This is a neutral bearish strategy and going to be the bearish exposure in order to collect the premium.
Sell ATM Call and Buy OTM Call = Buy Call + Sell Call
Sell 50 Delta & Buy 25 Delta
Use 45 days To Expiration. The characteristic is 50% higher profit with the negative of R&R.
To collect at least 33% of the vertical width !!! Another advance similar strategy is short strangle in which sell 30 delta Call & sell 15 delta Put.
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