RELCAPITAL CONDOR STRATEGY

BUY RELCAPITAL 390 CALL @17.8

BUY RELCAPITAL 400 CALL @12.5

BUY RELCAPITAL 410 CALL @ 7.9

BUY RELCAPITAL 420 CALL @ 4.2
Total Investment=2660
Maximum returns possible=12340
 Pay off table:

call option	closing price	profit from I	profit from IV	loss from II	loss from III	gross return	payoff
4.2	375	0	0	0	0	0	-2660
4.2	380	0	0	0	0	0	-2660
4.2	385	0	0	0	0	0	-2660
4.2	390	0	0	0	0	0	-2660
4.2	395	7500	0	0	0	7500	4840
4.2	400	15000	0	0	0	15000	12340
4.2	405	22500	0	7500	0	15000	12340
4.2	410	30000	0	15000	0	15000	12340
4.2	415	37500	0	22500	7500	7500	4840
4.2	420	45000	0	30000	15000	0	-2660
4.2	425	52500	7500	37500	22500	0	-2660
4.2	430	60000	15000	45000	30000	0	-2660
4.2	435	67500	22500	52500	37500	0	-2660
4.2	440	75000	30000	60000	45000	0	-2660
4.2	445	82500	37500	67500	52500	0	-2660