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Re Iron Condor Investing Ify . As with all options strategies, it is based on assembling a position out of several contracts. However, the margin of profit is. Iron Condor Setup Iron condor, Option strategies, Iron from www.pinterest.com As with all options strategies, it is based on assembling a position out of several contracts. These options are bought and sold as vertical spreads. An iron condor strategy is actually pretty simple with iron condors, one of the things you are doing is engaging in more.