Iron Condor Position Opener

WHAT IT DOES This tool enables DeFi traders and options strategists to open iron condor positions directly on-chain. An iron condor is a neutral options strategy that involves simultaneously selling a put spread (sell put lower, buy put upper) and selling a call spread (sell call lower, buy call upper), collecting net premium from both spreads. The strategy profits when the underlying asset price stays within the defined range between the two spreads at expiration, and is commonly used in low-volatility or range-bound markets. It connects to your wallet and reads the options contract address, underlying asset balance, put strike lower, put strike upper, call strike lower, call strike upper, put premiums, call premiums, expiration timestamp, option positions, exercise status, position history, and timestamps. The tool signs and submits transactions to open iron condor positions, collect net premium, manage positions, record position metadata, and emit strategy 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 option positions. 5. Configure the iron condor parameters: put strike lower and upper, call strike lower and upper, put premiums (lower/upper), call premiums (lower/upper), expiration timestamp, and number of iron condors to open. 6. Click "fetch current time" to auto-populate a suggested expiration (7 days from now), or manually set a future timestamp. 7. Click "validate strategy" to verify that strikes are correctly ordered (put lower < put upper < call lower < call upper), expiration is in the future, and your wallet can cover any net premium costs. 8. Review the displayed position information, underlying balance, and net premium (debit or credit). 9. Click "open iron condor" to sign and submit the transaction that simultaneously executes all four option legs, collecting or paying the net premium. 10. Click "close position" to close the iron condor before expiration if needed. TECHNICAL MECHANISM The tool uses ethers.js v5.7.2 to interact with any EVM-compatible options contract that implements a standard interface with four-strike support (getPutStrikeLower() view, getPutStrikeUpper() view, getCallStrikeLower() view, getCallStrikeUpper() view, getPutPremLower() view, getPutPremUpper() view, getCallPremLower() view, getCallPremUpper() view, getPutPosLower(address) view, getPutPosUpper(address) view, getCallPosLower(address) view, getCallPosUpper(address) view, getExpiration() view, getExerciseStatus(address) view, openIronCondor(uint256) external payable, closeIronCondor(uint256) external, getPositionHistory(address) view). The openIronCondor function atomically executes the four-leg trade: selling the lower put (collecting premium), buying the upper put (paying premium), selling the lower call (collecting premium), and buying the upper call (paying premium). The net premium (sum of premiums collected minus premiums paid) is either paid by or received by the user. The maximum profit is the net premium collected, while the maximum loss is limited to the difference between strike prices minus the net premium. Transaction handling follows EIP-1559 gas price calculations using receipt.effectiveGasPrice for accurate cost reporting. Position 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 the iron condor's strike ranges are appropriately positioned. It cannot predict price movements — the tool cannot forecast whether the underlying asset price will stay within the profit range, breach the put strikes, or exceed the call strikes. It cannot ensure strategy profitability — iron condors have limited profit potential and may result in losses if the asset price moves significantly outside the range. The tool cannot detect market manipulation, spoofing, or other forms of market abuse that might affect option pricing or exercise decisions. It also cannot guarantee risk management effectiveness — while iron condors limit risk, they do not eliminate it entirely and the potential for max loss remains. 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-strike 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. The iron condor strategy involves multiple options positions and carries significant risk including the potential for max loss if the asset price moves sharply. Ensure you understand the iron condor strategy, the concept of limited profit and limited loss, and the risks of options trading before using this tool. Options are sophisticated financial instruments; consider consulting a financial advisor before trading options on-chain.