IRON BUTTERFLY	LONG CALL CONDOR SPREAD
About Strategy	Iron Butterfly Option Strategy  This strategy is implemented when a trader is bearish on the volatility of market and neutral on the market movements. A trader will buy 1 OTM Put Option, sell 1 ATM Put Option, sell 1 ATM Call Option, buy 1 OTM Call Option. Due to offsetting of long and short positions, this strategy bags limited profit with limited risk. Read more..	Long Call Condor Spread Option Strategy  This strategy is implemented when a trader is bearish on the volatility and expects the market to move sideways. Using Call Options of the same expiry date, he will buy one Deep ITM Call Option, sell 1 ITM Call Option, sell 1 OTM Call Option, buy 1 Deep OTM Call Option. The risk and reward both are limited due to offsetting of long and short positions. For t .. Read more..

IRON BUTTERFLY Vs LONG CALL CONDOR SPREAD - Details

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

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

	IRON BUTTERFLY	LONG CALL CONDOR SPREAD
Market View	Neutral	Neutral
When to use?	This strategy is implemented when a trader is bearish on the volatility of market and neutral on the market movements.	This strategy works well when you expect the price of the underlying asset to be range bound in the coming days.
Action	Buy 1 OTM Put, Sell 1 ATM Put, Sell 1 ATM Call, Buy 1 OTM Call	Buy Deep ITM Call Option, Buy Deep OTM Call Option, Sell ITM Call Option, Sell OTM Call Option
Breakeven Point	Upper Breakeven Point = Strike Price of Short Call + Net Premium Received, Lower Breakeven Point = Strike Price of Short Put - Net Premium Received	Lower Breakeven = Lower Strike Price + Net Premium Upper breakeven = Higher Strike Price - Net Premium

IRON BUTTERFLY Vs LONG CALL CONDOR SPREAD - Risk & Reward

	IRON BUTTERFLY	LONG CALL CONDOR SPREAD
Maximum Profit Scenario	Net Premium Received - Commissions Paid	Strike Price of Lower Strike Short Call - Strike Price of Lower Strike Long Call - Net Premium Paid
Maximum Loss Scenario	Strike Price of Long Call - Strike Price of Short Call - Net Premium Received + Commissions Paid	Net Premium Paid
Risk	Limited	Limited
Reward	Limited	Limited

IRON BUTTERFLY Vs LONG CALL CONDOR SPREAD - Strategy Pros & Cons

	IRON BUTTERFLY	LONG CALL CONDOR SPREAD
Similar Strategies	Long Put Butterfly, Neutral Calendar Spread	Long Put Butterfly, Short Call Condor, Short Strangle
Disadvantage	• Large commissions involved. • Probability of losses are higher.	• Amount of profit is comparatively low. • As this strategy has 4 legs so the brokerage cost is higher that will affect your profit.
Advantages	• Less amount of capital investment, steady income with low risk. • Traders can predict maximum loss and profit. • Versatile strategy, investors can transform position into bear call spread or bull put spread easily.	• Capable to generate profit even if there is low volatility in the market. • This strategy is associated with limited risk and limited profit. • Wider profit zone.