How to Use an Iron Condor Scanner
How to use an iron condor scanner: learn to scan iron condors using liquidity, expected move, IV context, wing width, and risk rules.
Frequently asked questions
What should an iron condor scanner check first?
Liquidity should come first because an iron condor has four legs. Start with clean option chains, then compare expected move, strike distance, IV context, and total defined risk.
Is the highest-credit iron condor usually the best setup?
Not usually. Larger credit often means the short strikes are closer to current price or event risk is elevated. The better setup is the one whose risk, range assumption, and management plan fit your process.
Should I scan iron condors through earnings?
Many traders separate earnings-driven condors from non-event setups because implied volatility and expected move can change quickly around scheduled catalysts. A cleaner process is to define a specific rule for event windows before scanning.