175: Breakeven Iron Condor Strategy (7DT...

In this episode, I’m joined by Brian Terry to break down a breakeven iron condor strategy he’s actively trading right now.

Brian walks through how he enters the call side and put side separately, targeting equal credits on each side with 7 days to expiration. The key twist? He uses a 200% stop on each side, which means if one side gets stopped out, the trade is designed to be roughly breakeven overall.

We talk through:

1. Why separating entries can improve flexibility
2. How the 200% stop changes the risk profile
3. Why this works well on SPX, and how newer traders can adapt it to SPY for smaller size
4. The mindset behind trading income strategies defensively, not emotionally

Brian runs the Conservative Options Income Network (COIN) over at https://stockmarketoptionstrading.net, where you can start a 14-day free trial and see his real trades, including the strategy discussed in this episode.

If you’re interested in structured, rules-based options income strategies, this is a great one to study.