PUT BACKSPREAD	SHORT CALL CONDOR SPREAD
About Strategy	Put Backspread Option Strategy If the trader is bearish on market and bullish in volatility, he will implement this strategy. However the trader can be neutral in nature i.e. indifferent if the market moves in either of the direction, this strategy will make profits, but uptrend will give a capped income than downtrend which will give unlimited returns. Read more..	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..

PUT BACKSPREAD Vs SHORT CALL CONDOR SPREAD - Details

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

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

	PUT BACKSPREAD	SHORT CALL CONDOR SPREAD
Market View	Bearish	Volatile
When to use?		This strategy is used when an investor expect the price of the underlying stock to be very volatile.
Action		Buy ITM Call Option + Buy OTM Call Option + Sell Deep OTM Call Option + Sell Deep ITM Call Option
Breakeven Point		Lower Breakeven = Lower Strike Price + Net Premium, Upper breakeven = Higher Strike Price - Net Premium

PUT BACKSPREAD Vs SHORT CALL CONDOR SPREAD - Risk & Reward

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

PUT BACKSPREAD Vs SHORT CALL CONDOR SPREAD - Strategy Pros & Cons

	PUT BACKSPREAD	SHORT CALL CONDOR SPREAD
Similar Strategies		Short Strangle
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.
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.