Research on zero day-to-expiration (zero DTE) iron flies reveals that aggressive profit-taking strategies yield impressive results across volatility environments. The study examined various wing widths and profit targets, finding that 10% profit targets consistently deliver the highest win rates, particularly with $10-wide wings.

Contrary to conventional wisdom, zero DTE iron flies performed best in low volatility environments (VIX IVR under 15), with win rates reaching 77% for $10-wide wings. Performance in high volatility (VIX IVR over 25) showed reduced win rates (61%) and lower profitability, challenging typical premium-selling assumptions.

The research demonstrates that rapid trade management is crucial, with narrow wings and early exits producing the most favorable risk-adjusted returns regardless of market conditions.