175: Breakeven Iron Condor Strategy (7DTE)
Stock Market Options Trading · Eric O'Rourke
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Show Notes
In this episode, I’m joined by Brian Terry to break down a breakeven iron condor strategy he’s actively trading right now.
Brian walks through how he enters the call side and put side separately, targeting equal credits on each side with 7 days to expiration. The key twist? He uses a 200% stop on each side, which means if one side gets stopped out, the trade is designed to be roughly breakeven overall.
We talk through:
- Why separating entries can improve flexibility
- How the 200% stop changes the risk profile
- Why this works well on SPX, and how newer traders can adapt it to SPY for smaller size
- The mindset behind trading income strategies defensively, not emotionally
Brian runs the Conservative Options Income Network (COIN) over at https://stockmarketoptionstrading.net, where you can start a 14-day free trial and see his real trades, including the strategy discussed in this episode.
If you’re interested in structured, rules-based options income strategies, this is a great one to study.