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Long Call Condor
eitherwaysLong Call Condor Strategy is a Volatility strategy. It is opposite to Short Call Condor. It offer lower reward for relatively higher risk
Example:
| Instrument | Qty | Price |
|---|---|---|
| SELL NIFTY 30-Jun-26 22600 CE | 65 | 1507.7 |
| BUY NIFTY 30-Jun-26 24100 CE | 65 | 101.25 |
| BUY NIFTY 30-Jun-26 25600 CE | 65 | 0.75 |
| SELL NIFTY 30-Jun-26 27100 CE | 65 | 0 |
When To Execute?
Long Call Condor is a volatility strategy that expects big move in underlying to make money. In scanario where strike difference between 1st and 2nd strike is not equal to difference between 3rd and 4th strike;it is known as Modified Long Call Condor Strategy
Trade
Sell 1 ITM Call, Buy 1 middle ITM Call, Buy 1 middle OTM Call and Sell 1 deep OTM Call
Advantages
Idle for the stock that is range bound for the long time and is expected to give breakout/ breakdown. It is net credit strategy with defined reward to risk
Disadvantages
Time decay could be beneficial if the stock is near the extremes and can hurt if the stock expires between middle two strike. 2.Higher profit potential comes only near expiration
Maximum Profit
It is the net credit strategy. Maximum Profit arrives if the stock closes above highest call or below the first call
Maximum Loss
Maximum Loss occurs if the stock fails to give any momentum and expires between the two bought calls. Maximum loss is difference between first and second call less net credit received