An article states that at-the-money options have the highest time value. How does this change as you move further out to the out-of-the-money wings in an iron condor?

At-the-money options carry the highest time value or extrinsic value because they have the greatest uncertainty about finishing in or out of the money at expiration. This peaks near the current underlying price where the probability of exercise is closest to 50 percent. As you move away from that strike in either direction into out-of-the-money territory the extrinsic value declines steadily until it reaches nearly zero for far out-of-the-money strikes. This creates the familiar bell-shaped curve of time value across an option chain. In a VixShield 1DTE SPX Iron Condor we deliberately sell the inner strikes that still retain meaningful time value while buying the outer wings that have far less extrinsic premium. The net credit we collect is almost entirely the difference in that decaying time value. Russell Clark's SPX Mastery methodology uses the Expected Daily Range indicator to select those wings so the short strikes sit roughly one standard deviation away from the current SPX price while the long strikes sit approximately 1.5 to 2.0 times the EDR beyond them. For example with SPX at 7138.80 and current EDR near 1.16 percent the Conservative tier might sell the 7105/7070 put spread and the 7170/7205 call spread collecting around 0.70 credit. The short strikes still hold substantial time value on the morning of expiration while the long wings are priced mostly on intrinsic possibility alone. This structure lets theta work aggressively in our favor during the final trading day. The RSAi engine further refines exact placement by reading real-time skew so we capture the precise premium target for each risk tier. Because we trade exclusively 1DTE the time-value decay curve is extremely steep in the final hours which is why our Conservative tier has historically won on approximately 18 out of 20 trading days. The Adaptive Layered VIX Hedge sits alongside every position providing protection when volatility expands and the wings are tested. That hedge itself benefits from the same volatility skew dynamics because VIX calls further out-of-the-money also price with rapidly diminishing extrinsic value until a true spike occurs. The entire Unlimited Cash System therefore relies on understanding how time value collapses as we move away from at-the-money. We place our condors each day at 3:10 PM CST after the SPX close avoiding pattern day trader restrictions and simply let the position expire the next afternoon. All trading involves substantial risk of loss and is not suitable for all investors. To master these concepts and receive daily signals visit the VixShield resources and SPX Mastery Club for complete video walkthroughs and live examples.