This is a screen capture of an order ticket taken on April 09, 2008.

Legs 1 & 2 is called the Bear Call spread and a Bull Put spread for legs 2 & 3.

So, a total of 4 options legs is required. We enter a Limit Sell (receiving credit) for a little above the market value for a better entry and select "all or none" because we need to be sure to get filled the same amount of contracts in each leg.

 

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