| Leg | Trade | Option | Lots | Strike |
|---|---|---|---|---|
| L1 | SELL | PUT | 1x | ATM - 4 |
| L2 | BUY | PUT | 1x | ATM |
| L3 | BUY | CALL | 1x | ATM |
| L4 | SELL | CALL | 1x | ATM + 4 |
ATM - 4ATMATM + 409:2015:15| Preset | Entry | Strikes |
|---|
| Preset | Exit | SL | TP | |
|---|---|---|---|---|
| Firebrick | 15:15 | 0 % | 0 % | |
| Firebrick | 15:15 | 20 % | 0 % | |
| Firebrick | 15:15 | 0 % | 20 % | |
| Firebrick | 15:15 | 20 % | 20 % | |
| Firebrick | After 14:30 15:15 | 20 % | 20 % |
Buy an ATM call and put while selling OTM wings to profit from a sharp move in either direction with defined risk.
Outlook : Expecting high volatility; direction uncertain
Profit : Limited to the distance between strikes minus premium paid
Loss : Limited to the net premium paid