You Can Collect Premium and Make Consistent Income using Iron Condors
Iron Condors are generally referred to as a neutral strategy but It can also be used directionally by "skewing" the the wings of the condor. The basic concept involves setting up a Bear Call Spread and a Bull Put to establish the iron condor. Theoretically the initial expectation is that the price of the underlying will stay pretty much unchanged and profit is derived from simple time decay.