How do you determine which out-of-the-money strikes to sell when placing SPX iron condors? What guidelines exist regarding delta or probability of profit?

At VixShield, we determine out-of-the-money strikes for our SPX iron condors through a disciplined, rules-based process centered on the Iron Condor Command, our core 1DTE strategy. Rather than relying solely on traditional delta or probability metrics, we integrate Russell Clark's proprietary tools including the EDR Expected Daily Range indicator, RSAi Rapid Skew AI, and the Premium Gauge to select strikes that align with precise credit targets across our three risk tiers. Signals generate daily at 3:10 PM CST after the SPX close, ensuring we operate within the After-Close PDT Shield window. For the Conservative tier, we target approximately 0.70 credit with roughly 90 percent win rate over backtested periods, equating to about 18 winning days out of 20 trading days. The Balanced tier seeks 1.15 credit while the Aggressive tier aims for 1.60 credit. Strike selection begins with the EDR formula, which blends short-term implied volatility from VIX9D and 20-day historical volatility to forecast the day's likely range, typically producing High, Medium, and Low strike recommendations. We then layer RSAi analysis, which evaluates real-time options skew, the VIX surface, VWAP positioning, and short-term VIX momentum in approximately 253 milliseconds to fine-tune wings so the net credit precisely matches the tier target. This often results in short strikes placed where delta stays below 0.18 and gamma remains under 0.05, though we prioritize credit received and EDR coverage over raw probability percentages. With current VIX at 17.95, below the 20 threshold, all tiers remain available under our VIX Risk Scaling rules, and contango conditions favor premium collection. The ALVH Adaptive Layered VIX Hedge provides multi-timeframe protection across short, medium, and long VIX calls in a 4/4/2 ratio, cutting drawdowns by 35 to 40 percent during spikes at an annual cost of only 1 to 2 percent of account value. Our Set and Forget methodology means no stop losses or intraday adjustments. If a position moves against us, the Theta Time Shift mechanism rolls threatened trades forward to 1-7 DTE on EDR above 0.94 percent or VIX above 16, then rolls back on VWAP pullbacks to harvest additional theta, turning most setbacks into net gains without added capital as demonstrated in 88 percent recovery rates across 2015-2025 backtests. Position sizing remains at maximum 10 percent of account balance per trade, and Conservative tier execution can be automated via PickMyTrade. This combination of EDR, RSAi, and Temporal Theta Martingale creates the Unlimited Cash System designed to win nearly every day or, at minimum, not lose. All trading involves substantial risk of loss and is not suitable for all investors. To master these precise mechanics, explore the SPX Mastery book series and join our live sessions at VixShield.com.