A complex option trading strategy (cartwheel) in which the position is established by combining a long put backspread and a short call ratio spread. For example, an investor may sell one 50 put and buy two 45 puts (here is the put backspread) and buy one 45 call and sell two 50 calls (that is the short call ratio spread). The outlook of this strategy ranges from the extremely bearish to the slightly bullish. Its risk is unlimited upside, while its maximum potential gain is unlimited at extreme downside.