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# Iron Condor Strategy Creation for Hedged Margin Benefit

This thread will discuss steps to create Iron Condor Strategy with Hedged Margin Benefit, where:

* We Buy the OTM Call and OTM Put hedge positions first to get margin benefit.
* We Sell Straddle or a Strangle after the hedge is already bought, to get margin benefit.
* We make sure to follow steps to exit the Short positions first when squaring off.
*  We square off the hedges bought only after the short positions have already been squared off


###### Set 1 Entry:

![](https://storage.crisp.chat/users/helpdesk/website/948b8c26d046a000/image_9fv2lo.png)



###### Set 1 Exit:

![](https://storage.crisp.chat/users/helpdesk/website/948b8c26d046a000/image_1i5ebbb.png)


###### Set 2: Entry

![](https://storage.crisp.chat/users/helpdesk/website/948b8c26d046a000/image_1oekqwu.png)


###### Set 2 Exit:

![](https://storage.crisp.chat/users/helpdesk/website/948b8c26d046a000/image_1kthwq8.png)


###### Universal Exit:

![](https://storage.crisp.chat/users/helpdesk/website/948b8c26d046a000/image_1n1c835.png).


Also, please check the below video:


${youtube}[Hedged straddle (exit sell leg first)](dAUbezEF718)