u/Rahul5718

mag7 going down like crazy.

How low you guys think it will go?

I just noticed that out of all past 5 earnings. It closed in red on the day of earnings. Then next day it was sold again irrespective of results beat.

Today its trading green almost 1.5% up.
Do you guys sense asymmetrical pattern?

Hello Everyone,

It’s me again. I’ve been backtesting my algo for quite some time now and thankfully seeing some steady progress.
I had a couple of questions for experienced traders here regarding Iron Condors:

How do you select your legs?
Do you use fixed-width spreads (like 25 points), percentage-based distance, or delta-based strikes?
I’ve been testing fixed-width and percentage methods, but the results feel a bit inconsistent across different market conditions. I’m now considering shifting toward delta-based selection and would love to hear your approach.

How do you define a leg breach?

For example, when do you consider the short call or short put breached?
Simple spot price crossover?
Spot holding beyond the strike for a certain time (5/10/15 mins)?
Straddle/option premium expansion near expiry?
Any other confirmation method?
Would really appreciate any insights or frameworks you guys use. Thanks in advance!