PROTECTIVE PUT	LONG CALL CONDOR SPREAD
About Strategy	Protective Put Option Strategy Protective Put Strategy is a hedging strategy where trader guards himself from the downside risk. This strategy is adopted when a trader is long on the underlying asset but skeptical of the downside. He will buy one ATM Put Option to hedge his position. Now, if the underlying asset moves either up or down, the trader is in a safe position. Read more..	Long Call Condor Spread Option Strategy  This strategy is implemented when a trader is bearish on the volatility and expects the market to move sideways. Using Call Options of the same expiry date, he will buy one Deep ITM Call Option, sell 1 ITM Call Option, sell 1 OTM Call Option, buy 1 Deep OTM Call Option. The risk and reward both are limited due to offsetting of long and short positions. For t .. Read more..

PROTECTIVE PUT Vs LONG CALL CONDOR SPREAD - Details

	PROTECTIVE PUT	LONG CALL CONDOR SPREAD
Market View	Bullish	Neutral
Type (CE/PE)	PE (Put Option)	CE (Call Option)
Number Of Positions	1	4
Strategy Level	Beginners	Advance
Reward Profile	Unlimited	Limited
Risk Profile	Limited	Limited
Breakeven Point	Purchase Price of Underlying + Premium Paid	Lower Breakeven = Lower Strike Price + Net Premium Upper breakeven = Higher Strike Price - Net Premium

PROTECTIVE PUT Vs LONG CALL CONDOR SPREAD - When & How to use ?

	PROTECTIVE PUT	LONG CALL CONDOR SPREAD
Market View	Bullish	Neutral
When to use?	This strategy is adopted when a trader is long on the underlying asset but skeptical of the downside.	This strategy works well when you expect the price of the underlying asset to be range bound in the coming days.
Action	Buy 1 ATM Put	Buy Deep ITM Call Option, Buy Deep OTM Call Option, Sell ITM Call Option, Sell OTM Call Option
Breakeven Point	Purchase Price of Underlying + Premium Paid	Lower Breakeven = Lower Strike Price + Net Premium Upper breakeven = Higher Strike Price - Net Premium

PROTECTIVE PUT Vs LONG CALL CONDOR SPREAD - Risk & Reward

	PROTECTIVE PUT	LONG CALL CONDOR SPREAD
Maximum Profit Scenario	Price of Underlying - Purchase Price of Underlying - Premium Paid	Strike Price of Lower Strike Short Call - Strike Price of Lower Strike Long Call - Net Premium Paid
Maximum Loss Scenario	Premium Paid + Purchase Price of Underlying - Put Strike + Commissions Paid	Net Premium Paid
Risk	Limited	Limited
Reward	Unlimited	Limited

PROTECTIVE PUT Vs LONG CALL CONDOR SPREAD - Strategy Pros & Cons

	PROTECTIVE PUT	LONG CALL CONDOR SPREAD
Similar Strategies	Long Call, Call Backspread	Long Put Butterfly, Short Call Condor, Short Strangle
Disadvantage	• Value of protective put position decreases as time passes • Holding period of the protective put can be affected by the timing as a result tax rate on the profit or loss from the stock can be affected.	• Amount of profit is comparatively low. • As this strategy has 4 legs so the brokerage cost is higher that will affect your profit.
Advantages	• Unlimited potential profit due to indefinitely rise in the underlying stock price . • This strategy allows you to hold on to your stocks while insuring against losses. • Hedging strategy, trader can guard himself from the downside risk.	• Capable to generate profit even if there is low volatility in the market. • This strategy is associated with limited risk and limited profit. • Wider profit zone.