BULL CALENDER SPREAD	SHORT PUT BUTTERFLY
About Strategy	Bull Calendar Spread Option Strategy This strategy is implemented when a trader is bullish on the underlying stock/index in the short term say 2 months or so. A trader will write one Near Month OTM Call Option and buy one next Month OTM Call Option, thereby reducing the cost of purchase, with the same strike price of the same underlying asset. This strategy is used when a trader wants to make prof 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 CALENDER SPREAD Vs SHORT PUT BUTTERFLY - Details

	BULL CALENDER SPREAD	SHORT PUT BUTTERFLY
Market View	Bullish	Neutral
Type (CE/PE)	CE (Call Option) + PE (Put Option)	PE (Put Option)
Number Of Positions	2	4
Strategy Level	Beginners	Advance
Reward Profile	Unlimited	Limited
Risk Profile	Limited	Limited
Breakeven Point	Stock Price when long call value is equal to net debit.	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 CALENDER SPREAD Vs SHORT PUT BUTTERFLY - When & How to use ?

	BULL CALENDER SPREAD	SHORT PUT BUTTERFLY
Market View	Bullish	Neutral
When to use?	This strategy is used when a trader wants to make profit from a steady increase in the stock price over a short period of time.	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 1 Near-Term OTM Call, Buy 1 Long-Term OTM Call	Sell 1 ITM Put, Buy 2 ATM Put, Sell 1 OTM Put
Breakeven Point	Stock Price when long call value is equal to net debit.	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 CALENDER SPREAD Vs SHORT PUT BUTTERFLY - Risk & Reward

	BULL CALENDER SPREAD	SHORT PUT BUTTERFLY
Maximum Profit Scenario	You have unlimited profit potential to the upside.	Net Premium Received - Commissions Paid
Maximum Loss Scenario	Max Loss = Premium Paid + Commissions Paid	Strike Price of Higher Strike Short Put - Strike Price of Long Put - Net Premium Received + Commissions Paid
Risk	Limited	Limited
Reward	Unlimited	Limited

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

	BULL CALENDER SPREAD	SHORT PUT BUTTERFLY
Similar Strategies	The Collar, Bull Put Spread	Short Condor, Reverse Iron Condor
Disadvantage	• Limited profit even if underlying asset rallies. • If the short call options are assigned when the underlying asset rallies then losses can be sustained.	• 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	• Limited losses to the net debit. • Enable trader to book profit even if underlying asset stays stagnant. • If the market trends reverse, cashing in from stock price movement at limited risk.	• Benefits from time decay. • Traders can earn more in a rising or range bound scenario. • Benefits from a surge in volatility.