✅ Strategy: Monthly BTC Iron Condor (Expiry: 30th August 2025)
View: Range-bound market (neutral bias)
Volatility: Moderately high (ideal for premium capture)
Capital Required: Approx. ₹40,000 – ₹60,000 per set (depending on margin usage and platform)
🔧 Strategy Setup (as of BTC spot = $61,500)
| Position Type | Strike | Action | Premium (Approx.) |
|---|---|---|---|
| Sell Put | 59000 PE | Sell | $200 |
| Buy Put | 57000 PE | Buy | $120 |
| Sell Call | 63000 CE | Sell | $210 |
| Buy Call | 65000 CE | Buy | $140 |
🗓 Expiry: 30th August 2025 (Last Friday)
💰 Net Credit Received:
= ($200 - $120) + ($210 - $140)
= $80 + $70 = $150 per lot
📈 Maximum Profit:
$150 (net credit) if BTC stays between $59,000 and $63,000 till expiry.
⚠️ Maximum Loss:
= Difference between strikes - net credit
= ($2000 - $150) = $1850 (if BTC breaks out of range)
📉 Breakeven Points:
-
Lower BEP = 59000 - 150 = 58850
-
Upper BEP = 63000 + 150 = 63150
📟 Estimated Cost with Brokerage + Taxes (India):
| Component | Amount |
|---|---|
| Brokerage (Delta) | ≈ 0.03% total value |
| GST (18% on brokerage) | Small (~₹40–₹80) |
| Margin Benefit | Yes, due to hedge positions |
📊 Payoff Chart (Sketch View):
Profit
|
$150 |---------\_______________/---------
| | |
| | |
-$1850 |_________|_______________|_________ Price
58850 63150
📌 Why Iron Condor for BTC Monthly?
-
Less sensitive to daily volatility
-
Limited risk, defined return
-
Works best if BTC consolidates
📃 Disclaimer (for blog):
This strategy is for educational purposes only. Options trading involves risk and is not suitable for all investors. Past performance does not guarantee future results. Please consult your financial advisor before taking any position. The strategy is simulated based on current data from Delta Exchange (India) and is not a trade recommendation.
