In option parlance, a condor is a variation on a butterfly option, in which the two short options (sold options) have different exercise prices.

With respect to futures contracts, a condor is a futures-trading strategy which is constructed by buying near-month delivery contracts, selling later month delivery contracts, selling yet later month delivery contracts, and buying later-month contracts still. In this strategy, neither the delivery months need to be consecutive, nor the gaps between them equal.