Formula not working

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I have the follow formula. (See Below)

=IF($Status4 = "Close", [ME BUD]4 * $[ME BUD]$2),IF($Status4<>"Close","Open"

If $Status4 = "Close" the formula returns a value. However, if $Status4 is not equal to "Close" I want the formula to return "Open". I get the following response #UNPARAEABLE The formula does work if I only use the following: =IF($Status4 = "Close", [ME BUD]4 * $[ME BUD]$2) I either get a value or the cell is blank

Any suggestions?

Best Regards,

ds

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