BULL CALL SPREAD	LONG CALL 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..	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 CALL SPREAD Vs LONG CALL BUTTERFLY - Details

	BULL CALL SPREAD	LONG CALL BUTTERFLY
Market View	Bullish	Neutral
Type (CE/PE)	CE (Call Option)	CE (Call 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 = Higher Strike Price - Net Premium, Lower Breakeven = Lower Strike Price + Net Premium

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

	BULL CALL SPREAD	LONG CALL 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.	This strategy should be used when you're expecting no volatility in the price of the underlying.
Action	Buy ITM Call Option, Sell OTM Call Option	Sell 2 ATM Call, Buy 1 ITM Call, Buy 1 OTM Call
Breakeven Point	Strike price of purchased call + net premium paid	Upper Breakeven = Higher Strike Price - Net Premium, Lower Breakeven = Lower Strike Price + Net Premium

BULL CALL SPREAD Vs LONG CALL BUTTERFLY - Risk & Reward

	BULL CALL SPREAD	LONG CALL BUTTERFLY
Maximum Profit Scenario	(Strike Price of Call 1 - Strike Price of Call 2) - Net Premium Paid	Adjacent strikes - Net premium debit.
Maximum Loss Scenario	Net Premium Paid	Net Premium Paid
Risk	Limited	Limited
Reward	Limited	Limited

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

	BULL CALL SPREAD	LONG CALL BUTTERFLY
Similar Strategies	Collar	-
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.	• 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.
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.	• 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.