 Welcome back to another lesson from Navigation Trading. In this video I want to show you how to enter an iron condor in Tastyworks. So we're looking at the platform here in the chart tab and we're looking at symbol IWM, which is the Russell small cap ETF. So what we have to do is simply go to the trade tab and this will populate four different modes that you can look at. First of which, where we'll start, is the table mode. So this brings up the traditional option chains that you see on most any platform. And so what you'll see is this orange line in the middle, those are the at the money options. So you can see that IWM is currently trading at about 156.30 and so the at the money is right between 156 and 157. And then in really small letters with this down arrow, you can see it says ITM pointing down. So that indicates that on the put side here, everything down here, these are the in the money puts and anything above that line are the out of the money puts. And then same thing on the call side. So we've got the in the money with the arrow pointed up. So all these above the line are the in the money calls and everything below are the out of the money calls. So I want to show you two different ways to set up an iron condor on the platform. To start with, if you look up here, you'll see strategy and you'll see short iron condor is one of the options. If you click the drop down arrow, you can see all the different spread options that you'll be trading, one of which is the iron condor. So if you just click on that, that'll populate and it automatically puts an iron condor on your screen. Now when we when we set up an iron condor, we typically like to have our short strike be about the 20 delta and the on IWM have a long strike be three strikes away for the wing width to be three strikes wide. And so this just defaults to the nearest strike. So all you have to do and the the great thing about this platform is you can simply click and drag. So we're looking under the delta column. So we want to click on the call side so that we're selling the 20 delta out of the money. In this case, there's the 19 or 23. So we opt for the higher one. And then we can click and drag the long option three strikes away from that. So that'd be the 165 strike. And then same thing on the put side. So we're going to take our short strike and get it up to about the 20 delta or so. And then we're going to take the long strike and make that three strikes lower. So that'd be the 145. And then that populates the exact iron condor that we want to trade on the platform. So that's the first way to initially set up the trade. The other option, if we want to clear that off, the other option you could do is to simply click on the bid and the ask spread. So go into the same 23 delta on the call side. We can just simply click on the bid and that populates our short strike. We can go over to the ask, go three strikes wide and click on the ask. And that populates our long strike. And then same thing on the put side. Just go up to the delta that you want to choose. In this case, a little over 20. We're going to click on the bid and then go three strikes away, click on the ask. And that sets up the iron condor the exact same way. So this platform is so user friendly. It's very easy to navigate. And those are the two different ways that you can initiate the iron condor. So the other cool thing about the Tasty Works platform is if you look down below, you've got some really cool statistics like the pop. The probability of profit is 52%. So if you held the trade all the way to expiration, it's got a 52% probability of profit shows the extrinsic value. The other thing it shows that no other platform has is what's called this P50. So that's the probability of you making 50% of max profit. So you've got a 75% chance of making a 50% of max profit on this trade. It shows you the delta, shows you the theta, gives you your max profit and your max loss on the trade. So that's all great information. You can check it that way. And if you're happy with your selection, you can go ahead and hit review and send and shoot the order in. Now if you're a visual person like I am, I like to look at this on a visual graph. So what you can do to pull that up from an analysis standpoint is you click on the curve trade mode. That's going to bring this up. And then on top of the curve mode, click on analysis. And that's going to bring up an analysis tab similar to what we're used to on the Thinkorswim platform. And you can zoom out of this a little bit to make it a little bit wider. You can make it a little bit narrower. But this gives you that visual representation. So you can see exactly where your break-even points are on the trade. You can see where your profit is represented by green. And you can see when the trade would start to be a loser, which represents the red. Then by opening up this window on the right-hand side, here are some metrics that you can play with with some theoretical positions. So you could increase implied volatility. And you should see the profit line goes down. Obviously, if we put on an iron condor, we want a contraction in applied volatility, which would increase our profits. You can move the date around to see kind of where you think the profit might be on a specific date after you've been in the trade for a while. So you can play around with this to get an idea of how the position will work based on various factors. And when you're happy with the position you've created, simply slide that window over, go down to the bottom, and click on Review and Send. And that'll send your order into the broker to get filled. So I hope this video was helpful in showing you how to set up an iron condor on Tasty Works. And I look forward to seeing you on the next video.