The long put condor spread has a trading setup of buying 1 itm put, selling 1 atm or lesser itm put, selling 1 atm or slightly otm put, and buying 1 otm put. This is a net debit and essentially two long put spreads stacked vertically to each other.
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Option Contracts
Long Put
Short Put
Short Put
Long Put
Equity - Long
100 shares
Estimated Returns
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