LONG CALL BUTTERFLY	NEUTRAL CALENDAR 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..	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..

LONG CALL BUTTERFLY Vs NEUTRAL CALENDAR SPREAD - Details

	LONG CALL BUTTERFLY	NEUTRAL CALENDAR SPREAD
Market View	Neutral	Neutral
Type (CE/PE)	CE (Call Option)	CE (Call Option)
Number Of Positions	4	2
Strategy Level	Advance	Beginners
Reward Profile	Limited	Limited
Risk Profile	Limited	Limited
Breakeven Point	Upper Breakeven = Higher Strike Price - Net Premium, Lower Breakeven = Lower Strike Price + Net Premium	-

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

	LONG CALL BUTTERFLY	NEUTRAL CALENDAR SPREAD
Market View	Neutral	Neutral
When to use?	This strategy should be used when you're expecting no volatility in the price of the underlying.	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	Sell 2 ATM Call, Buy 1 ITM Call, Buy 1 OTM Call	Sell 1 Near-Term ATM Call, Buy 1 Long-Term ATM Call
Breakeven Point	Upper Breakeven = Higher Strike Price - Net Premium, Lower Breakeven = Lower Strike Price + Net Premium	-

LONG CALL BUTTERFLY Vs NEUTRAL CALENDAR SPREAD - Risk & Reward

	LONG CALL BUTTERFLY	NEUTRAL CALENDAR SPREAD
Maximum Profit Scenario	Adjacent strikes - Net premium debit.	Maximum Profit Limited When underlying stock price remains unchanged on expiration of the near month options.
Maximum Loss Scenario	Net Premium Paid	It occurs when the stock price goes down and stays down until expiration of the longer term options.
Risk	Limited	Limited
Reward	Limited	Limited

LONG CALL BUTTERFLY Vs NEUTRAL CALENDAR SPREAD - Strategy Pros & Cons

	LONG CALL BUTTERFLY	NEUTRAL CALENDAR SPREAD
Similar Strategies	-	Long Put Butterfly, Iron Butterfly
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.	• Lower profitability • Must have enough experience.
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.	• Almost zero margin required. • Ability to profit from time decay, limited risk. • This strategy allows you to transform position into long position.