Long Iron Condor Option Screener

[Directional, Limited Risk, Limited Reward] The long iron condor strategy is a high volatility option strategy where you expect the underlying security to move in either direction. The long iron condor option strategy involves selling a put option, buying a put option at a higher strike price, buying a call option at a higher strike price, and selling a call option at a higher strike price, where the middle strikes straddle the underlying price. The long iron condor is a combination of a bear put and a bull call spread. Maximum loss is the difference between the premium paid for the long put and long call minus the premium received for the short put and short call (Net Debit). Maximum profit is the difference between the outer and next strike values minus the Net Debit. The long iron condor strategy succeeds if the underlying security breaks through the range, trading below the lower downside breakeven (lower middle strike - Net Debit) or above the upside breakeven (upper middle strike + Net Debit) at expiration. Maximum profit is achieved if the underlying security is outside either of the outer strike prices at expiration.