How to do multiple conditions in one formula; and/or use a string as a condition? I’m trying to make a formula that does different things under different conditions in different cells. What I have is:

IF(BM16=−1,1,"O") 


This produces the letter ‘O’ for open in my case.

What I want is the above plus if BK16 is >0 and/or if BM16 is greater than >-1 then the cell will produce a blank. Can this all be done in one formula?

Another way, and possibly better, to do this in my sheet would be IF(BM16=−1,1,"O") plus check for a string generated in an adjacent cell by a different conditional: resulting in the above formula plus IF ‘string’ in a specified cell = X OTM, then generate a blank cell.
Replace the "0" by the second formula

=IF(BM16=−1,1,if(BK16&gt;0, "", if(BM16 &gt; -1 , "", "O"))) 


anything after = is a formula and can be used where you want a value