Condor Spread

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DEFINITION of 'Condor Spread'

Similar to a butterfly spread, a condor is an options strategy that also has a bear and a bull spread, except that the strike prices on the short call and short put are different.

INVESTOPEDIA EXPLAINS 'Condor Spread'

The purpose of this option strategy is to earn limited profits, regardless of market movements, with a small amount of risk.

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