Iron condors are one of our most reliable and favorite option strategies. A combination of selling a credit put spread and credit call spread, these birds profit from the stock remaining range bound and a drop in implied volatility. In order to make these high probability trades we suggest selling the short strikes on either side at the 1 SD level (or 15% prob ITM level). This creates trades with approximately a 70% chance of success long-term. As with other credit spread trades, you'll want to close these trades at a 50% of max profit target to maximize your win rate.