IRON CONDORS	LONG GUTS
About Strategy	Iron Condors Option Strategy Iron Condor is a neutral trading strategy. A trader tries to make profit from low volatility in the price of the underlying asset. This strategy will be better understood if you recall ‘Bull Put Spread’ & ‘Bear Call Spread’. A trader will buy one Deep OTM Put Option and sell one OTM Put Option,. He will also sell one OTM Call Option and buy one Deep OTM Call Option. Read more..	Long Guts Option Strategy  This strategy is implemented by a trader when he is neutral on the movements and bullish on volatility i.e. he expects the stock to move in either direction with high magnitude. This strategy involves buying 1 ITM Call Option and 1 ITM Put Option. This strategy can be called as Debit Spread because trader’s account is debited at the time of entering the positions.< .. Read more..

IRON CONDORS Vs LONG GUTS - Details

	IRON CONDORS	LONG GUTS
Market View	Neutral	Neutral
Type (CE/PE)	CE (Call Option) + PE (Put Option)	CE (Call Option) + PE (Put Option)
Number Of Positions	4	2
Strategy Level	Advance	Beginners
Reward Profile	Limited	Unlimited
Risk Profile	Limited	Limited
Breakeven Point	Upper Breakeven Point = Strike Price of Short Call + Net Premium Received, Lower Breakeven Point = Strike Price of Short Put - Net Premium Received	Upper Breakeven Point = Net Premium Paid + Strike Price of Long Call, Lower Breakeven Point = Strike Price of Long Put - Net Premium Paid

IRON CONDORS Vs LONG GUTS - When & How to use ?

	IRON CONDORS	LONG GUTS
Market View	Neutral	Neutral
When to use?	When a trader tries to make profit from low volatility in the price of the underlying asset.	This strategy is implemented by a trader when he is neutral on the movements and bullish on volatility i.e. he expects the stock to move in either direction with high magnitude.
Action	Sell 1 OTM Put, Buy 1 OTM Put (Lower Strike), Sell 1 OTM Call, Buy 1 OTM Call (Higher Strike)	Buy 1 ITM Call, Buy 1 ITM Put
Breakeven Point	Upper Breakeven Point = Strike Price of Short Call + Net Premium Received, Lower Breakeven Point = Strike Price of Short Put - Net Premium Received	Upper Breakeven Point = Net Premium Paid + Strike Price of Long Call, Lower Breakeven Point = Strike Price of Long Put - Net Premium Paid

IRON CONDORS Vs LONG GUTS - Risk & Reward

	IRON CONDORS	LONG GUTS
Maximum Profit Scenario	Net Premium Received - Commissions Paid	Price of Underlying - Strike Price of Long Call - Net Premium Paid OR Strike Price of Long Put - Price of Underlying - Premium Paid
Maximum Loss Scenario	Strike Price of Long Call - Strike Price of Short Call - Net Premium Received + Commissions Paid	Net Premium Paid + Strike Price of Long Put - Strike Price of Long Call + Commissions Paid
Risk	Limited	Limited
Reward	Limited	Unlimited

IRON CONDORS Vs LONG GUTS - Strategy Pros & Cons

	IRON CONDORS	LONG GUTS
Similar Strategies	Long Put Butterfly, Neutral Calendar Spread	Short Put Ladder, Strip, Strap
Disadvantage	• Full of risk. • Unlimited maximum loss.	• More commission involved than simply buying call or put option. • Expensive.
Advantages	• Chance to gather double premium. • Sure, maximum gains on one-half the trade. • Flexible and double leverage at half price.	• Investors can get unlimited profit if the underlying asset goes up or down. • Ability to profit no matter if the market goes in either direction. • Limited loss.