How to find Good Stocks for Iron Condors?

#1  use stocks you would buy 100 shares of in your retirement account

#2  use very liquid stocks near $100 or higher:   Examples would be AAPL, NFLX, AMZN, GOOGL, PNRA, XOM, DIS, IBM, TSLA, LNKD, PCLN, etc.

#3  If I did 4 stock Iron Condors every month, I would trade 2 with implied volatility levels under 25 and 2 with implied volatility levels over 25.

#4  Diversify Stock iron Condors  into at least 2 different industries

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Trade I like with SPX at current $2115 level

With SPX near all time highs at $2116 and VIX very low at 12.85, this is a trade I am considering in SPX.  Looking at June Expiration.

Buy 1 2180 call  Sell 4 2190 Calls   and Buy 3  2200 Calls. Looking to do for total credit of $190 and margin or risk of $1801.

Expiration Breakeven on the upside is around $2194, haven’t  been there yet! No downside risk and an expiration yield of around 11% as long as we are  2190 or lower at expiration.

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Best strike to sell for Covered Writes Today?

Covered Writers are nervous! SPX is $2100 today, 20 points off the all time highs. VIX is around 14, in the lower end of the range. With prices in the upper end of the range and VIX levels in the lower end of the range, I would want more downside protection for my covered writes. Solution? Sell Calls at-the-money or 5% in-the-money to get more downside protection. In many cases, going at-the-money or In-the-money for your short strike with Covered Writes, you can get between 4-7% more downside protection than traditional covered writes which sell out-of-the-money options.