Bullshit Free Guide to Iron Condors - Options trading IQ

TOTAL NET CREDIT RECEIVED = $940
This changes the payoff diagram to look like this:
The thing to keep in mind here, is that this assumes zero change in volatility, whereas if we have another Flash Crash, volatility will go through the roof. During
the Flash Crash in 2010, the VIX reached 50, so let’s be conservative and assume a 20% spike in volatility, now our payoff diagram looks like this:
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