Iron condors are one of our most reliable and favorite options 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 trade we suggest selling the short strikes on either side at the 1 SD level (or 15% prob ITM level). This will create approximately a 70% chance of success trade 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.