Iron Condor Position Closer

WHAT IT DOES

This tool enables DeFi traders and options strategists to close iron condor positions directly on-chain. Closing an iron condor involves buying back the put spread (buying back the short put and selling the long put) and buying back the call spread (buying back the short call and selling the long call) simultaneously, paying the net debit to exit the position. Closing before expiration locks in profit or loss based on the difference between the initial premium collected and the current cost to buy back the options. It connects to your wallet and reads the options contract address, underlying asset balance, put lower position, put upper position, call lower position, call upper position, current market price, expiration timestamp, exercise status, position history, and timestamps. The tool signs and submits transactions to close iron condor positions, buy back spreads, pay net debit, record close metadata, and emit close events.

HOW TO USE

1. Connect your wallet using the wallet bridge (supports MetaMask, WalletConnect, and other EVM-compatible wallets).

2. Select the target network that matches your options contract deployment.

3. Enter the options contract address and the underlying asset address (use 0x0 for native token), then click "load contract" to initialize the connection.

4. Click "fetch position" to retrieve your current underlying balance and all four option position sizes (put lower, put upper, call lower, call upper).

5. Enter the current market price for reference, the amount of condors you want to close, and an estimated close cost (premium to buy back).

6. Click "estimate close" to calculate the total estimated cost based on the amount and premium.

7. Click "validate close" to verify that you have a position to close, the amount is valid, and your wallet balance can cover the close cost.

8. Review the displayed position information, underlying balance, and estimated close cost before executing.

9. Click "close iron condor" to sign and submit the transaction that buys back all four option legs in a single atomic operation.

TECHNICAL MECHANISM

The tool uses ethers.js v5.7.2 to interact with any EVM-compatible options contract that implements a standard interface for closing iron condors (getUnderlyingBalance(address) view, getPutPosLower(address) view, getPutPosUpper(address) view, getCallPosLower(address) view, getCallPosUpper(address) view, getExpiration() view, getExerciseStatus(address) view, closeIronCondor(uint256) external payable, getPositionHistory(address) view). The closeIronCondor function atomically executes the four-leg close: buying back the sold put lower, selling the bought put upper, buying back the sold call lower, and selling the bought call upper. The net cost (premiums paid to close minus premiums received from selling long positions) is calculated on-chain and paid by the user. Closing early may result in profit if the remaining time value has decayed and the position is in the profit zone, or loss if the market has moved against the initial trade. Transaction handling follows EIP-1559 gas price calculations using receipt.effectiveGasPrice for accurate cost reporting. Close metadata, including timestamps and amounts, is recorded in the contract's position history mapping, providing an auditable trail of all iron condor activity.

WHAT IT CANNOT SEE

This tool operates purely on-chain and cannot verify off-chain volatility — it does not assess market conditions, implied volatility, or whether closing at the current price is optimal. It cannot predict price movements — the tool cannot forecast whether the underlying asset price will move favorably or unfavorably before expiration. It cannot ensure close profitability — closing an iron condor may result in a loss if the current cost to buy back exceeds the premium initially collected. The tool cannot detect market manipulation, spoofing, or other forms of market abuse that might affect execution price. It also cannot guarantee execution price — the actual cost to close may differ from the estimate depending on market conditions and available liquidity.

PLEASE NOTE

This tool works exclusively with EVM-compatible blockchain networks (Ethereum, Polygon, Arbitrum, Optimism, Base, etc.). It requires the options contract to implement the four-position interface described above. All transactions incur gas fees paid by the connected wallet. The tool maintains no persistent storage — all state is refreshed from the blockchain on each session. Closing an iron condor involves buying back multiple options positions and carries significant risk including the potential for loss if the market has moved against the original position. Ensure you understand the iron condor strategy, the concept of early closing, and the risks before using this tool. Options are sophisticated financial instruments; consider consulting a financial advisor before trading options on-chain.