Remote Funded Iron Condor Specialist — Detroit, MI
Detroit, MI
Maverick Trading
Defined-risk, range-bound options strategies on liquid US equities and indices.
ET-aligned, dramatically low cost of living, and a financial industry being rebuilt around Rocket and the auto majors' finance arms.
An iron condor specialist at Maverick runs a focused book of defined-risk, range-bound options structures — primarily iron condors, with occasional double diagonals or butterflies when the volatility environment calls for them. The discipline is narrow on purpose: traders who do one thing well, repeatedly, with strict management rules, are exactly the profile we fund.
Trading from Detroit, MI
Detroit's financial industry is anchored by the auto industry's corporate-finance operations — GM, Ford, and Stellantis are all headquartered in or near the metro. Rocket Companies (formerly Quicken Loans) has built a major financial-services hub downtown. Eastern Time alignment with the NYSE.
Local ecosystem: GM HQ, Ford HQ nearby, Stellantis NA HQ, Rocket Companies; University of Michigan in nearby Ann Arbor.
Time zone: ET — the NYSE opens at 9:30am local for traders based in Detroit.
What You'll Trade
Iron condors on SPX, NDX, RUT, and a watchlist of high-liquidity ETFs and large-cap names. Cycle selection is typically 30–60 days to expiration; some traders also run a weekly book on indices. Strike selection is delta-based, not arbitrary, and follows a documented framework.
Day-to-Day
- Morning check: review tested strikes, time decay status, and any positions approaching adjustment thresholds
- If a new cycle is open, scan for entries that meet IV rank and probability-of-profit thresholds
- Execute adjustments on rule-based triggers: roll the tested side, close at defined loss multiples, never average in
- Track expectancy across hundreds of cycles — the strategy lives and dies by sample size, not single trades
Risk Profile
Iron condors lose worst in fast, one-directional moves and in vol spikes. Maverick caps max loss per cycle, total open-cycle risk, and concentration in any single underlying. We don't size for a normal market; we size for the bad months, knowing they show up roughly once a year.
Who Succeeds in This Role
- Traders who already have a rule-based iron condor framework and can articulate every decision in it
- People who can sit through tested strikes without flinching out of position
- Candidates comfortable with a strategy that wins often but takes occasional larger losses
- Traders who track win rate, average win, and average loss separately — not just net P&L
Why This Role Exists at Maverick
Iron condors are one of the most popular retail options strategies — and one of the most consistently mismanaged. Maverick funds traders who do this strategy professionally: with proper sizing, disciplined adjustments, and the math worked out across the full distribution of outcomes, not just the best case.
Common Mistakes We See
The two career-killers we see most often: (1) widening the strikes after losses to 'make it back' — this concentrates risk exactly when it should be reduced — and (2) holding losing condors past the planned adjustment point because expiration is 'close.' Both are explicitly prohibited under our framework.
What Maverick Offers
- Trade firm capital — no personal capital at risk
- 65%–90% profit split based on performance tier
- Performance-based capital scaling, no upper cap
- Professional training and mentorship from active traders
- Fully remote — trade from anywhere with reliable internet (US applicants)
- Monthly ACH payouts
- No challenge accounts, no evaluations, no monthly fees
About Maverick Trading
Maverick Trading is a proprietary trading firm founded in 1997. We allocate firm capital to disciplined traders and scale buying power based on performance. We are not a brokerage, we do not run challenge accounts, and we do not sell evaluations. We profit only when our traders profit.