Course 1 of 3 · Basic

Iron Condors — Basic Course

The foundation of the Iron Condor strategy, built from the ground up. You will learn how options work, how spreads are constructed, and how a complete Iron Condor is structured, priced, and evaluated.

📋 25 Questions ⏱ 45-minute exam ✅ 70% to pass (18/25) 🏆 Certificate on pass

What This Course Covers

📌Options basics — calls, puts, premiums, and strike prices

📌Moneyness — ITM, ATM, and OTM options explained

📌The Greeks — understanding theta (time decay)

📌Buying vs. selling — obligations and rights

📌Credit spreads — bull put and bear call structures

📌Iron Condor structure — all four legs explained

📌Max profit, max loss, and break-even calculations

📌When to use an Iron Condor — market conditions

By the End of This Course You Will Know How To

Identify the four legs of an Iron Condor and explain the role of each
Calculate maximum profit, maximum loss, and both break-even prices
Determine whether an option is in-the-money, at-the-money, or out-of-the-money
Explain why Iron Condor sellers benefit from time decay (theta)
Recognize the ideal market conditions for deploying an Iron Condor
Distinguish between a credit spread (seller) and a debit spread (buyer)

Step 1 — Study First

Read the Basic Course Lesson

All modules, concepts, and key terms — then come back here to sit the exam.

Study the Lesson →

— or, if you're ready —

Ready to Take the Exam?

25 questions · 45-minute time limit · Score 70% or higher to earn your Basic Certificate