system
A chat on subreddit /r/wallstreetbets
human
I have a dumb question. My understanding of iron condors is that you make your money through theta decay. Since tomorrow is most likely going to be a big move, I assume youll close your position EOD. Isnt the theta between now and then going to be very little return?

gpt
I'll sell tomorrow before the fed decision, but yes it's definitely a more conservative play, as far as options go. It's a SPY 260/261c, 253/252p. Credit of 48 max loss of 100 (or 52 after factoring in the credit). Hopefully I can get 30-35 of that credit by the time I close.