SHORT CALL CONDOR SPREAD	SHORT GUTS
About Strategy	Short Call Condor Spread Option Strategy Short Call Condor Spread is the opposite of Long Call Condor Spread i.e. sell 1 Deep ITM Call Option, buy 1 ITM Call Option, buy 1 OTM Call Option, sell 1 Deep OTM Call Option. Similar to Long Call Condor, the risk and rewards associated with this strategy are limited. Credit is received at the time of entering into this strategy. Read more..	Short Guts Option Strategy  This strategy is implemented by a trader when he is neutral on the movements and bearish on volatility i.e. he expects the stock to be range bound in the near future. This strategy involves sale of 1 ITM Call Option and 1 ITM Put Option. This strategy can be called as Credit Spread since his account is credited at the time of entering in the positions. < .. Read more..

SHORT CALL CONDOR SPREAD Vs SHORT GUTS - Details

	SHORT CALL CONDOR SPREAD	SHORT GUTS
Market View	Volatile	Neutral
Type (CE/PE)	CE (Call Option)	CE (Call Option) + PE (Put Option)
Number Of Positions	4	2
Strategy Level	Advance	Beginners
Reward Profile	Limited	Limited
Risk Profile	Limited	Unlimited
Breakeven Point	Lower Breakeven = Lower Strike Price + Net Premium, Upper breakeven = Higher Strike Price - Net Premium	Upper Breakeven Point = Net Premium Received + Strike Price of Short Call, Lower Breakeven Point = Strike Price of Short Put - Net Premium Received

SHORT CALL CONDOR SPREAD Vs SHORT GUTS - When & How to use ?

	SHORT CALL CONDOR SPREAD	SHORT GUTS
Market View	Volatile	Neutral
When to use?	This strategy is used when an investor expect the price of the underlying stock to be very volatile.	This strategy is implemented by a trader when he is neutral on the movements and bearish on volatility i.e. he expects the stock to be range bound in the near future.
Action	Buy ITM Call Option + Buy OTM Call Option + Sell Deep OTM Call Option + Sell Deep ITM Call Option	Sell 1 ITM Call, Sell 1 ITM Put
Breakeven Point	Lower Breakeven = Lower Strike Price + Net Premium, Upper breakeven = Higher Strike Price - Net Premium	Upper Breakeven Point = Net Premium Received + Strike Price of Short Call, Lower Breakeven Point = Strike Price of Short Put - Net Premium Received

SHORT CALL CONDOR SPREAD Vs SHORT GUTS - Risk & Reward

	SHORT CALL CONDOR SPREAD	SHORT GUTS
Maximum Profit Scenario	Strike Price of Lower Strike Short Call - Strike Price of Lower Strike Long Call - Net Premium Paid	Net Premium Received + Strike Price of Short Put - Strike Price of Short Call - Commissions Paid
Maximum Loss Scenario	Strike Price of Lower Strike Long Call - Strike Price of Lower Strike Short Call - Net Premium Received + Commissions Paid	Price of Underlying - Strike Price of Short Call - Net Premium Received OR Strike Price of Short Put - Price of Underlying - Net Premium Received + Commissions Paid
Risk	Limited	Unlimited
Reward	Limited	Limited

SHORT CALL CONDOR SPREAD Vs SHORT GUTS - Strategy Pros & Cons

	SHORT CALL CONDOR SPREAD	SHORT GUTS
Similar Strategies	Short Strangle	Short Strangle (Sell Strangle), Short Straddle (Sell Straddle)
Disadvantage	• Amount of profit is low in comparison with other strategies. • As this strategy has 4 legs so the brokerage cost is higher that will affect your profit.	• Unlimited potential loss if the underlying stock continues to move in one direction. • High margin required.
Advantages	• This strategy allows you to profit from highly volatile underlying assets moving in any direction. • Earn profit with little or no investment. • Wider profit zone.	• Ability to profit even when underlying asset stays stagnant. • You are already paid your full profit the moment the position is put on as this is a credit spread position. • Higher chance of ending in full profit as compared to short strangle or short straddle.