Here's my standard SPY iron condor with the call side set up at the edge of the expected move for the expiration and the put side setup around the 1 SD line (84% Probability Out of the Money):
Feb 26th 173/176/201/204 SPY iron condor
Probability of Profit: 62%
Max Profit: $100/contract
Buying Power Effect: ~$200
Break Evens: 175/202
Notes: Unlike some of the longer-dated "dynamic" iron condors where I roll the put/call sides toward current price when it's profitable to do so, I'll look to take this entire setup off as a unit at 50% profit and then redeploy the buying power .... .