Let’s define the iron condor option trading strategy. It’s a way of attempting to profit from the options contracts market when the market does NOT move. Typically, it goes without saying, options traders are trying to leverage market movement. Many times – and maybe most of the times – there is not a lot of movement and the underlying just trades in a range, leaving the options being traded to expire with no value on expiration day. Iron condor traders love this type of market environment as it is the ideal situation to pull profits from the markets.