SHORT CALL CONDOR SPREAD	IRON BUTTERFLY
About Strategy	Short Call Condor Spread Option Strategy Short Call Condor Spread is the opposite of Long Call Condor Spread i.e. sell 1 Deep ITM Call Option, buy 1 ITM Call Option, buy 1 OTM Call Option, sell 1 Deep OTM Call Option. Similar to Long Call Condor, the risk and rewards associated with this strategy are limited. Credit is received at the time of entering into this strategy. Read more..	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..

SHORT CALL CONDOR SPREAD Vs IRON BUTTERFLY - Details

	SHORT CALL CONDOR SPREAD	IRON BUTTERFLY
Market View	Volatile	Neutral
Type (CE/PE)	CE (Call Option)	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	Lower Breakeven = Lower Strike Price + Net Premium, Upper breakeven = Higher Strike Price - Net Premium	Upper Breakeven Point = Strike Price of Short Call + Net Premium Received, Lower Breakeven Point = Strike Price of Short Put - Net Premium Received

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

	SHORT CALL CONDOR SPREAD	IRON BUTTERFLY
Market View	Volatile	Neutral
When to use?	This strategy is used when an investor expect the price of the underlying stock to be very volatile.	This strategy is implemented when a trader is bearish on the volatility of market and neutral on the market movements.
Action	Buy ITM Call Option + Buy OTM Call Option + Sell Deep OTM Call Option + Sell Deep ITM Call Option	Buy 1 OTM Put, Sell 1 ATM Put, Sell 1 ATM Call, Buy 1 OTM Call
Breakeven Point	Lower Breakeven = Lower Strike Price + Net Premium, Upper breakeven = Higher Strike Price - Net Premium	Upper Breakeven Point = Strike Price of Short Call + Net Premium Received, Lower Breakeven Point = Strike Price of Short Put - Net Premium Received

SHORT CALL CONDOR SPREAD Vs IRON BUTTERFLY - Risk & Reward

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

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

	SHORT CALL CONDOR SPREAD	IRON BUTTERFLY
Similar Strategies	Short Strangle	Long Put Butterfly, Neutral Calendar Spread
Disadvantage	• Amount of profit is low in comparison with other strategies. • As this strategy has 4 legs so the brokerage cost is higher that will affect your profit.	• Large commissions involved. • Probability of losses are higher.
Advantages	• This strategy allows you to profit from highly volatile underlying assets moving in any direction. • Earn profit with little or no investment. • Wider profit zone.	• 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.