Iron Condor vs. Double Calendar

Any one that knows me knows that I do not like the iron condor. (selling a call spread and selling a put spread)This in essence locks in a range bound underlying. You collect more premium than is paid out and the options expire worthless. All in theory. If the stock runs up or down you only are at risk for the spread difference of the strike prices. So you are limiting your exposure.

My apologies up front here folks to the wholesale traders. As retail traders, these are written up to excite us. But after the 4 commissions and the 4 bid/ask spreads, in order to make any money the condor has to be very tight and not allow you any range bound limits. The reason for this is a stock that is range bound will not have high premiums, therefore defeating the whole process (In my humble opinion) Take for example GE. Try doing an iron condor on that one. It fits the parameters for an iron condor.

Now a double calendar is a fancy phrase for a short strangle and a long strangle farther out in the months. The idea behind this is that you buy farther out months a strangle then sell the shorter months a strangle in essence a call calendar and a put calendar. This way you take a stock that IS range bound and can collect a few months premiums to make this work. However you have so many bid/ask spreads to make up and 4 commissions that there are better ways. Maybe the floor it works, but for me as a retail trader it is difficult to make it work.

Any comments opposing this are welcome, maybe there is a reason and a time for these but it seems to me a way for someone to sound smart about options. I certainly do not have all the answers and someone could enlighten me.