LONG CALL BUTTERFLY	SHORT PUT BUTTERFLY
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..	Short Put Butterfly Option Strategy  In Short Put Butterfly strategy, a trader is neutral in nature and expects the market to remain range bound in the near future. A trader will buy 2 ATM Put Options; sell 1 ITM & 1 OTM Put Options. Here risk and returns both are limited. Risk:< .. Read more..

LONG CALL BUTTERFLY Vs SHORT PUT BUTTERFLY - Details

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

LONG CALL BUTTERFLY Vs SHORT PUT BUTTERFLY - When & How to use ?

	LONG CALL BUTTERFLY	SHORT PUT BUTTERFLY
Market View	Neutral	Neutral
When to use?	This strategy should be used when you're expecting no volatility in the price of the underlying.	In Short Put Butterfly strategy, a trader is neutral in nature and expects the market to remain range bound in the near future.
Action	Sell 2 ATM Call, Buy 1 ITM Call, Buy 1 OTM Call	Sell 1 ITM Put, Buy 2 ATM Put, Sell 1 OTM Put
Breakeven Point	Upper Breakeven = Higher Strike Price - Net Premium, Lower Breakeven = Lower Strike Price + Net Premium	Upper Breakeven Point = Strike Price of Highest Strike Short Put - Net Premium Received, Lower Breakeven Point = Strike Price of Lowest Strike Short Put + Net Premium Received

LONG CALL BUTTERFLY Vs SHORT PUT BUTTERFLY - Risk & Reward

	LONG CALL BUTTERFLY	SHORT PUT BUTTERFLY
Maximum Profit Scenario	Adjacent strikes - Net premium debit.	Net Premium Received - Commissions Paid
Maximum Loss Scenario	Net Premium Paid	Strike Price of Higher Strike Short Put - Strike Price of Long Put - Net Premium Received + Commissions Paid
Risk	Limited	Limited
Reward	Limited	Limited

LONG CALL BUTTERFLY Vs SHORT PUT BUTTERFLY - Strategy Pros & Cons

	LONG CALL BUTTERFLY	SHORT PUT BUTTERFLY
Similar Strategies	-	Short Condor, Reverse Iron Condor
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.	• High risk strategy and may cause huge losses if the price of the underlying stocks falls steeply. • Higher profit is only possible when shares get close to expiration.
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.	• Benefits from time decay. • Traders can earn more in a rising or range bound scenario. • Benefits from a surge in volatility.