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Market view

Horizon

Direction

Implied volatility

Loss constraint

Structures

StructureCategoryDirIVLoss

● matches◐ adjacent○ conflictsDirection, IV exposure and loss shape only. Not a return forecast, and it does not choose contracts.

Iron condor

Structure profile

Sells an out-of-the-money put spread and call spread. It is designed to profit when the underlying stays in a quiet range.

Direction

range-bound

Volatility

short

Theta

collects