In a smaller account, efficient capital management is crucial.
Generally, this means defining our risk on trades using long options.
We can size our trades as large or small as we want. Our risk, and thus buying power requirement, is going to merely be a function of the width of the Iron Condor.
Adding wings to volatile single-stock markets that require a larger percentage of the underlying in BPR can both reduce risk and make the trade more efficient.
Turning Strangles into Iron Condors is one of our go-to strategies for making options trades more efficient.