What Is a Common Options Trading Strategy That Utilizes NTM Options?

A common strategy is the Iron Condor, which involves selling an OTM Call and an OTM Put, and buying a further OTM Call and Put for protection. The sold options are often chosen to be NTM (e.g.

0.30 Delta) to maximize the premium collected, while still being OTM. The strategy profits if the underlying price remains between the two short strikes.