PROTECTIVE CALL	NEUTRAL CALENDAR SPREAD
About Strategy	Protective Call Option Strategy This strategy is simply the reversal of the Synthetic Call Strategy. This strategy is implemented when a trader is bearish on the market and expects to go down. Trader will short underlying stock in the cash market and buy either an ATM Call Option or OTM Call Option. The Call Option is bought to protect / hedge the upside risk on the short position. The Read more..	Neutral Calendar Spread Option strategy  This strategy is implemented if the trader is neutral in the near future for say 2 months or so. This strategy involves writing of Near Month 1 ATM Call Option and buying 1 Mid Month ATM Call Option, hence reducing the cost of purchase, with the same strike price of the same underlying asset. This strategy is used when the trader wants to make money from the .. Read more..

PROTECTIVE CALL Vs NEUTRAL CALENDAR SPREAD - Details

	PROTECTIVE CALL	NEUTRAL CALENDAR SPREAD
Market View	Bearish	Neutral
Type (CE/PE)	CE (Call Option)	CE (Call Option)
Number Of Positions	1	2
Strategy Level	Beginners	Beginners
Reward Profile	Unlimited	Limited
Risk Profile	Limited	Limited
Breakeven Point	Sale Price of Underlying + Premium Paid	-

PROTECTIVE CALL Vs NEUTRAL CALENDAR SPREAD - When & How to use ?

	PROTECTIVE CALL	NEUTRAL CALENDAR SPREAD
Market View	Bearish	Neutral
When to use?	This strategy is implemented when a trader is bearish on the market and expects to go down.	This strategy is implemented if the trader is neutral in the near future for say 2 months or so. This strategy involves writing of Near Month 1 ATM Call Option and buying 1 Mid Month ATM Call Option.
Action	Buy 1 ATM Call	Sell 1 Near-Term ATM Call, Buy 1 Long-Term ATM Call
Breakeven Point	Sale Price of Underlying + Premium Paid	-

PROTECTIVE CALL Vs NEUTRAL CALENDAR SPREAD - Risk & Reward

	PROTECTIVE CALL	NEUTRAL CALENDAR SPREAD
Maximum Profit Scenario	Sale Price of Underlying - Price of Underlying - Premium Paid	Maximum Profit Limited When underlying stock price remains unchanged on expiration of the near month options.
Maximum Loss Scenario	Premium Paid + Call Strike Price - Sale Price of Underlying + Commissions Paid	It occurs when the stock price goes down and stays down until expiration of the longer term options.
Risk	Limited	Limited
Reward	Unlimited	Limited

PROTECTIVE CALL Vs NEUTRAL CALENDAR SPREAD - Strategy Pros & Cons

	PROTECTIVE CALL	NEUTRAL CALENDAR SPREAD
Similar Strategies	Put Backspread, Long Put	Long Put Butterfly, Iron Butterfly
Disadvantage	• Profitable when market moves as expected. • Not good for beginners.	• Lower profitability • Must have enough experience.
Advantages	• Limited risk if the market moves in opposite direction as expected. • Allows you to keep open a profitable position to make further profits. • Unlimited profit potential.	• Almost zero margin required. • Ability to profit from time decay, limited risk. • This strategy allows you to transform position into long position.