I was looking at my RUT Condor this morning and noticed the levels at wich I'd be down 1.5x my cashflow were a bit off from what I saw Yesterday on the TOS profile chart.
In a nutshell, it was telling me that based on Today's live price action I'd have to close the trade wen my short delta gets to around 30 on the CALL side and -28 on the PUT side.
That makes sense: I started the trade with short 8 or 9on each side, when they go to being short 28, it is telling me the probabilities are no longer favorable and the best course of action at that point is to preserve capital and exit at a loss.
Bellow are the profile charts I'm talking about:
PUT Short delta
P/L on the PUT side (~ -1.5x cashflow)
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