□ SPY current price: $_______
□ SPY vs 50 MA: Above / Below (need ABOVE)
□ SPY vs 200 MA: Above / Below (need ABOVE)
□ VIX current: _______ (need 14-25)
□ Any breaking news? NO / YES: _______

All clear? → Proceed to Step 2
Any issues? → STOP, reassess

Step 2: Identify Target Expiration (1 Minute)

#

My Standard: 30-45 DTE

Example: Today is Jan 19. I'm looking at Feb 21 (33 DTE) or Feb 28 (40 DTE) expirations.

Step 3: Build the Option Chain View (2 Minutes)

#

In your broker platform, set up the chain to show:

Chain Setup Screenshot Reference:

PUTS                              CALLS
OI    Vol   Bid   Ask  Delta  Strike  Delta  Ask   Bid   Vol    OI
5420  892  0.85  0.88  -0.08   560   0.08   0.45  0.43   445  3210
4890  756  1.08  1.12  -0.10   565   0.10   0.52  0.49   523  2980
6230  934  1.35  1.40  -0.12   570   0.12   0.61  0.58   612  4120
7840 1245  1.72  1.78  -0.15   575   0.14   0.73  0.70   734  5430  ← Target zone
8920 1456  2.15  2.22  -0.18   580   0.17   0.88  0.84   856  6120  ← Target zone
...
                                 594 ← CURRENT PRICE
...
5670  823  0.78  0.82   0.15   610   -0.16  1.95  1.88   912  5890  ← Target zone
4230  712  0.58  0.62   0.12   615   -0.13  1.52  1.46   678  4560  ← Target zone
3450  534  0.42  0.46   0.09   620   -0.10  1.18  1.12   534  3120

Step 4: Select Strikes (3 Minutes)

#

graph TD
    A[SPY @ $594] --> B[Find Put Strikes
4-5% OTM]
    A --> C[Find Call Strikes
3-4% OTM]

    B --> D[Short Put: $570
Delta = -0.15]
    D --> E[Long Put: $565
$5 wide wing]

    C --> F[Short Call: $615
Delta = 0.14]
    F --> G[Long Call: $620
$5 wide wing]

    E --> H[CONDOR STRUCTURE
565/570/615/620]
    G --> H

    style H fill:#0f5132,stroke:#75b798,color:#d1e7dd

Strike Selection Worksheet:

═══════════════════════════════════════════════════════
           STRIKE SELECTION WORKSHEET
═══════════════════════════════════════════════════════

SPY Current Price: $_______

PUT SIDE
Target: 4-5% below current = $_______ zone
Short put strike: $_______ (delta: _____)
Long put strike: $_______ (wing width: $5)
Put spread credit: $_______

CALL SIDE
Target: 3-4% above current = $_______ zone
Short call strike: $_______ (delta: _____)
Long call strike: $_______ (wing width: $5)
Call spread credit: $_______

COMBINED
Total credit: $_______
Credit as % of $5 width: _______%
≥12%? □ YES □ NO (need YES)

═══════════════════════════════════════════════════════

Step 5: Calculate Position Size (1 Minute)

#

Formula:

Max Loss Per Contract = Wing Width - Credit
Max Loss Per Contract = $5.00 - $0.70 = $4.30 = $430

Portfolio Risk Limit = 2% of Portfolio
If Portfolio = $50,000, then Max Risk = $1,000

Max Contracts = $1,000 ÷ $430 = 2.3 → Round DOWN to 2 contracts

Step 6: Execute the Order (2-5 Minutes)

#

Step 7: Document the Trade

#

Immediately after fill:

═══════════════════════════════════════════════════════
              NEW IRON CONDOR ENTRY
═══════════════════════════════════════════════════════

Date/Time: ____________
SPY at entry: $_______
VIX at entry: _______

STRUCTURE
Expiration: _______ (_____ DTE)
Put spread: $_____/$_____
Call spread: $_____/$_____
Contracts: _______

PRICING
Credit received: $_______ per contract
Total credit: $_______
Max loss: $_______

TARGETS
50% profit target: $_______
Stop loss (2x credit): $_______
DTE exit target: 21 days

NOTES
_________________________________________
_________________________________________

═══════════════════════════════════════════════════════

Part 3: Daily Monitoring Workflow

#

Morning Check (3 Minutes, Before 10 AM)

#

MORNING CHECK: ____________

SPY Pre-market: $_______ (vs yesterday: +/-___%)
VIX: _______ (vs yesterday: +/-___%)

OPEN POSITIONS
□ IC #1: P/L ___%, DTE ___, Status: _______
□ IC #2: P/L ___%, DTE ___, Status: _______
□ IC #3: P/L ___%, DTE ___, Status: _______

ACTIONS NEEDED TODAY
□ _________________________________
□ _________________________________

Part 4: Position Management Workflows

#

Closing a Winner

#

Closing a Loser

#

Adjusting a Tested Position

#

Rolling the Untested Side Down

#

Scenario: SPY drops toward put strike. Call spread is safe.

graph TD
    A[Original Position
565/570/615/620] --> B{SPY drops to $578}
    B --> C[Put spread tested
Call spread safe]
    C --> D[Buy back 615/620 call spread
for $0.05]
    D --> E[Sell new 600/605 call spread
for $0.25]
    E --> F[Net credit: +$0.20]
    F --> G[New Position
565/570/600/605
Extra cushion on put side]

    style G fill:#0f5132,stroke:#75b798,color:#d1e7dd

Step-by-step:

1. Identify the safe side (call spread in this example)

2. Check if roll is profitable

   • Current call spread value: ~$0.05
   • New call spread value: ~$0.25
   • Net credit available: $0.20 ✓

3. Execute as separate orders or roll order

   • Some brokers have "roll" functionality
   • Otherwise: BTC old spread, STO new spread

4. Update position record

   • Original credit: $0.70
   • Roll credit: $0.20
   • New total credit: $0.90
   • New max loss: $5.00 - $0.90 = $4.10
   • New breakevens recalculated

Rolling the Untested Side Up

#

Scenario: SPY rallies toward call strike. Put spread is safe.

Same logic in reverse:

• Buy back put spread (cheap now)
• Sell new put spread closer to current price
• Collect additional credit
• Lower your upper breakeven effectively

Part 5: Weekly Review Workflow

#

Friday End-of-Week Review (10 Minutes)

#

═══════════════════════════════════════════════════════
         WEEK ENDING: ____________ REVIEW
═══════════════════════════════════════════════════════

TRADES CLOSED THIS WEEK
Trade 1: _____ result ($_____)
Trade 2: _____ result ($_____)
Trade 3: _____ result ($_____)

Week P/L: $_______
MTD P/L: $_______
YTD P/L: $_______

Win Rate (rolling 20 trades): _______%
Average Winner: $_______
Average Loser: $_______

OPEN POSITIONS END OF WEEK
IC #1: ___% P/L, ___ DTE
IC #2: ___% P/L, ___ DTE
IC #3: ___% P/L, ___ DTE

Total open risk: $_______

═══════════════════════════════════════════════════════

Part 6: Monthly Review Workflow

#

End-of-Month Deep Dive (30 Minutes)

#

Monthly Statistics

#

═══════════════════════════════════════════════════════
              MONTH: ____________ REVIEW
═══════════════════════════════════════════════════════

PERFORMANCE SUMMARY
Total trades: _______
Winners: _______ (____%)
Losers: _______ (____%)

Gross profits: $_______
Gross losses: $_______
Net P/L: $_______
Return on capital: _______%

TRADE ANALYSIS
Average credit received: $_______
Average profit (winners): $_______
Average loss (losers): $_______
Profit factor: _______ (gross profit ÷ gross loss)

POSITION METRICS
Average DTE at entry: _______ days
Average hold time: _______ days
Adjustments made: _______
Adjustment success rate: _______%

CONTEXT
Average VIX during month: _______
SPY monthly return: _______%
Market regime: Trending / Range-bound

═══════════════════════════════════════════════════════

Monthly Optimization Questions

#

1. Are my delta targets appropriate?

   • Win rate vs. expectation?
   • Premium sufficient?

2. Is my timing working?

   • 30-45 DTE optimal?
   • Exit timing (50% rule)?

3. Are adjustments helping?

   • Net benefit or just delaying losses?

4. Is position sizing correct?

   • Any trade hurt too much?
   • Any trade too small to matter?

Spreadsheet Template

#

Here's the essential tracking spreadsheet structure:

Related Resources

#

Disclaimer: This workflow guide reflects my personal trading process. Options trading involves significant risk. Develop your own system based on your risk tolerance and experience level.

Before We Begin: Capital Requirements

#

Why I Chose SPY Over SPX for Iron Condors

#

I spent months analyzing both. Here's why I landed on SPY:

<span
  class="rounded-md border border-primary-400 px-1 py-[1px] text-xs font-normal text-primary-700 dark:border-primary-600 dark:text-primary-400">

Unmatched Liquidity

<span
  class="rounded-md border border-primary-400 px-1 py-[1px] text-xs font-normal text-primary-700 dark:border-primary-600 dark:text-primary-400">

Flexible Sizing

<span
  class="rounded-md border border-primary-400 px-1 py-[1px] text-xs font-normal text-primary-700 dark:border-primary-600 dark:text-primary-400">

Easier Adjustments

<span
  class="rounded-md border border-primary-400 px-1 py-[1px] text-xs font-normal text-primary-700 dark:border-primary-600 dark:text-primary-400">

Lower Capital Barrier

<span
  class="rounded-md border border-primary-400 px-1 py-[1px] text-xs font-normal text-primary-700 dark:border-primary-600 dark:text-primary-400">

Weekly Options

Understanding Iron Condors: The Mechanics

#

An Iron Condor combines two credit spreads—one above the current price, one below—creating a "profitable zone" where I keep my premium.

The Structure

#

graph TD
    subgraph "BEAR CALL SPREAD (Above Market)"
        A[Buy Call @ 620
Long Protection] --> B[Sell Call @ 615
Short Strike]
    end

    subgraph "CURRENT MARKET"
        C[SPY @ 594
Current Price]
    end

    subgraph "BULL PUT SPREAD (Below Market)"
        D[Sell Put @ 570
Short Strike] --> E[Buy Put @ 565
Long Protection]
    end

    B -->|Premium Collected| F[Total Credit
= Max Profit]
    D -->|Premium Collected| F

    style C fill:#1e3a5f,stroke:#60a5fa,color:#e2e8f0
    style F fill:#0f5132,stroke:#75b798,color:#d1e7dd

The Four Legs Explained

#

Wing Width: In this example, both spreads are $5 wide. Wider wings = more premium but more max loss.

My Real Trade Example: January 2026

#

Here's an actual Iron Condor setup based on current market conditions (SPY ~$594, VIX ~15.5):

Understanding the Risk/Reward

#

Yes, you read that right—I risk $430 to make $70. That's a 6:1 ratio against me. Here's why it still works:

Payoff Diagram

#

Backtested Performance: What the Data Shows

#

I've studied the historical performance of SPY Iron Condors extensively. Here's what decades of data reveal:

Historical Backtest Results

#

The Volatility Risk Premium Edge

#

The fundamental edge: Implied Volatility consistently exceeds Realized Volatility on average.

graph LR
    A[VIX = 15.5
What Options Price In] -->|"Fear Premium"| B[Edge for Sellers]
    C[Realized Vol = 10-12%
What Actually Happens] -->|"Reality"| B
    B --> D[~4-6% VRP
My Edge]

    style D fill:#0f5132,stroke:#75b798,color:#d1e7dd

When I sell an Iron Condor, I'm selling insurance at inflated prices. Over time, the market doesn't move as much as options prices imply—that's my edge.

Critical Research Warning

#

My Optimal Setup Parameters

#

After studying the research and trading live, here are my preferred parameters:

The Sweet Spot Configuration

#

Delta Selection Guide

#

graph LR
    A[0.08 Delta
92% Win Rate] --> B[Premium: ~$0.40
Too Thin]
    C[0.12 Delta
88% Win Rate] --> D[Premium: ~$0.55
Acceptable]
    E[0.16 Delta
84% Win Rate] --> F[Premium: ~$0.70
MY SWEET SPOT]
    G[0.20 Delta
80% Win Rate] --> H[Premium: ~$0.90
Tastytrade Standard]
    I[0.30+ Delta
70% Win Rate] --> J[Premium: ~$1.40
TOO AGGRESSIVE]

    style E fill:#0f5132,stroke:#75b798,color:#d1e7dd
    style G fill:#664d03,stroke:#ffc107,color:#fff3cd
    style I fill:#842029,stroke:#ea868f,color:#f8d7da

Width Selection Trade-offs

#

Position Management: My Rules

#

Take Profit Rules

#

Adjustment Rules: When Things Go Wrong

#

Stop Loss Rules

#

The Greeks: What I Monitor

#

Critical Greeks Exposure

#

My Daily Check (Under 5 Minutes)

#

graph TD
    A[Daily Check] --> B{Position Delta > ±0.15?}
    B -->|No| C[No Action Needed]
    B -->|Yes| D[Consider Rolling Untested Side]

    A --> E{DTE Remaining?}
    E -->|> 21 DTE| F[Weekly Check OK]
    E -->|≤ 21 DTE| G[Daily Monitoring Required]

    A --> H{Current P/L?}
    H -->|≥ 50% Profit| I[CLOSE POSITION]
    H -->|Loss ≥ 2x Credit| J[CLOSE POSITION]
    H -->|Between| K[Hold and Monitor]

    style I fill:#0f5132,stroke:#75b798,color:#d1e7dd
    style J fill:#842029,stroke:#ea868f,color:#f8d7da

Realistic Return Expectations

#

Let me be completely honest about what's achievable:

My Monthly Target Model ($50k Account)

#

Scaling the Strategy

#

Visual: Compound Growth Scenarios

#

Iron Condors vs. My CSP Strategy

#

How do Iron Condors fit into my overall options portfolio?

My Current Allocation:

• 60% Cash Secured Puts on quality stocks (bullish conviction)
• 30% Iron Condors on SPY (neutral income)
• 10% Cash buffer for opportunities

Common Mistakes I've Made (Learn From Them)

#

When NOT to Trade Iron Condors

#

Related Resources

#

I've created detailed execution guides for this strategy:

The Bottom Line

#

Next Steps

#

1. Read the Iron Condor Entry Checklist - Every criterion must pass
2. Study the Workflow Guide - Learn my daily/weekly routine
3. Print the 1-Page SOP - Keep it visible when trading
4. Paper trade for 60 days - This is more complex than CSPs; practice first
5. Start with 1 contract - Your first real trade should be small

Disclaimer: This is educational content based on my personal experience and research. Options trading involves significant risk and is not suitable for all investors. Iron Condors can lose significant capital in volatile or trending markets. Past performance does not guarantee future results. Always do your own research.

Sources:

• Projectfinance Iron Condor Management Study
• Spintwig SPX Backtests
• Market Chameleon SPY Iron Condor Benchmarks
• Tastytrade Iron Condor Standards
• Options Trading IQ ETF Analysis

Entry Checklist (All Must Be YES)

#

This is a pre-flight checklist. Just like pilots don't skip steps before takeoff, I don't skip steps before placing a trade.

  class="pe-3 flex items-center" style="color: #ffc107"

>
<span class="relative block icon"><svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 512 512"><path fill="currentColor" d="M506.3 417l-213.3-364c-16.33-28-57.54-28-73.98 0l-213.2 364C-10.59 444.9 9.849 480 42.74 480h426.6C502.1 480 522.6 445 506.3 417zM232 168c0-13.25 10.75-24 24-24S280 154.8 280 168v128c0 13.25-10.75 24-23.1 24S232 309.3 232 296V168zM256 416c-17.36 0-31.44-14.08-31.44-31.44c0-17.36 14.07-31.44 31.44-31.44s31.44 14.08 31.44 31.44C287.4 401.9 273.4 416 256 416z"/></svg>

  style="color: #fff3cd"

><p><strong>If any market check fails:</strong></p>

1. Pull up SPY chart
2. Is price above 50 MA? → YES/NO
3. Is price above 200 MA? → YES/NO
4. Check VIX level → ____ (must be 14-25)
5. VIX term structure → Contango/Backwardation?
6. Check economic calendar → Any events in 48h?

All YES and VIX in range? → Proceed to setup
Any NO? → Skip or reduce size

  class="pe-3 flex items-center" style="color: #60a5fa"

>

  style="color: #e2e8f0"

><p><strong>Strike Selection Formula:</strong></p>

  class="pe-3 flex items-center" style="color: #ea868f"

>

  style="color: #f8d7da"

><p><strong>Position Sizing Formula:</strong></p>

  class="pe-3 flex items-center" style="color: #75b798"

>
<span class="relative block icon"><svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 384 512"><path fill="currentColor" d="M112.1 454.3c0 6.297 1.816 12.44 5.284 17.69l17.14 25.69c5.25 7.875 17.17 14.28 26.64 14.28h61.67c9.438 0 21.36-6.401 26.61-14.28l17.08-25.68c2.938-4.438 5.348-12.37 5.348-17.7L272 415.1h-160L112.1 454.3zM191.4 .0132C89.44 .3257 16 82.97 16 175.1c0 44.38 16.44 84.84 43.56 115.8c16.53 18.84 42.34 58.23 52.22 91.45c.0313 .25 .0938 .5166 .125 .7823h160.2c.0313-.2656 .0938-.5166 .125-.7823c9.875-33.22 35.69-72.61 52.22-91.45C351.6 260.8 368 220.4 368 175.1C368 78.61 288.9-.2837 191.4 .0132zM192 96.01c-44.13 0-80 35.89-80 79.1C112 184.8 104.8 192 96 192S80 184.8 80 176c0-61.76 50.25-111.1 112-111.1c8.844 0 16 7.159 16 16S200.8 96.01 192 96.01z"/></svg>

  style="color: #d1e7dd"

><p><strong>Fill Optimization:</strong></p>

Management Checklist: Once In a Trade

#

Daily Monitoring (Under 5 Minutes)

#

Profit Taking Rules

#

Adjustment Decision Tree

#

graph TD
    A[Position Check] --> B{Which side tested?}
    B -->|Put Side| C{Breach Level?}
    B -->|Call Side| D{Breach Level?}
    B -->|Neither| E[Hold - No Action]

    C -->|Within 2% of short strike| F[Roll call spread down
for credit]
    C -->|At or through short strike| G{Can roll for credit?}
    G -->|Yes| H[Roll entire put spread
down and out]
    G -->|No| I[CLOSE at defined loss]

    D -->|Within 2% of short strike| J[Roll put spread up
for credit]
    D -->|At or through short strike| K{Can roll for credit?}
    K -->|Yes| L[Roll entire call spread
up and out]
    K -->|No| I

    style I fill:#842029,stroke:#ea868f,color:#f8d7da
    style E fill:#0f5132,stroke:#75b798,color:#d1e7dd

Rolling Rules

#

Exit Checklist: Closing Positions

#

Profit Exit

#

Loss Exit

#

21 DTE Exit

#

Hard NO Rules

#

Pre-Trade Verification Form

#

Use this form before every trade:

═══════════════════════════════════════════════════════
          IRON CONDOR PRE-TRADE CHECKLIST
═══════════════════════════════════════════════════════

Date: ____________    Time: ____________

MARKET CONTEXT
[ ] VIX Level: _______ (14-25 required)
[ ] SPY vs 50 MA: Above / Below
[ ] SPY vs 200 MA: Above / Below
[ ] Major events in 48h: None / _______________
[ ] VIX term structure: Contango / Backwardation

POSITION SETUP
[ ] Underlying: SPY @ $_______
[ ] Expiration: _______ (DTE: _____)
[ ] Put spread: Short $_____ / Long $_____
[ ] Call spread: Short $_____ / Long $_____
[ ] Total credit: $_______ per contract
[ ] Credit as % of width: _______%
[ ] Short put delta: _______
[ ] Short call delta: _______

RISK MANAGEMENT
[ ] Max loss per contract: $_______
[ ] Number of contracts: _______
[ ] Total max loss: $_______
[ ] Portfolio %: _______% (max 2%)
[ ] Current open condors: _____ (max 6)

EXECUTION
[ ] Order type: LIMIT
[ ] Starting price: $_______
[ ] Open interest adequate: Yes / No
[ ] Avoiding first/last 30 min: Yes / No

FINAL APPROVAL
[ ] All checks passed
[ ] I would be okay losing the max loss
[ ] This is not revenge trading
[ ] I have a management plan

TRADE AUTHORIZED: YES / NO

═══════════════════════════════════════════════════════

Post-Trade Logging

#

After every trade (win or loss), log:

═══════════════════════════════════════════════════════
              IRON CONDOR TRADE LOG
═══════════════════════════════════════════════════════

ENTRY
Date: ____________    SPY Price: $_______
Expiration: _______   VIX at entry: _______
Put spread: $_____/$_____ for $_______ credit
Call spread: $_____/$_____ for $_______ credit
Total credit: $_______ × _____ contracts = $_______
Max loss: $_______

EXIT
Date: ____________    SPY Price: $_______
Days held: _______    VIX at exit: _______
Exit price: $_______
Profit/Loss: $_______
Result: WIN / LOSS / SCRATCH

NOTES
What worked: _________________________________
What didn't: _________________________________
Lesson learned: ______________________________

═══════════════════════════════════════════════════════

Quick Reference Card (Print This)

#

Related Resources

#

Disclaimer: This checklist is based on my personal trading rules and research. Options trading involves significant risk. Always do your own analysis and never risk money you can't afford to lose.