IRON CONDORS	SHORT 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..	Short Guts Option Strategy  This strategy is implemented by a trader when he is neutral on the movements and bearish on volatility i.e. he expects the stock to be range bound in the near future. This strategy involves sale of 1 ITM Call Option and 1 ITM Put Option. This strategy can be called as Credit Spread since his account is credited at the time of entering in the positions. < .. Read more..

IRON CONDORS Vs SHORT GUTS - Details

	IRON CONDORS	SHORT 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	Limited
Risk Profile	Limited	Unlimited
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 Received + Strike Price of Short Call, Lower Breakeven Point = Strike Price of Short Put - Net Premium Received

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

	IRON CONDORS	SHORT 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 bearish on volatility i.e. he expects the stock to be range bound in the near future.
Action	Sell 1 OTM Put, Buy 1 OTM Put (Lower Strike), Sell 1 OTM Call, Buy 1 OTM Call (Higher Strike)	Sell 1 ITM Call, Sell 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 Received + Strike Price of Short Call, Lower Breakeven Point = Strike Price of Short Put - Net Premium Received

IRON CONDORS Vs SHORT GUTS - Risk & Reward

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

IRON CONDORS Vs SHORT GUTS - Strategy Pros & Cons

	IRON CONDORS	SHORT GUTS
Similar Strategies	Long Put Butterfly, Neutral Calendar Spread	Short Strangle (Sell Strangle), Short Straddle (Sell Straddle)
Disadvantage	• Full of risk. • Unlimited maximum loss.	• Unlimited potential loss if the underlying stock continues to move in one direction. • High margin required.
Advantages	• Chance to gather double premium. • Sure, maximum gains on one-half the trade. • Flexible and double leverage at half price.	• Ability to profit even when underlying asset stays stagnant. • You are already paid your full profit the moment the position is put on as this is a credit spread position. • Higher chance of ending in full profit as compared to short strangle or short straddle.