COVERED COMBINATION	LONG CALL CONDOR SPREAD
About Strategy	Covered Combination Option Strategy This strategy involves selling OTM Call & Put Options and buying the underlying asset in either cash or futures market. It is also known as Covered Strangle as the profits are capped and risk is potentially unlimited. Risk: Un 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..

COVERED COMBINATION Vs LONG CALL CONDOR SPREAD - Details

	COVERED COMBINATION	LONG CALL CONDOR SPREAD
Market View	Bullish	Neutral
Type (CE/PE)	CE (Call Option) + PE (Put Option)	CE (Call Option)
Number Of Positions	2	4
Strategy Level	Advance	Advance
Reward Profile	Limited	Limited
Risk Profile	Unlimited	Limited
Breakeven Point	(Purchase Price of Underlying + Strike Price of Short Put - Net Premium Received) / 2	Lower Breakeven = Lower Strike Price + Net Premium Upper breakeven = Higher Strike Price - Net Premium

COVERED COMBINATION Vs LONG CALL CONDOR SPREAD - When & How to use ?

	COVERED COMBINATION	LONG CALL CONDOR SPREAD
Market View	Bullish	Neutral
When to use?	This strategy is mainly suited for investors who are moderately bullish on a stock and are comfortable with increasing their position in the event of a price decline.	This strategy works well when you expect the price of the underlying asset to be range bound in the coming days.
Action	Sell 1 OTM Call, Sell 1 OTM 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 + Strike Price of Short Put - Net Premium Received) / 2	Lower Breakeven = Lower Strike Price + Net Premium Upper breakeven = Higher Strike Price - Net Premium

COVERED COMBINATION Vs LONG CALL CONDOR SPREAD - Risk & Reward

	COVERED COMBINATION	LONG CALL CONDOR SPREAD
Maximum Profit Scenario	Strike Price of Short Call - Purchase Price of Underlying + Net Premium Received - Commissions Paid	Strike Price of Lower Strike Short Call - Strike Price of Lower Strike Long Call - Net Premium Paid
Maximum Loss Scenario	Purchase Price of Underlying + Strike Price of Short Put - (2 x Price of Underlying) - Max Profit + Commissions Paid	Net Premium Paid
Risk	Unlimited	Limited
Reward	Limited	Limited

COVERED COMBINATION Vs LONG CALL CONDOR SPREAD - Strategy Pros & Cons

	COVERED COMBINATION	LONG CALL CONDOR SPREAD
Similar Strategies	Stock Repair Strategy	Long Put Butterfly, Short Call Condor, Short Strangle
Disadvantage	Combinations can be profitable in sideways or rising markets. Greater combined net credit increases downside protection and potential return.	• Amount of profit is comparatively low. • As this strategy has 4 legs so the brokerage cost is higher that will affect your profit.
Advantages	Limited Maximum Profit on the upside. Covered Combinations should only be traded on stocks that are bullish.	• 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.