SHORT CALL CONDOR SPREAD	PUT BACKSPREAD
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..	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 Vs PUT BACKSPREAD - Details

	SHORT CALL CONDOR SPREAD	PUT BACKSPREAD
Market View	Volatile	Bearish
Type (CE/PE)	CE (Call Option)	PE (Put Option)
Number Of Positions	4	2
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

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

	SHORT CALL CONDOR SPREAD	PUT BACKSPREAD
Market View	Volatile	Bearish
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

SHORT CALL CONDOR SPREAD Vs PUT BACKSPREAD - Risk & Reward

	SHORT CALL CONDOR SPREAD	PUT BACKSPREAD
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	Limited	Unlimited

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

	SHORT CALL CONDOR SPREAD	PUT BACKSPREAD
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.