SHORT CALL CONDOR SPREAD	SHORT CALL BUTTERFLY
About Strategy	Short Call Condor Spread Option Strategy Short Call Condor Spread is the opposite of Long Call Condor Spread i.e. sell 1 Deep ITM Call Option, buy 1 ITM Call Option, buy 1 OTM Call Option, sell 1 Deep OTM Call Option. Similar to Long Call Condor, the risk and rewards associated with this strategy are limited. Credit is received at the time of entering into this strategy. Read more..	Short Call Butterfly Option Strategy This strategy is opposite of the Long Call Butterfly Strategy, a trader expects the market to remain range bound in Long Call Butterfly, but here he expects the market to move beyond strike boundaries in Short Call Butterfly. If the trader is bullish on the market’s volatility, he will implement this strategy. Here also there should be equal distance between the .. Read more..

SHORT CALL CONDOR SPREAD Vs SHORT CALL BUTTERFLY - Details

	SHORT CALL CONDOR SPREAD	SHORT CALL BUTTERFLY
Market View	Volatile	Neutral
Type (CE/PE)	CE (Call Option)	CE (Call Option)
Number Of Positions	4	4
Strategy Level	Advance	Advance
Reward Profile	Limited	Limited
Risk Profile	Limited	Limited
Breakeven Point	Lower Breakeven = Lower Strike Price + Net Premium, Upper breakeven = Higher Strike Price - Net Premium	Lower Break-even = Lower Strike Price + Net Premium, Upper Break-even = Higher Strike Price - Net Premium

SHORT CALL CONDOR SPREAD Vs SHORT CALL BUTTERFLY - When & How to use ?

	SHORT CALL CONDOR SPREAD	SHORT CALL BUTTERFLY
Market View	Volatile	Neutral
When to use?	This strategy is used when an investor expect the price of the underlying stock to be very volatile.	This strategy is meant for special scenarios where you foresee a lot of volatility in the market due to election results, budget, policy change, annual result announcements etc.
Action	Buy ITM Call Option + Buy OTM Call Option + Sell Deep OTM Call Option + Sell Deep ITM Call Option	Buy 2 ATM Call, Sell 1 ITM Call, Sell 1 OTM Call
Breakeven Point	Lower Breakeven = Lower Strike Price + Net Premium, Upper breakeven = Higher Strike Price - Net Premium	Lower Break-even = Lower Strike Price + Net Premium, Upper Break-even = Higher Strike Price - Net Premium

SHORT CALL CONDOR SPREAD Vs SHORT CALL BUTTERFLY - Risk & Reward

	SHORT CALL CONDOR SPREAD	SHORT CALL BUTTERFLY
Maximum Profit Scenario	Strike Price of Lower Strike Short Call - Strike Price of Lower Strike Long Call - Net Premium Paid	The profit is limited to the net premium received.
Maximum Loss Scenario	Strike Price of Lower Strike Long Call - Strike Price of Lower Strike Short Call - Net Premium Received + Commissions Paid	Higher strike price- Lower Strike Price - Net Premium
Risk	Limited	Limited
Reward	Limited	Limited

SHORT CALL CONDOR SPREAD Vs SHORT CALL BUTTERFLY - Strategy Pros & Cons

	SHORT CALL CONDOR SPREAD	SHORT CALL BUTTERFLY
Similar Strategies	Short Strangle	Long Straddle, Long Call Butterfly
Disadvantage	• Amount of profit is low in comparison with other strategies. • As this strategy has 4 legs so the brokerage cost is higher that will affect your profit.	• Limited rewards, usually offer smaller return. • Profitability depends on the significant movement of stocks and options prices.
Advantages	• This strategy allows you to profit from highly volatile underlying assets moving in any direction. • Earn profit with little or no investment. • Wider profit zone.	• Even if the market is highly volatile, the risk exposure remains limited. • Without any extra investment, you can receive your premium. • Able to book profits even when the price movement cannot be predicted.