---
title: 'This 0DTE Iron Condor Made 40% in Q1'
source: 'https://youtube.com/watch?v=PhimwqOzOsc'
video_id: 'PhimwqOzOsc'
date: 2026-08-05
duration_sec: 68
---

# This 0DTE Iron Condor Made 40% in Q1

> Source: [This 0DTE Iron Condor Made 40% in Q1](https://youtube.com/watch?v=PhimwqOzOsc)

## Summary

The video presents a zero DTE (0DTE) iron condor strategy that returned 40% in Q1, enhanced by using gamma heat maps for exit criteria. The speaker explains how green gamma indicates deceleration (favorable for iron condors) and red gamma has the opposite effect, with a focus on capturing chop. The strategy involves setting lower and upper bands based on the SPX opening price to determine price staying within range.

### Key Points

- **Strategy Performance** [00:02] — A simple zero DTE iron condor strategy returned 40% in Q1.
- **Gamma Heat Maps for Exit** [00:17] — The strategy is improved by using gamma heat maps to determine exit criteria, making a profitable strategy even better.
- **Bands Based on SPX Open** [00:31] — The trader builds lower and upper bands based on the SPX opening price, expecting price to stay within these bands.
- **Gamma Interpretation** [00:45] — Green gamma represents deceleration, while red gamma has the opposite effect. The goal is to capture as much deceleration as possible because iron condors thrive in chop.
- **Step-by-Step Walkthrough** [01:00] — The video walks through exactly how the trader places and manages these trades step by step, with a link to the full interview.

### Conclusion

The key takeaway is that using gamma heat maps to refine exit criteria can significantly enhance a zero DTE iron condor strategy, capitalizing on market chop for consistent returns.

## Transcript

and this returned 40% in Q 1. So, the one-minute version is what if you could take a simple zero DTE iron condor strategy that's already profitable and just continue to make it better by understanding gamma heat maps for your
exit criteria. So, this is a zero DTE iron condor strategy, but what makes it powerful is how he improves it using gamma levels. If the SPX is going to open at X price here,
what I'm building is a lower band down here and an upper band up here and I'm determining that price is going to stay within either of my bands. Green gamma can just simply be interpreted as deceleration, whereas this red gamma is
going to have the opposite effect. So, I'm going to want to capture as much deceleration as possible because anybody in iron condor knows that you love chop. It's everybody's favorite condition when you're in a when you're in a condor.
He walks through exactly how he places and manages these trades step by step. Watch the full interview in the link below.