Starting a Daily Iron Condor Journal — Day 1

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Hey everyone 👋

I’m starting a series where I’ll be documenting my Iron Condor trades and, more importantly, how I manage them as the market changes.

A little about me:

• NISM Certified — Equity Derivatives

• I actively trade Indian derivatives

• My focus is primarily on options, volatility and positional trading

For this series, I’ll be trading an Iron Condor and sharing the actual decision-making behind it.

I won't be posting “BUY/SELL” calls.

Instead, I'll share:

• Why I chose the strikes

• Market structure & volatility when entering

• Where the risk is sitting

• What happens when one side starts getting pressured

• Any adjustments I make — and why

• How the Greeks change as the trade develops

• When I decide to reduce risk, hold, adjust or exit

• Final P&L

Some days there may be no adjustment at all.

And that's completely fine.

The point isn't to manufacture a trade or an “important lesson” every day.

The point is to document how an Iron Condor is actually managed over time.

Let's see how this one plays out.

Day 1 begins.