01 — TLT · IRON CONDOR

Best TLT 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.

Macro-sensitive duration play with options flow tied to long-end Treasury yields and Fed expectations.

Find the best strikes →FREE · 20 ANALYSES/DAY · NO CARD
iShares 20+ Year Treasury Bond ETF
Bond ETF
TLT
$81.84+5.6% / 30d
IV rank (1y)
59.6% · moderate
P/E (fwd)
-4092.0
Option vol
88K /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
$76.5/$79P + $84.5/$87C · Dec 4
34 DAYS · BOTH WINGS 3 WIDE · SELL TO OPEN
Credit
$56
Return
28.87%
PoP
63%
WingsExpirationCreditReturn ↓PoP
$79.5P / $84C
3 wide wings
Nov 27
27 days
$50
$0.50 / share
25%61%
$78.5P / $85C
3 wide wings
Dec 4
34 days
$44
$0.44 / share
21.36%69%
$79P / $85C
3 wide wings
Nov 30
30 days
$40
$0.40 / share
15.38%69%
$79P / $85C
3 wide wings
Nov 27
27 days
$33
$0.33 / share
15.21%71%
$78P / $85.5C
3 wide wings
Dec 4
34 days
$32
$0.32 / share
14.68%74%
$78.5P / $85C
3 wide wings
Nov 27
27 days
$28
$0.28 / share
12.61%74%
7 of 7 matchesCustomize filters →

03 — Strategy

Iron Condor, plainly explained

Traders expecting consolidation and seeking bounded risk/reward.

P&L at expiration · $76.5/$79P + $84.5/$87C · 34 DTE

$0+$56−$194$77$79P$85C$87

Key numbers

Premium collected+$56
Max profit+$56
Max loss−$194
Profit zone$78.44 — $85.06
Probability of profit63%
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 TLT.

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

      Analyze TLT free →