If / ISNUMBER, instead out output true or false run another formula

[SEASIA]

Good morning

Lets say L17 contains either a C or P.
I need to determine if it is a C with If or isnumber....
If true, do another IF which should determine if E3 <= C3. If so give out OTM, If not, ITM. Er and B3 contains only a number. Depending if L17 contains a C it should do the formula, and then based on the outcome give out "ITM" ir OTM" If L17 doesn't contain a C then it is a P, and then use the formula above abut inverted as E3 >=C3.

So the basic formula is =(E3>=C3,"ITM","OTM"). But do this only if ISNUMBER or IF is true.

I red many posts which says; If cell contains specific text, then return a value. But instead a value in "" it should ru the little formula and then based on the outcome return ""

I'm struggling to add 2 IF statements into one formula. It seems, Excel wants output always as "whatever","whatever". Tried to combine it with , AND &. Any suggestions?

 

[6StringJazzer]

So you want to do this basic formula if and only if L17 contains "C"?

=IF(L17="C",IF(E3>=C3,"ITM","OTM"))

What result do you want if L17 is "P"? (This formula will return FALSE)

I am not following what you mean by "if ISNUMBER or IF is true".

 

[SEASIA]

So you want to do this basic formula if and only if L17 contains "C"?

=IF(L17="C",IF(E3>=C3,"ITM","OTM"))

What result do you want if L17 is "P"? (This formula will return FALSE)

I am not following what you mean by "if ISNUMBER or IF is true".

Yes, if there is no C there is a P. I thought since If formula gives out True and false, false would be automatically P and applies the other formula which is E3>=C3,"ITM","OTM. I hope that makes sense.

Right now I'm trying it this way; =IF(ISNUMBER(SEARCH(Sectors!L4,"P",)IF (E3>=C3),"ITM",), "No")

 

[SEASIA]

Yes, if there is no C there is a P. I thought since If formula gives out True and false, false would be automatically P and applies the other formula which is E3>=C3,"ITM","OTM. I hope that makes sense.

Right now I'm trying it this way; =IF(ISNUMBER(SEARCH(Sectors!L4,"P",)IF (E3>=C3),"ITM",), "No")

The formula you posted looks interesting. =IF(L17="C",IF(E3>=C3,"ITM","OTM"))
How to add the second part in case there is a P instead of a C?

I tried based on your formula to add the second one; =IF(Sectors!L4="C",IF(E3>=C3,"ITM","OTM"))&IF(Sectors!L4="P",IF(E3<=C3,"ITM","OTM"))
the result is FALSEITM. I think instead a & it should be OR, but this doesn't work.

 

[SEASIA]

I edited the formula this way: =IF(Sectors!L4="C","",IF(E3>=C3,"ITM","OTM"))&IF(Sectors!L4="P","",IF(E3<=C3,"ITM","OTM"))

It seems to work. However,
Is something wrong with the formula?

 

[6StringJazzer]

OK I think I understand now after a careful re-read of your original post. Your latest formula will work but has superfluous logic.

=IF(L17="C",IF(E3>=C3,"ITM","OTM"),IF(E3<=C3,"ITM","OTM"))

This formula assumes that L17 must be "C" or "P".

 

[SEASIA]

OK I think I understand now after a careful re-read of your original post. Your latest formula will work but has superfluous logic.

=IF(L17="C",IF(E3>=C3,"ITM","OTM"),IF(E3<=C3,"ITM","OTM"))

This formula assumes that L17 must be "C" or "P".

That's correct. the cell L17 has always a C or P. Nothing else is possible. So I think formula should be correct. Right? At least the outcome is correct.

 

[6StringJazzer]

As I said, your formula gives the correct results, but mine has more compact logic.