Live Iron Condor and Iron Butterfly Prices

The iron sheets show the live price of every iron condor and iron butterfly around the ATM (at-the-money) strike. Each row is a centre strike, each column is how far the bought wings sit from it, and each cell is priced from the live bid and ask of all four legs.

Shows	Iron condor and iron butterfly prices, side by side
Grid	Rows = centre strike, columns = strangle width in points
Iron condor	Straddle width sets where the short legs sit (default 2 strike gaps, e.g. 100 on NIFTY)
Iron butterfly	Short legs on the centre strike
Pricing	Live bid and ask of all four legs; sell (credit) and buy values
Instruments	NIFTY, BANKNIFTY, SENSEX, FINNIFTY, MIDCPNIFTY, BANKEX; current and next NIFTY and SENSEX expiries
Updates	Streams live during market hours
Open it	quintalmind.com/sheets

What a cell means

Two widths are measured from the centre strike C:

• Straddle width T: centre to each short leg. It is 0 on the iron butterfly.
• Strangle width W (the column): centre to each long leg. It is always larger than T.

The legs are:

• Sell 1 call at C + T, rounded up to the strike grid
• Sell 1 put at C − T, rounded down to the strike grid
• Buy 1 call at C + W, rounded up to the strike grid
• Buy 1 put at C − W, rounded down to the strike grid

The values are:

• Sell = bid(short call) + bid(short put) − ask(long call) − ask(long put). This is the credit received for selling the structure.
• Buy = ask(short call) + ask(short put) − bid(long call) − bid(long put). This is what it costs to buy the same structure (the reverse legs).

Buy is always at least as large as Sell; the difference is the round-trip bid-ask cost.

Example (illustrative): an iron condor on NIFTY with C = 24000, T = 100 and W = 300 sells the 24100 call and 23900 put and buys the 24300 call and 23700 put. The iron butterfly with W = 300 sells the 24000 call and put and buys the 24300 call and 23700 put.

Try itIron condor / iron butterfly (sell value legs)Illustrative NIFTY strikes, gap 50

Centre C: 24000Straddle width T: 100Strangle width W: 300

1. Buy 123700PE
2. Sell 123900PE
3. Sell 124100CE
4. Buy 124300CE

Value of these legs at expiry across spot prices, in points, before premiums. It shows the shape of the structure only; the live sheet shows the actual net price.

How to use it

1. Sign in with your broker and turn on Iron Condor and Iron Butterfly in Profile → Sheet layout. They are off by default.
2. Open Sheets and pick a symbol. The IRON CONDOR and IRON BUTTERFLY sheets appear; click a strip to open or close it.
3. On the iron condor, use Straddle: − and + to move the short legs. On both sheets, use the Strangle: steppers to set the smallest and largest column.
4. Use the ↑ and ↓ arrows to move the strike window. The table title reads, for example, SHORT 100 / LONG STRANGLE or SHORT STRADDLE + LONG STRANGLE.
5. Click a cell to see its four legs, Net, Margin, Qty / 1 Cr and Charges (RT) (round-trip charges), and Show Chart for an intraday chart.
6. Double-click a cell to mark it.

Broker basket

If you signed in with Zerodha, Alice Blue or FYERS, the leg popup also shows Buy and Sell buttons that open the legs as a basket on your broker's own page. Quintal Mind does not place the order.

Related

• Butterfly prices shows long butterflies built from calls or puts only.
• Four-leg ratio spread prices a call ratio and a put ratio together.
• Custom spread lets you build any 2 to 6 leg structure.

FAQ

Where can I see live Nifty iron condor prices?

On the Quintal Mind Sheets page, in the IRON CONDOR sheet. Turn it on in Profile, Sheet layout. Each row is a centre strike and each column a strangle width.

What is the difference between the iron condor and iron butterfly sheets?

In the iron butterfly the two short legs sit on the centre strike, a short straddle. In the iron condor the short legs sit a set distance away, set with the Straddle control.

What do the Sell and Buy values mean on the iron sheets?

Sell is the credit received for selling the structure at the bid and ask. Buy is the amount paid to buy the same structure. The gap between them is the cost of crossing the spread.