# @tastyliveshow on YouTube - **Type:** Video - **Original URL:** https://youtube.com/watch?v=TSWdIzScHvQ - **Gondola URL:** https://gondola.cc/posts/65275755-tastyliveshow-youtube - **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/postThumbnails/d360f511a0.jpg - **Posted:** 2026-05-12T16:21:29.000+00:00 - **Account Owner:** tastylive (@tastyliveshow) — https://gondola.cc/tastyliveshow ## Caption SPX is down 60 points, Nasdaq down 500, and a vol spike is underway. That is exactly when Mike likes to layer on neutral premium in SPX, and today the structure is a chicken iron condor: collecting 40 to 50% of the spread width with strikes closer to the money than a standard iron condor. The setup is 7000 to 6990 on the put side, 7600 to 7610 on the call side, 10 points wide collecting $4. A $4 credit on a $10 spread gives you a lower probability setup but higher payout if the market chops inside the range. Existing positions including a downside butterfly and other iron condors hedge the risk on both sides. Helpful links: tastylive: https://www.tastylive.com/ FREE tasytlive Newsletters: https://info.tastylive.com/newsletters FREE Options Strategy Guide: https://tinyurl.com/bp9ms763 Follow tastylive on X (Twitter): https://x.com/tastyliveshow CHAPTERS: 00:00 Market Down 60 on SPX, Nasdaq Down 500 00:23 Why Sell Offs Are the Time to Layer on Premium 00:51 Going to the Monthly Cycle for Maximum Liquidity 01:15 Why the 7000 Strike Is the Logical Put Side Level 01:46 Call Side at 7600: Inside the Expected Move 02:39 Chicken Iron Condor: Collecting 40-50% of Spread Width 03:15 10 Points Wide, $4 Credit, $6 Risk 03:30 How Existing Butterfly and Condor Positions Hedge Both Sides 04:15 Routing the Order Live #optionstrадesToday #optionstrading #ironcondor #spxoptions #livetrading #chickencondor #howtotradeoptions #optionsforbeginners #stockmarket #tastylive tastylive is a real financial network, producing hours of live programming every day. Follow along as our experts navigate the markets, provide actionable trading insights, and teach you how to trade. With over 120 original segments, and over 25 personalities, we’ll help you take your trading to the next level, whether you are new to trading or a seasoned veteran. tastylive content is created, produced, and provided solely by tastylive, Inc. (“tastylive”) and is for informational and educational purposes only. It is not, nor is it intended to be, trading or investment advice or a recommendation that any security, futures contract, digital asset, other product, transaction, or investment strategy is suitable for any person. Trading securities, futures products, and digital assets involve risk and may result in a loss greater than the original amount invested. Investment information provided may not be appropriate for all investors and is provided without respect to individual investor financial sophistication, financial situation, investing time horizon or risk tolerance. Options, futures, and futures options are not suitable for all investors. Prior to trading securities, options, futures, or futures options, please read all applicable risk disclosures, including, but not limited to, the Characteristics and Risks of Standardized Options Disclosure and the Futures and Exchange Traded Options Risk Disclosure Statement found at https://tastytrade.com/disclosures/. Past performance is not indicative of future results. Performance is not presented net of all commissions, fees, and expenses. Multi-leg option strategies incur higher transaction costs than single leg trades as they involve multiple commission charges. Examples provided are for illustrative, informational, and educational purposes only and are not intended to be reflective of results you can expect to achieve. Supporting documentation for any claims (including claims made on behalf of options programs), comparisons, statistics, or other technical data, if applicable, will be supplied upon request. tastylive, through its content, financial programming or otherwise, does not provide investment or financial advice or make investment recommendations. tastylive is not a licensed financial adviser, registered investment adviser, or a registered broker-dealer. ## Stats - **Views:** 1 - **Likes:** 0 - **Shares:** 0 - **Comments:** 0 ## Tags tastylive, optionstrading, livetrading, ironcondor, stockmarket, howtotradeoptions, spxoptions, optionstrадestoday, chickencondor, optionsforbeginners --- Copyright (c) Gondola