I am fairly new to options trading and came up with a possible option strategy (i think) Assuming bearish market conditions, stock is at $100 and do not own shares in this stock. Income received is from net premiums received. What i want to do is to sell a Call at $110 (i.e. 10% above its current market price of $100) and also, for protection, to buy a Call at, say, $108. The $2 spread is so that in the event the stock is in an uptrend and blows pass $110, I do not end up with a naked option position. Its essentially half of iron condor (the Call side). Is there an existing option strategy that does this or do i have to put in 2 separate single trade, one for the sell Call and one for the buy Call?