 Welcome to the advanced option strategies module course on iron condors We've reached the advanced option strategies in general the strategies in this module Involve three or perhaps even four options at a time most traders will take at least 9 to 12 months before they can get to these kinds of strategies So what is very important is that you need to understand the dynamics of first of all the foundation strategies Which is the four simple basic options and once you've mastered that you have to master spreads You probably would want to be in spreads for a cup for a few months and get comfortable Exactly with how spreads work then you come into the advanced option strategies module the strategies in this module Generally involve a combination of Two or more of the spread modules itself except for calendars. We'll see that the calendars are slightly different But for example the iron condor, which is one of the most popular strategies of options traders Involves two out of the money credit spreads. So the iron condor is what we call a non directional strategy So which means this strategy can go either way it can be bullish or bearish or rather The stock can go bullish or bearish. It doesn't matter The iron condor is constructed with a bear call spread and a bull put spread Each one of these spreads are an out-of-the-money credit spread So if for example, Apple is trading at $600 you could construct a bear call spread at 650 and you could construct a bull put spread at 550 one spread is $50 above Where Apple's trading and the other spread is $50 below and the goal is you're giving yourself a hundred dollar range