Condor Selling


The condor is basically a combination of a bull call spread and a bear call spread.


Essentially, options with consecutive strike prices, buying options with a lower exercise price, and options with higher exercise price. The condor is generally created using the same numbers of short and long calls (or puts).


You will nee to have a total of 4 kegs to construct a condor options strategy and you will need a net debit to put on the position.


This is what a basic Condor looks like


Sell 1 In The Money (ITM) Call

Buy 1 In The Money (ITM) Call ( do this one at a Lower Strike)

Sell 1 Out The Money ( OTM) Call

Buy 1 Out The Money (OTM) Call (do this one at a Higher Strike)


The main characteristics of the Condor is that it has limited risk and limited upside.


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