Key points Iron Condor ES/SPX 09 May 2022

Current expected movement from IV = 2.08%
At the same tim we estimate with a 80.2% confidence that the volatility for today is going to be below 1.97% for this the market will stay within
TOP 4167
BOT 4006
All of this being calculated with the opening value candle of today

From the fundamental point of view we have not big volatility news today

With all of this in mind, we can try a scalp entry for today with the next setup
Iron Condor for 0 DTE ES
Call Sell 4160
Call Buy 4185

Put Sell 4010
Put Buy 3985

This would give us an expectency of 0.41$ per each 1$ lost
At the same time we have a 80.2% probability so 80.2% * 0.41$ - 20%*1$ = 12.88$ ROI after 100 trades