Reverse Iron Albatross Spread

Reversing the iron albatross means paying a debit instead of collecting one: buy the closer to the money put and call, then sell a further out put and call beyond each of them, leaving a wide gap between the two long strikes. The trade wants a large move in either direction, and both the maximum gain and the maximum loss are fixed by the strike widths.

Option symbols for all four legs come from your strike and expiry entries, and on demand bid, ask and previous close price each one against the underlying's last trade.