STRAP	IRON CONDORS
About Strategy	Strap Option Strategy  Strap Strategy is similar to Long Straddle, the only difference is the quantity traded. A trader will buy two Call Options and one Put Options. In this strategy, a trader is very bullish on the market and volatility on upside but wants to hedge himself in case the stock doesn’t perform as per his expectations. This strategy will make more profits compared to long straddle sin Read more..	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..

STRAP Vs IRON CONDORS - Details

	STRAP	IRON CONDORS
Market View	Neutral	Neutral
Type (CE/PE)	CE (Call Option) + PE (Put Option)	CE (Call Option) + PE (Put Option)
Number Of Positions	3	4
Strategy Level	Beginners	Advance
Reward Profile	Profit Achieved When Price of Underlying > Strike Price of Calls/Puts + (Net Premium Paid/2) OR Price of Underlying < Strike Price of Calls/Puts - Net Premium Paid	Limited
Risk Profile	Max Loss Occurs When Price of Underlying = Strike Price of Calls/Puts	Limited
Breakeven Point	Strike Price of Calls/Puts + (Net Premium Paid/2)	Upper Breakeven Point = Strike Price of Short Call + Net Premium Received, Lower Breakeven Point = Strike Price of Short Put - Net Premium Received

STRAP Vs IRON CONDORS - When & How to use ?

	STRAP	IRON CONDORS
Market View	Neutral	Neutral
When to use?	This strategy is used when the investor is bullish on the stock and expects volatility in the near future.	When a trader tries to make profit from low volatility in the price of the underlying asset.
Action	Buy 2 ATM Call Option, Buy 1 ATM Put Option	Sell 1 OTM Put, Buy 1 OTM Put (Lower Strike), Sell 1 OTM Call, Buy 1 OTM Call (Higher Strike)
Breakeven Point	Strike Price of Calls/Puts + (Net Premium Paid/2)	Upper Breakeven Point = Strike Price of Short Call + Net Premium Received, Lower Breakeven Point = Strike Price of Short Put - Net Premium Received

STRAP Vs IRON CONDORS - Risk & Reward

	STRAP	IRON CONDORS
Maximum Profit Scenario	UNLIMITED	Net Premium Received - Commissions Paid
Maximum Loss Scenario	Net Premium Paid	Strike Price of Long Call - Strike Price of Short Call - Net Premium Received + Commissions Paid
Risk	Limited	Limited
Reward	Unlimited	Limited

STRAP Vs IRON CONDORS - Strategy Pros & Cons

	STRAP	IRON CONDORS
Similar Strategies	Strip, Short Put Ladder, Short Call Ladder	Long Put Butterfly, Neutral Calendar Spread
Disadvantage	• To generate profit, there should be significant change in share price. • Expensive strategy.	• Full of risk. • Unlimited maximum loss.
Advantages	• Limited loss. • If share prices are moving then traders can book unlimited profit. • A trader can still book profit if the underlying falls substantially.	• Chance to gather double premium. • Sure, maximum gains on one-half the trade. • Flexible and double leverage at half price.