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

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

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

	BULL CALENDER SPREAD	LONG CALL 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.	This strategy should be used when you're expecting no volatility in the price of the underlying.
Action	Sell 1 Near-Term OTM Call, Buy 1 Long-Term OTM Call	Sell 2 ATM Call, Buy 1 ITM Call, Buy 1 OTM Call
Breakeven Point	Stock Price when long call value is equal to net debit.	Upper Breakeven = Higher Strike Price - Net Premium, Lower Breakeven = Lower Strike Price + Net Premium

BULL CALENDER SPREAD Vs LONG CALL BUTTERFLY - Risk & Reward

	BULL CALENDER SPREAD	LONG CALL BUTTERFLY
Maximum Profit Scenario	You have unlimited profit potential to the upside.	Adjacent strikes - Net premium debit.
Maximum Loss Scenario	Max Loss = Premium Paid + Commissions Paid	Net Premium Paid
Risk	Limited	Limited
Reward	Unlimited	Limited

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

	BULL CALENDER SPREAD	LONG CALL BUTTERFLY
Similar Strategies	The Collar, Bull Put Spread	-
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.	• 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	• 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.	• 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.