The System · Poppa's Master Blueprint
SP500_Tight_Condor_Scan

The Scan Blueprint — every filter, locked in.

The exact parameters the scanner runs on. A tightened S&P 500 Iron Condor screen built to isolate only highly liquid, premium-rich, earnings-shielded names — and output a clean list of parent tickers, ready to trade.

UniverseS&P 500∩ optionable

Open Interest10k+per short strike

Implied Vol40%+no max

Delta Window±0.10symmetric OTM

Net Credit$0.35–0.85per package

DTE15–45regular monthly

Spread Cap≤ $0.05ask − bid

EarningsShieldedauto-excluded

Underlying Universe & Liquidity

Macro filters that strip out thousands of illiquid or stagnant equities, isolating only highly liquid, premier institutional targets.

Target Asset UniverseS&P 500 Index constituents intersecting with all optionable securities.

Baseline Contract LiquidityMinimum 10,000 open interest per short-strike row — for seamless fills and tight bid-ask spreads.

Implied Volatility FilterMinimum 40% IV to guarantee high-juice premium collection (max threshold left fully open).

Scanner Output FormatSwitched permanently to Stocks — a clean list of underlying parent tickers, not thousands of confusing individual option-leg rows.

Premium & Delta Risk Controls

The core options metrics governing probability of success, strike-width dynamics, and target net-credit yields.

Target Probability WindowSymmetrical out-of-the-money delta filtering, bounded tightly between −0.10 and +0.10 delta.

Individual Short-Leg TargetSearch strictly for individual contract bids between $0.35 and $0.55.

Packaged Net-Credit Sweet SpotFour-legged structure target net yield of $0.35 to $0.85 per package (after deducting $0.10–$0.12 protective OTM insurance wings). The wider floor safely captures conservative low-delta strikes even when wings price slightly higher.

Time, Expiration & Execution

Operational rules that isolate uniform regular calendar options while wiping out near-term bid-ask friction.

Strategy Lifecycle ZoneStrict rolling window of 15 minimum to 45 maximum DTE to maximize rapid options time decay.

Chain Selection IsolationExpiration types limited strictly to regular monthly contracts — filters out illiquid weekly anomalies.

Market-Fills Execution ScriptDaily aggregation study enforcing a strict $0.05-or-lower ask − bid spread to protect against slippage.

thinkScript · spread guard

plot scan = (close(priceType = "ASK") - close(priceType = "BID")) <= 0.05;

Systematic Risk Avoidance & Shielding

An active warning system that completely isolates positions from binary, unpredictable corporate gap-up / gap-down events.

Scan Exclusion FilterAutomatic exclusion of any company with a public earnings announcement from 5 days before the 15–45 DTE window through 2 days after the monthly expiration date.

thinkScript · earnings monitor (NaN-safe)

def next = GetEventOffset(Events.EARNINGS, 0);
def prev = GetEventOffset(Events.EARNINGS, -1);
plot DaysToEarnings = if !IsNaN(next) then next else if !IsNaN(prev) then -prev;
AssignBackgroundColor(if DaysToEarnings > 0 and DaysToEarnings <= 45 then Color.DARK_RED else Color.CURRENT);

Skip any ticker showing a positive number in dark red (earnings fall inside the strategy lifespan). Only trade tickers showing blank cells or negative numbers (earnings are clear or already passed).

Workspace Integration & Manual Deployment

Binds the automated background scanner directly to manual execution tabs — preventing automated multi-leg pricing traps.

Scan Query StorageSaved permanently under SP500_Tight_Condor_Scan.

Watchlist Layout StorageSaved permanently under Condor_Scan_View.

Dynamic Data Pipeline RoutingSidebar Live Watchlist and the Main Navigation Trade Tab are explicitly linked via Red Link (1).

Order-Entry WorkflowClicking a clean symbol pushes its option chain to the Trade Tab. The Ctrl-key manual build method prevents the platform from building distorted, toxic ITM spreads on high-priced assets.