Contraction Profit Target %
What it does
Profit target for contraction engine positions, expressed as a percentage of maximum credit received. When an open contraction position reaches this percentage of its maximum possible profit, ACondor closes it. The contraction engine also has a secondary exit: if IV Rank normalizes back below 30 (the vol has mean-reverted), the position closes regardless of profit percentage.
When to change it
Lower to 35-40% to take profits faster on contraction trades, which can reverse quickly if vol spikes again. Raising above 50% means holding longer to capture more premium but accepting more risk of the position turning against you.
Safe range
25% (quick exits, lower reward) to 75% (greedy, higher risk of reversal). Default 50% matches the mechanical engine.
Example
$0.80 credit contraction iron condor. At 50% profit target, close when the position is worth $0.40 (you've captured $0.40 of the $0.80 credit). If IV normalizes before reaching the profit target, the position closes anyway.