Last update: July 2021
Coach G uses this strategy in the Options Report quite a bit; it is one of his specialties: the Debit Condor, a.k.a. DebiCon, is a bi-directional options strategy.
In this video tutorial, you will learn how to set up a Debit Condor (DebiCon) in Thinkorswim (TOS).
This is a recent pick ($UNP) where he sets up a Debit Condor play using options to make money if the stock moves up or down in the near future.
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Thinkorswim (TOS) Tutorial: How to place the entry order in a Short Stock position
In this Thinkorswim video tutorial, Coach Matt teaches how to place the entry order on a short stock position.
Thinkorswim (TOS) Tutorial: How to determine the Market Maker Move (MMM) for earnings gaps
In this video tutorial, you will learn how to determine the Market Maker Move (MMM) for earnings gaps in Thinkorswim.
Thinkorswim (TOS) Tutorial: How to display multiple charts in the same window
In this video tutorial, you will learn how to adjust Thinkorswim (TOS) to show multiple charts in the same window.
Thinkorswim (TOS) Tutorial: How to place a contingency order for a long put option with a stop loss
In this Thinkorswim (TOS) video tutorial, join Coach D. to learn how to place a contingency order for a long put option with a stop loss the right way.
Thinkorswim (TOS) Tutorial: Thinkorswim interface walkthrough and basic platform setup
In this Thinkorswim (TOS) tutorial video, Coach Matt Justice does an interface walkthrough and basic platform setup to show new traders how this powerful trading platform works.
Thinkorswim (TOS) Tutorial: How to increase the font size and memory in Thinkorswim
In this video tutorial, Coach G shows how to increase font size and memory to make navigating and performance of Thikorswim Platform (TOS) much easier and better.
Thinkorswim (TOS) Tutorial: How to set up the Monitor Tab in Thinkorswim
In this video tutorial, Coach Gino Poore shows how to setup the monitor tab in Thinkorswim (TOS) by adding trade price, Delta, and Theta to your trading positions.
Thinkorswim (TOS) Tutorial: Memory Cleanup
In this tutorial, Coach Gino Poore shares another trick for using the Thinkorswim (TOS) platform to help speed up the data.
Thinkorswim (TOS) Tutorial: How to set up a Debit Condor (DebiCon) in Thinkorswim
In this video tutorial, you will learn how to set up a Debit Condor (DebiCon) in Thinkorswim (TOS).
Thinkorswim (TOS) Tutorial: How to adjust the Risk Graph for Theta in Thinkorswim
In this video tutorial, Coach Matt takes a look at how to adjust the Risk Graph for Theta (measuring Time Decay) using in Thinkorswim (TOS) trading platform.
Thinkorswim (TOS) Tutorial: How to link all tabs and pages and save time in Thinkorswim
In this video tutorial, Coach G shows shares a great time saver technique on how to link all your tabs and pages in the Thinkorswim (TOS) platform.
Thinkorswim (TOS) Tutorial: How to set an Option Limit Order and Stock Trigger
Coach G. shows you how to enter an option with a limit order when the stock triggers an entry price.
Forex Trading 101: Order Entry (Thinkorswim Tutorial)
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Thinkorswim (TOS) Tutorial: How to set up a Customized Contingent Bracket Order (OCO) – Part 1 of 3
In this tutorial video (Part 1), Coach Gino Poore shows how to set up a “customized” bracket order he built in Thinkorswim (TOS).
Thinkorswim (TOS) Tutorial: How to set up a Customized Contingent Bracket Order (OCO) – Part 2 of 3
In this tutorial video (Part 2), Coach Gino Poore shows how to set up a “customized” bracket order he built in Thinkorswim (TOS).
Thinkorswim (TOS) Tutorial: How to set up a Customized Contingent Bracket Order (OCO) – Part 3 of 3
In this tutorial video (Part 3), Coach Gino Poore shows how to set up a “customized” bracket order he built in Thinkorswim (TOS).
Thinkorswim (TOS) Tutorial: Adding ATR and Expected Move to Chart corner
In this Thinkorswim Tutorial, Coach Gino Poore teaches you how to add ATR and Expected Move to Chart corner.
Thinkorswim (TOS) Tutorial: How to Set Up and Manage Alerts in Thinkorswim
In this video tutorial, Coach G. shares another useful tip on setting up and managing alerts using Thinkorswim (TOS).
Thinkorswim (TOS) Tutorial: How to Add Probability Cones to Charts in Thinkorswim
In this video tutorial, Coach Gino shows how to add the Probability Cones to your Thinkorswim (TOS) charts to project price ranges going forward.
Forex Trading 101: Charting the US Dollar (Thinkorswim Tutorial)
In this Forex Trading 101 Thinkorswim tutorial video, Coach T talks about how to chart the US Dollar against the major cross-pairs using the famous TOS trading platform.
Morning Mailbag: How to calculate PIP Risk in Thinkorswim (TOS Tutorial)
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Morning Mailbag: How to set a Stop Loss in Thinkorswim (TOS)
In this video tutorial, Coach T teaches how to set a stop loss on positions you already have in Thinkorswim (TOS).
Morning Mailbag: How to control risk in a Credit Spread in Thinkorswim (TOS)
In this edition, Coach T answers a question regarding the risk management of a credit spread in Thinkorswim (TOS).
Options 101: Managing Credit Spreads (Thinkorswim Tutorial)
In this tutorial video, Coach T shows how to manage a credit spread and how to set up a contingency in ThinkOrSwim.
Thinkorswim (TOS) Tutorial: How to use the Monitor Tab in Thinkorswim
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Options 101: Risk Graph Basics (Thinkorswim Tutorial)
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Options 101: How to set Basic Stops on Naked Puts and Covered Calls
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Thinkorswim (TOS) Tutorial: How to Beta Weight and Portfolio Hedge in Thinkorswim
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Thinkorswim (TOS) Tutorial: How to use the Monitor Tab in Thinkorswim
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Thinkorswim (TOS) Tutorial: How to add ATR and Implied Volatility overlapped on a chart in Thinkorswim
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Thinkorswim (TOS) Tutorial: Thinkorswim for Beginners Video Collection
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Thinkorswim (TOS) Tutorial: Managing Stock Trades in Thinkorswim
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Thinkorswim (TOS) Tutorial: How to set up My Tools Bar in Thinkorswim
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Thinkorswim (TOS) Tutorial: How to place an Order Entry on a Credit Spread in Thinkorswim
In this Thinkorswim video tutorial, you will learn how to input the entry, target, and stop-loss and when exactly you would use the “Limit Linked To” feature.
Tales of a Technician: How to use the Thinkorswim Market Maker Move Tool
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Thinkorswim (TOS) Tutorial: How to place a Short Strangle order in TOS
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Options Theory: How to enter Covered Calls in ThinkorSwim with Contingent Orders
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Options Theory: Iron Condors
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Options Theory: How to use ThinkorSwim Analyze Tab
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6 Replies to “Thinkorswim (TOS) Tutorial: How to set up a Debit Condor (DebiCon) in Thinkorswim”
Thanks a lot Gino! That was very simple.
Out of curiosity, why do you choose the 3 point spread? Should we choose a 3 point spread on every DebiCon?
Hi Solon,
I use 2 to 3 point spreads when the strikes are 1 point apart. I never hardly do a 1 point spread because the net delta of the spread is really low. But a 1 pt. spread is the cheapest way to trade and necessary sometimes for small accounts. A 2 pt. spread will have a better or higher delta, and a 3 pt. spread even better. Tehn it comes down to cost, you are going to pay much more for a 3 pt spread than a 1 pt. spread.. So to keep the cost around .40 to .70 cents per Contract and keep it relatively cheap a 2 or 3 point spread will suffice. Also i willl sometimes do a 5 point spread if that is the absolute smallest that the chain will allow. But again I want a good price and decent width of spread so I can do a decent amount of contracts. Hope this helps.
Thanks Coach G.
Hey !
I really like this strategy, are there any adjustments technics you use when/if a DebiCon goes sour and the stock doesn’t move outside of the range?
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