REVERSE IRON CONDOR	PUT BACKSPREAD
About Strategy	Reverse Iron Condor Option Strategy Reverse Iron Condor as the name suggests is the opposite of Iron Condors. In Reverse Iron Condor, a trader is bullish about volatility and expects the market to make a significant move in the near future in either direction. Here a trader will buy 1 OTM Call Option, sell 1 Deep OTM Call Option, buy 1 OTM Put Option, sell 1 Deep OTM Put Option. This strategy also 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..

REVERSE IRON CONDOR Vs PUT BACKSPREAD - Details

	REVERSE IRON CONDOR	PUT BACKSPREAD
Market View	Neutral	Bearish
Type (CE/PE)	CE (Call Option) + PE (Put Option)	PE (Put Option)
Number Of Positions	4	2
Strategy Level	Advance	Advance
Reward Profile	Limited
Risk Profile	Limited
Breakeven Point	Upper Breakeven Point = Strike Price of Long Call + Net Premium Paid, Lower Breakeven Point = Strike Price of Long Put - Net Premium Paid

REVERSE IRON CONDOR Vs PUT BACKSPREAD - When & How to use ?

	REVERSE IRON CONDOR	PUT BACKSPREAD
Market View	Neutral	Bearish
When to use?	In Reverse Iron Condor, a trader is bullish about volatility and expects the market to make a significant move in the near future in either direction
Action	Buy 1 OTM Put, Sell 1 OTM Put (Lower Strike), Buy 1 OTM Call, Sell 1 OTM Call (Higher Strike)
Breakeven Point	Upper Breakeven Point = Strike Price of Long Call + Net Premium Paid, Lower Breakeven Point = Strike Price of Long Put - Net Premium Paid

REVERSE IRON CONDOR Vs PUT BACKSPREAD - Risk & Reward

	REVERSE IRON CONDOR	PUT BACKSPREAD
Maximum Profit Scenario	Strike Price of Short Call (or Long Put) - Strike Price of Long Call (or Short Put) - Net Premium Paid - Commissions Paid
Maximum Loss Scenario	Net Premium Paid + Commissions Paid
Risk	Limited	Limited
Reward	Limited	Unlimited

REVERSE IRON CONDOR Vs PUT BACKSPREAD - Strategy Pros & Cons

	REVERSE IRON CONDOR	PUT BACKSPREAD
Similar Strategies	Short Condor
Disadvantage	• Potential loss is higher than gain. • Limited profit.
Advantages	• Able to profit whether stocks move in either direction up or down. • This strategy can be used by option traders who cannot use credit spreads. • Predictable maximum loss and profits.