Expectation : Neutral

Profit When : Stagnant

Risk : Limited

Reward : Limited

Upper Breakeven Pt : Higher Strike Price - Net Debit

Lower Breakeven Pt : Net Debit + Lower Strike Price

Max Profit : Sum of short premium - Sum of long premium

OppiE's Note : Condor spread is a cousin of the Butterfly Spread and can be executed using call options or put options. The wider the strike price of the Nearest ITM and Nearest OTM options, the wider the profitable range of the strategy but the lower the maximum profit.