An advanced neutral option trading strategy which constitutes a long condor spread with a much wider difference in strike prices. The long wings added to a condor are created, so to speak, by expanding the span of the short legs. This spread is designed to be profitable for investors who anticipate stagnant stock prices or meager trading activity within a set price range, over a specific interval. The albatross spread features the widest strike difference in comparison with its other two cousin strategies: the condor spread and the butterfly spread, with the latter having the shortest strike difference among the three strategies.

Because of the wide range of strike prices used in creating this spread, it is especially appropriate for underlying stocks whose prices exceed $100.