Options Strategy: Iron Condor Iron Condor Spread Defined: Combine a Bearish Vertical Credit Spread and a Bullish Vertical Credit Spread on the same underlying security. By doing this, an investor will potentially be able to double the credit obtained over a single spread position. Since there are two spreads involved in the strategy (four options), there is an upper break even and a lower break even. A profit is made if the stock remains above the lower break even point or below the upper break even point. http://www.daytradeteam.com/dtt/iron-condor-options-trading.asp
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