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Call Condor Spread

Description

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All four legs are calls in one expiration: buy the lowest strike, sell the second, sell the third and buy the highest, producing a flat profit region between the middle strikes instead of the single peak a butterfly gives.

Loss is limited to the net debit because both wings are owned. Each leg is quoted from bid and ask so the debit is realistic, and the payoff grid marks the two breakevens with the plateau between them. Strikes and expiry are inputs, so that plateau can be widened or tightened.

Template Screenshots

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