Backspread
Definition:

Also known as "ratio spread".
May be Bullish or Bearish Depending on Type of Option and Level of Credit (if any).
Sell In-the-Money, At-the-Money, or Out-of-the-Money Call or Put. Buy the Same Type of Option. Buy Multiple number of Farther Out-of-the-Money Options of the Same Type, Preferably for a Net Credit.

Strategy Type:Bullish or Bearish
Risk:Limited
Gain:Limited
Time Decay Effect:Negative
Increasing IV Effect:Positive
Profit/Loss by Change in Underlying Common Price

  backspread