/> Iron Condor Screener - Frenzy Capital

Iron Condor Screener

Find symbols with low breach rates and attractive premiums for selling iron condors.

Screener results are algorithmic and for informational purposes only. Scores do not constitute trading recommendations. Past performance is not indicative of future results. See Terms §17.

Filter Criteria
Results Found

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Symbols matching your criteria

Avg Breach Rate

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Average across all results

Avg Straddle

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Average premium across results

Screening Results
Symbol Score ↕ Breach Rate Avg Straddle Straddle % Current Price IV Rank IV Premium Beta P/C Vol P/C OI Earn Days Earn Breach Observations Last Update Actions
Click "Screen" to find iron condor opportunities

Iron Condor Strategy Guide

What is an Iron Condor?

An iron condor is a neutral options strategy that profits when the underlying stays within a defined range. You sell an out-of-the-money put spread and an out-of-the-money call spread simultaneously, collecting premium from both sides. The strategy is most profitable when the stock price stays between your short strikes through expiration.

How to Use This Screener

  • Score: Composite ranking: (1 − breach_rate) × avg_straddle × IV_premium_factor × beta_penalty. Rewards low breach history, rich premium, options priced above realized vol, and low-beta behavior. Higher is better.
  • Breach Rate: Historical percentage of times price moved outside the expected straddle range. Lower is better — target under 30%.
  • Avg Straddle / Straddle %: Average ATM straddle price in dollars and as a percent of stock price. The % column normalizes across high- and low-priced stocks.
  • IV Rank: Where current IV sits vs the past 90 days (0–100%). Use Min IV Rank ≥ 50 to screen for elevated-IV setups where selling premium is most attractive.
  • IV Premium: Implied vol ÷ realized vol. Values above 1.0 mean the market is pricing in more movement than has historically occurred — options are "rich." This is the sweet spot for iron condors. Values below 1.0 mean options are "cheap" and premium collection is thin.
  • Beta: Sensitivity to SPY. Lower-beta stocks tend to range-trade more predictably. Iron condors on high-beta names (>1.5) face more breach risk even if historical rates look good.
  • P/C Vol / P/C OI: Put-to-call ratios by volume and open interest. Elevated put ratios (>1.5) indicate institutional hedging demand, which elevates put-wing IV — useful context for skewing your condor.
  • Observations: Number of historical data points. More observations = more reliable breach rate estimate.

Strategy Tips

  • Look for symbols with breach rates under 30% - these stay within expected ranges most of the time
  • Higher straddle prices mean more premium to collect, but also indicate higher volatility
  • Click "Expected Move" to see detailed breach history before entering a trade
  • Consider current market conditions and upcoming catalysts (earnings, Fed meetings, etc.)