01 — HYG · IRON CONDOR

Best HYG iron condor setups.

Pick how long you want to wait and how much risk you'll take. We score every live strike across the next 3 expirations and surface the top setups — updated hourly.

Credit-spread proxy with options flow tied to recession risk and risk-off positioning.

Find the best strikes →FREE · 20 ANALYSES/DAY · NO CARD
iShares iBoxx High Yield Corporate Bond ETF
Bond ETF
HYG
$77.43+0.7% / 30d
IV rank (1y)
34.2% · moderate
Option vol
3K /day

02 — Live setups

Suggested strikes

Choose your time horizon and risk band. Every match is scored on return, premium, and probability of profit.

Days to expiration
Probability of profit
Sort by
Top pick · 4-leg iron condor
$73.5/$76P + $79/$81.5C · Dec 4
34 DAYS · BOTH WINGS 3 WIDE · SELL TO OPEN
Credit
$26
Return
11.61%
PoP
70%
WingsExpirationCreditReturn ↓PoP
$76.5P / $78.5C
3 wide wings
Nov 27
27 days
$25
$0.25 / share
11.11%61%
$75.5P / $79.5C
3 wide wings
Dec 4
34 days
$24
$0.24 / share
10.62%71%
$76P / $79C
3 wide wings
Nov 27
27 days
$14
$0.14 / share
5.93%73%
$75P / $80C
3 wide wings
Nov 27
27 days
$13
$0.13 / share
5.49%61%
$73P / $82C
3 wide wings
Nov 27
27 days
$13
$0.13 / share
4.53%67%
$74P / $81C
3 wide wings
Dec 4
34 days
$10
$0.10 / share
4.17%63%
$73.5P / $81.5C
3 wide wings
Nov 27
27 days
$9
$0.09 / share
3.73%66%
$74P / $81C
3 wide wings
Nov 27
27 days
$9
$0.09 / share
3.73%64%
$74.5P / $80.5C
3 wide wings
Nov 27
27 days
$8
$0.08 / share
3.31%64%
10 of 13 matchesCustomize filters →

03 — Strategy

Iron Condor, plainly explained

Traders expecting consolidation and seeking bounded risk/reward.

P&L at expiration · $73.5/$76P + $79/$81.5C · 34 DTE

$0+$26−$224$74$76P$79C$82

Key numbers

Premium collected+$26
Max profit+$26
Max loss−$224
Profit zone$75.74 — $79.26
Probability of profit70%
Days to expiration34

When this trade makes sense

Use when

    Avoid when

      Read the full iron condor guide →

      05 — RUN IT LIVE

      See the highest chance of profit on HYG.

      Alpha Hawk scans live chains and recommends setups based on current market conditions.

      Analyze HYG free →