Is Delta Neutral Options Trading Really Non-Directional?
As shown, the iron condor, butterfly, and calendar are all delta-neutral option income strategies, which are so-called “non-directional.” But are they really non-directional? Their current profit and loss line (also known as the T+0 line) has the concaved downward curve typical of such strategies. The current price dot of the underlying is at the top … Read more
