Long Iron condor

• When? - When we expect the moment will trending above or below predicted levels and expired outside of the buy option strike.
• Strategy? - Buy a Call option and Put option of the predicted level strike. Short lower strike Put Option and short higher Strike Call Option.
• Advantages? - Helps to reduce losses instead of unlimited Profit in 'Long Strangle'.
• Disadvantages? - Loss when the market is stuck.
• Max Profit? - Leg difference - Net premium
• Max Loss? - Net premium
• Break-even point? - Lower = Lower PE Strike + (PE Leg Diff. + Net Prem.); Upper = Higher CE Strike - (CE Leg Diff. + Net Prem.)