In the last episode of Tastytrade’s Options Crash Course, [we dug into defined-risk strategies.](https://www.tastytrade.com/tt/shows/options-crash-course/episodes/options-crash-course-ep-9-defined-risk-strategies-part-one-09-18-2020 ) Specifically, we looked at both Vertical Spreads and Iron Condors, and we paid special attention to how the directional bias for each is established. Today, we wanted to revisit both of these strategies again, except this time, we’re going to look at how we can balance the risk/return tradeoff with defined-risk strategies.