BULL CALL SPREAD	SHORT PUT BUTTERFLY
About Strategy	Bull Call Spread Option Strategy Bull Call Spread option trading strategy is used by a trader who is bullish in nature and expects the underlying asset to give decent returns in the near future. This strategy includes buying of an ‘In The Money’ Call Option and selling of ‘Deep Out Of the Money’ Call Option of the same underlying asset and the same expiration date. 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..

BULL CALL SPREAD Vs SHORT PUT BUTTERFLY - Details

	BULL CALL SPREAD	SHORT PUT BUTTERFLY
Market View	Bullish	Neutral
Type (CE/PE)	CE (Call Option)	PE (Put Option)
Number Of Positions	2	4
Strategy Level	Beginners	Advance
Reward Profile	Limited	Limited
Risk Profile	Limited	Limited
Breakeven Point	Strike price of purchased call + net premium paid	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

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

	BULL CALL SPREAD	SHORT PUT BUTTERFLY
Market View	Bullish	Neutral
When to use?	This strategy is used when an investor is Bullish in the market but expect the underlying to gain mildly in near future.	In Short Put Butterfly strategy, a trader is neutral in nature and expects the market to remain range bound in the near future.
Action	Buy ITM Call Option, Sell OTM Call Option	Sell 1 ITM Put, Buy 2 ATM Put, Sell 1 OTM Put
Breakeven Point	Strike price of purchased call + net premium paid	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

BULL CALL SPREAD Vs SHORT PUT BUTTERFLY - Risk & Reward

	BULL CALL SPREAD	SHORT PUT BUTTERFLY
Maximum Profit Scenario	(Strike Price of Call 1 - Strike Price of Call 2) - Net Premium Paid	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

BULL CALL SPREAD Vs SHORT PUT BUTTERFLY - Strategy Pros & Cons

	BULL CALL SPREAD	SHORT PUT BUTTERFLY
Similar Strategies	Collar	Short Condor, Reverse Iron Condor
Disadvantage	• Limited profit potential to the higher strike call sold if the underlying stock price rises. • Maximum profit only if stock rises to the higher of 2 strike prices selected.	• 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	• Allows you to reduce risk and cost of your investment. • When placing the spread, exit strategy is pre-determined in advance. • Risk is limited to the net premium paid.	• Benefits from time decay. • Traders can earn more in a rising or range bound scenario. • Benefits from a surge in volatility.