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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (9440)	2/5/2006 9:13:46 AM
From: Patrick Slevin	Read Replies (1) \| Respond to of 12411

Both are briefly discussed in the book. He says the condor can be constructed by splitting the inside exercise prices. So the position of four options at consecutive exercise prices where the two inside are purchased and the outside sold (Short condor) or two outside purchased and two inside sold (Long condor). I recall these from many conversations with my options friend. A condor is a variation of a volatility spread. Strangles, straddles, Christmas Trees, Ratio Vertical,.....all depend on being about Delta Neutral. As I recall there is a fair degree of math involved. Been a long time since I did it by getting into the complexity it requires. I think the last time was 1992. I recall the date because I did it while studying for my Series 7. I hope you don't get me interested in starting that up again, life has become rather simple around here.........