LONG CALL BUTTERFLY	BULL CALENDER SPREAD
About Strategy	Long Call Butterfly Option Strategy A trader, who is neutral in nature and believes that there will be very low volatility i.e. expects the market to remain range bound, will implement this strategy. This strategy involves selling of 2 ATM Call Options, buying 1 ITM Call Option & buying 1 OTM Call Option of the same expiry date & same underlying asset. The difference between the strikes sho Read more..	Bull Calendar Spread Option Strategy This strategy is implemented when a trader is bullish on the underlying stock/index in the short term say 2 months or so. A trader will write one Near Month OTM Call Option and buy one next Month OTM Call Option, thereby reducing the cost of purchase, with the same strike price of the same underlying asset. This strategy is used when a trader wants to make prof .. Read more..

LONG CALL BUTTERFLY Vs BULL CALENDER SPREAD - Details

	LONG CALL BUTTERFLY	BULL CALENDER SPREAD
Market View	Neutral	Bullish
Type (CE/PE)	CE (Call Option)	CE (Call Option) + PE (Put Option)
Number Of Positions	4	2
Strategy Level	Advance	Beginners
Reward Profile	Limited	Unlimited
Risk Profile	Limited	Limited
Breakeven Point	Upper Breakeven = Higher Strike Price - Net Premium, Lower Breakeven = Lower Strike Price + Net Premium	Stock Price when long call value is equal to net debit.

LONG CALL BUTTERFLY Vs BULL CALENDER SPREAD - When & How to use ?

	LONG CALL BUTTERFLY	BULL CALENDER SPREAD
Market View	Neutral	Bullish
When to use?	This strategy should be used when you're expecting no volatility in the price of the underlying.	This strategy is used when a trader wants to make profit from a steady increase in the stock price over a short period of time.
Action	Sell 2 ATM Call, Buy 1 ITM Call, Buy 1 OTM Call	Sell 1 Near-Term OTM Call, Buy 1 Long-Term OTM Call
Breakeven Point	Upper Breakeven = Higher Strike Price - Net Premium, Lower Breakeven = Lower Strike Price + Net Premium	Stock Price when long call value is equal to net debit.

LONG CALL BUTTERFLY Vs BULL CALENDER SPREAD - Risk & Reward

	LONG CALL BUTTERFLY	BULL CALENDER SPREAD
Maximum Profit Scenario	Adjacent strikes - Net premium debit.	You have unlimited profit potential to the upside.
Maximum Loss Scenario	Net Premium Paid	Max Loss = Premium Paid + Commissions Paid
Risk	Limited	Limited
Reward	Limited	Unlimited

LONG CALL BUTTERFLY Vs BULL CALENDER SPREAD - Strategy Pros & Cons

	LONG CALL BUTTERFLY	BULL CALENDER SPREAD
Similar Strategies	-	The Collar, Bull Put Spread
Disadvantage	• Due to limited lifespan of call options, you can lose the premium paid. • Limited profit which is bound in a narrow range between the two wing strikes.	• Limited profit even if underlying asset rallies. • If the short call options are assigned when the underlying asset rallies then losses can be sustained.
Advantages	• Under this strategy, a trader can book profit even when there is not volatility in the market. • Limited risks to the net premium paid. • This strategy allows you to gain more profits by investing less and limiting your losses to minimum.	• Limited losses to the net debit. • Enable trader to book profit even if underlying asset stays stagnant. • If the market trends reverse, cashing in from stock price movement at limited risk.