Many traders who use 0DTE Breakeven Iron Condors – or Multiple Entries Iron Condors (MEIC) – aim to maximize profits by letting the positions expire. But Anton Dentchouk has taken a different approach. In this interview, he explains why he prefers smaller but more consistent gains – and how tighter profit targets and tighter stop losses have helped him navigate volatile markets with lower drawdowns.
Watch Anton explain his early exits 0DTE Iron Condors
Anton Dentchouk
Anton Dentchouk is an options trader based in Los Angeles who focuses on automated SPX 0DTE Iron Condor trading. After discovering the MEIC (Multiple Entry Iron Condor) – or 0DTE Breakeven Iron Condors – strategy several years ago, he developed his own variation designed to prioritize consistency and capital preservation over maximizing returns.
This is 0DTE Breakeven Iron Condor (MEIC)
The starting point for the discussion is the 0DTE Breakeven Iron Condor strategy, also known as Multiple Entries Iron Condors (MEIC).
The core idea is simple:
- Sell multiple 0DTE SPX Iron Condors throughout the trading day
- Set the stop-loss on each side equal to the total premium collected for the Iron Condor.
- If the stop-loss hits on one side, the trade will be close to breakeven as the stop-loss is equal to the premium collected. If both stop-losses are hit, you will have a loss.
- Most traders will let the profitable trades expire worthless, or close the shorts for a very small price.
- The strategy exploits time decay and the tendency for implied volatility to exceed realized volatility
For additional background:
- How John Einar Sandvand trades 0DTE Breakeven Iron Condor
- How Tammy Chambless trades Multiple Entries Iron Condor (MEIC)
Why Anton prefers early exit 0DTE Iron Condors
Anton has made two important changes to the strategy:
- He closes for a profit much earlier
- He also has tighter stop-losses than most traders who use the strategy
Anton’s philosophy is built around one idea: Secure profits earlier instead of waiting for maximum gains.
Instead of holding positions until near expiration, he gradually scales out of trades once partial profits are reached. His goal is not to maximize returns during strong months, but to smooth out returns over time and reduce drawdowns during volatile periods.
As he explains in the interview, many of the larger accounts he manages prioritize consistency over aggressive returns. For those investors, avoiding large drawdowns is more important than squeezing every dollar out of each trade.
His version of the early exit 0DTE Iron Condors strategy uses:
- Partial profit taking at 25% gains
- Full exits around 50% gains
- Much tighter stop losses than traditional MEIC trading
The trade-off is straightforward:
- Lower potential upside during calm markets
- Smaller losses and lower drawdowns during highly volatile markets
According to Anton, this adjustment worked particularly well during the volatile market conditions earlier this year.
How Anton structures his early exit 0DTE Iron Condors trades
Anton trades SPX exclusively because of its liquidity and tight bid-ask spreads.
His entries begin around 11:00 AM Eastern Time and continue throughout the trading day, usually every 15 to 20 minutes.
Some of the key elements of his setup include:
Wider wings
While many MEIC traders use 40–50 point wide spreads, Anton typically uses 80–100 point wide wings.
This allows him to position strikes farther away from the current market price while still collecting meaningful premium.
Smaller profit targets
A typical trade may collect around $3.00 total premium.
Instead of waiting for the full premium to decay, Anton starts scaling out earlier:
- He may close half the position at 25% profit
- Close the remainder at around 50% profit
This reduces the risk of sudden reversals turning winning trades into losing trades later in the day.
Tighter stop-losses
One of the biggest differences in his approach is the stop-loss placement.
Traditional MEIC traders often use stop losses around 100% of collected premium. Anton instead uses stop losses around 65%–75% of collected premium.
For example:
- If he collects $3 in premium for the whole Iron Condor
- His stops on each side may trigger around $1.95 (65%)
According to Anton, tighter stops can reduce slippage during fast market moves because orders are triggered earlier than wider stops.
Fully automated trading
Another major component of Anton’s strategy is automation.
He uses both Trade Steward and Trade Automation Toolbox (TAT) to automate entries, exits, stop losses, and profit taking.
Automation helps him:
- Remove emotional decision-making
- Execute trades consistently
- Trade while traveling
- Manage multiple accounts simultaneously
He also adjusts position sizing dynamically based on historical win rates for specific entry times during the day.
For example:
- Higher historical win rates receive larger position sizes
- Lower win rate entry windows use fewer contracts
This creates a more adaptive approach instead of treating every entry equally.
Risk management and drawdowns
One of the most interesting parts of the interview is Anton’s focus on risk control.
He estimates his strategy at roughly a “3 or 4” on a 1–10 risk scale.
Some of the key risk management principles include:
- No overnight positions
- Tight stop losses
- Early profit taking
- Multiple smaller entries instead of one large position
- Dynamic adjustments during volatile sessions
Anton also notes that his approach aims to reduce the likelihood of double stop losses – a common challenge for traditional 0DTE Breakeven Iron Condor/MEIC traders during fast intraday reversals.
Performance expectations
Anton emphasizes that his strategy is designed for consistency rather than maximizing returns.
His stated goal is roughly:
- 2%–5% monthly returns on buying power
- Lower monthly volatility
- Smaller drawdowns than traditional MEIC approaches
So far, he says the strategy has produced encouraging results. During March 2026 — a difficult month for many 0DTE traders due to sharp intraday market swings — Anton reports that one of his TradeSteward accounts returned approximately 4.8% on buying power. He also states that his average winning days have been larger than his average losing days, with an overall win rate around 56%–57%.
Anton openly acknowledges that his approach will likely underperform traditional 0DTE Breakeven Iron Condor strategies in calmer market environments due to earlier profit-taking. However, he believes the smoother equity curve and reduced drawdowns are worth the trade-off for larger accounts focused on consistency.