Hmm. Here’s an example:
I bought one Wall Street 30 spread this morning for 20800-20900. It cost me $46 (demo acct of course). I opened it at 20846. It expired at 20847, which was within the floor/ceiling range. Yet I still lost money even though neither strike price was hit. I don’t get it, that’s not really how a condor-style spread actually works. In traditional options market if the price expires inside the strikes you collect the premium.
So you’re telling me that I need to buy two spreads–one lower and one upper, and that’s the correct way to do a Nadex Iron Condor?
Edit–I just had this happen again. I bought a 3pm expiration EUR/USD spread with a projected payout of $250 and a 1:1 risk/reward. The price closed inside the two strikes yet I lost $100. This can’t be right–this isn’t how a true Condor type spread behaves. This is little more than a 50:50 guessing game, not really what I’m looking for as a strategy and probably not an instrument I’m interested in continuing to trade.