One of the greatest abilities that we have with trading options from the short side is that of rolling out in time to give ourselves more time to be correct. That is, when we have a short Strangle or Straddle or even just a short Naked Put that is not making money while nearing expiration, we can roll the trade out to the next expiration to afford us more time for the trade to come in.
Does this strategy of rolling lend itself to short Iron Condors and Iron Flies, though?
Since these short premium trades are defined-risk in nature, it is much more difficult to either roll sides of a trade or roll out in time. The guys tackle which Iron Condors they think allow for rolling of the untested spread in a losing trade. They then move on to when they might think about extending time in an Iron Condor and when they might close out a loser and move on. Check out the segment above for greater insight on when to roll Iron Condors.
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