IRON CONDORS	STRAP
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..	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..

IRON CONDORS Vs STRAP - Details

	IRON CONDORS	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 Short Call + Net Premium Received, Lower Breakeven Point = Strike Price of Short Put - Net Premium Received	Strike Price of Calls/Puts + (Net Premium Paid/2)

IRON CONDORS Vs STRAP - When & How to use ?

	IRON CONDORS	STRAP
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 used when the investor is bullish on the stock and expects volatility 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)	Buy 2 ATM Call Option, Buy 1 ATM Put Option
Breakeven Point	Upper Breakeven Point = Strike Price of Short Call + Net Premium Received, Lower Breakeven Point = Strike Price of Short Put - Net Premium Received	Strike Price of Calls/Puts + (Net Premium Paid/2)

IRON CONDORS Vs STRAP - Risk & Reward

	IRON CONDORS	STRAP
Maximum Profit Scenario	Net Premium Received - Commissions Paid	UNLIMITED
Maximum Loss Scenario	Strike Price of Long Call - Strike Price of Short Call - Net Premium Received + Commissions Paid	Net Premium Paid
Risk	Limited	Limited
Reward	Limited	Unlimited

IRON CONDORS Vs STRAP - Strategy Pros & Cons

	IRON CONDORS	STRAP
Similar Strategies	Long Put Butterfly, Neutral Calendar Spread	Strip, Short Put Ladder, Short Call Ladder
Disadvantage	• Full of risk. • Unlimited maximum loss.	• To generate profit, there should be significant change in share price. • Expensive strategy.
Advantages	• Chance to gather double premium. • Sure, maximum gains on one-half the trade. • Flexible and double leverage at half price.	• Limited loss. • If share prices are moving then traders can book unlimited profit. • A trader can still book profit if the underlying falls substantially.