LONG CALL BUTTERFLY	LONG CALL LADDER
About Strategy	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..	Long Call Ladder Option Strategy  Long Call Ladder Strategy is an extension to Bull Call Spread Strategy. A trader will be slightly bullish about the market, in this strategy but bearish over volatility. It involves buying of an ITM Call Option and sale of 1 ATM & 1 OTM Call Options. However, the risk associated with this strategy is unlimited and reward is limited. Read more..

LONG CALL BUTTERFLY Vs LONG CALL LADDER - Details

	LONG CALL BUTTERFLY	LONG CALL LADDER
Market View	Neutral	Neutral
Type (CE/PE)	CE (Call Option)	CE (Call Option)
Number Of Positions	4	3
Strategy Level	Advance	Advance
Reward Profile	Limited	Unlimited
Risk Profile	Limited	Unlimited
Breakeven Point	Upper Breakeven = Higher Strike Price - Net Premium, Lower Breakeven = Lower Strike Price + Net Premium	Upper Breakeven Point = Total Strike Prices of Short Calls - Strike Price of Long Call - Net Premium Paid, Lower Breakeven Point = Strike Price of Long Call + Net Premium Paid

LONG CALL BUTTERFLY Vs LONG CALL LADDER - When & How to use ?

	LONG CALL BUTTERFLY	LONG CALL LADDER
Market View	Neutral	Neutral
When to use?	This strategy should be used when you're expecting no volatility in the price of the underlying.	This Strategy is an extension to Bull Call Spread Strategy. A trader will be slightly bullish about the market, in this strategy but bearish over volatility.
Action	Sell 2 ATM Call, Buy 1 ITM Call, Buy 1 OTM Call	Buy 1 ITM Call, Sell 1 ATM Call, Sell 1 OTM Call
Breakeven Point	Upper Breakeven = Higher Strike Price - Net Premium, Lower Breakeven = Lower Strike Price + Net Premium	Upper Breakeven Point = Total Strike Prices of Short Calls - Strike Price of Long Call - Net Premium Paid, Lower Breakeven Point = Strike Price of Long Call + Net Premium Paid

LONG CALL BUTTERFLY Vs LONG CALL LADDER - Risk & Reward

	LONG CALL BUTTERFLY	LONG CALL LADDER
Maximum Profit Scenario	Adjacent strikes - Net premium debit.	Strike Price of Lower Strike Short Call - Strike Price of Long Call - Net Premium Paid - Commissions Paid
Maximum Loss Scenario	Net Premium Paid	Price of Underlying - Upper Breakeven Price + Commissions Paid
Risk	Limited	Unlimited
Reward	Limited	Unlimited

LONG CALL BUTTERFLY Vs LONG CALL LADDER - Strategy Pros & Cons

	LONG CALL BUTTERFLY	LONG CALL LADDER
Similar Strategies	-	Short Strangle (Sell Strangle), Short Straddle (Sell Straddle)
Disadvantage	• 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.	• Unlimited risk. • Margin required.
Advantages	• 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.	• Reduces capital outlay of bull call spread. • Wider maximum profit zone. • When there is decrease in implied volatility, this strategy can give profit.