REVERSE IRON CONDOR	STRAP
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..	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..

REVERSE IRON CONDOR Vs STRAP - Details

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

REVERSE IRON CONDOR Vs STRAP - When & How to use ?

	REVERSE IRON CONDOR	STRAP
Market View	Neutral	Neutral
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	This strategy is used when the investor is bullish on the stock and expects volatility in the near future.
Action	Buy 1 OTM Put, Sell 1 OTM Put (Lower Strike), Buy 1 OTM Call, Sell 1 OTM Call (Higher Strike)	Buy 2 ATM Call Option, Buy 1 ATM Put Option
Breakeven Point	Upper Breakeven Point = Strike Price of Long Call + Net Premium Paid, Lower Breakeven Point = Strike Price of Long Put - Net Premium Paid	Strike Price of Calls/Puts + (Net Premium Paid/2)

REVERSE IRON CONDOR Vs STRAP - Risk & Reward

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

REVERSE IRON CONDOR Vs STRAP - Strategy Pros & Cons

	REVERSE IRON CONDOR	STRAP
Similar Strategies	Short Condor	Strip, Short Put Ladder, Short Call Ladder
Disadvantage	• Potential loss is higher than gain. • Limited profit.	• To generate profit, there should be significant change in share price. • Expensive strategy.
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.	• Limited loss. • If share prices are moving then traders can book unlimited profit. • A trader can still book profit if the underlying falls substantially.