Strategy

Neutral Strategy

By Ryan Silk & Lawrence Polatchek · Reviewed April 2026 · Options Trading Glossary

Profits from range-bound market

What is Neutral Strategy?

Neutral Strategy A strategy that profits when the underlying stays within a range. Examples include iron condors, butterflies, and strangles. Profits from time decay and stable prices.

Complete Definition

A strategy that profits when the underlying stays within a range. Examples include iron condors, butterflies, and strangles. Profits from time decay and stable prices.

Related Terms

Iron Condor Butterfly Spread Theta

Written by

ApexVol Research Team

Quantitative options research

All calculations use live ORATS institutional data — the same source used by professional volatility desks.

Technical reviewer

Ryan Silk, ApexVol Founder

Reviewed for technical accuracy

10+ years trading options. Built ApexVol's pricing engine, Greeks model, and IV-rank methodology.

This guide is updated as market conditions and ORATS data change. Last revised 2026-05-12. How we research →

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