SHORT PUT BUTTERFLY	DIAGONAL BULL CALL SPREAD
About Strategy	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..	Diagonal Bull Call Spread Option Strategy This strategy is implemented by a trader when he is neutral – moderately bullish in the near-month contract and bullish in the mid-month contract. It involves sale of 1 Near-Month OTM Call Option and buying of 1 Mid Month ITM Call Option. Risk: Read more..

SHORT PUT BUTTERFLY Vs DIAGONAL BULL CALL SPREAD - Details

	SHORT PUT BUTTERFLY	DIAGONAL BULL CALL SPREAD
Market View	Neutral	Bullish
Type (CE/PE)	PE (Put Option)	CE (Call Option)
Number Of Positions	4	2
Strategy Level	Advance	Beginners
Reward Profile	Limited	Limited
Risk Profile	Limited	Limited
Breakeven Point	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

SHORT PUT BUTTERFLY Vs DIAGONAL BULL CALL SPREAD - When & How to use ?

	SHORT PUT BUTTERFLY	DIAGONAL BULL CALL SPREAD
Market View	Neutral	Bullish
When to use?	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 ITM Put, Buy 2 ATM Put, Sell 1 OTM Put	Buy 1 Long-Term ITM Call Sell 1 Near-Term OTM Call
Breakeven Point	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

SHORT PUT BUTTERFLY Vs DIAGONAL BULL CALL SPREAD - Risk & Reward

	SHORT PUT BUTTERFLY	DIAGONAL BULL CALL SPREAD
Maximum Profit Scenario	Net Premium Received - Commissions Paid
Maximum Loss Scenario	Strike Price of Higher Strike Short Put - Strike Price of Long Put - Net Premium Received + Commissions Paid
Risk	Limited	Limited
Reward	Limited	Limited

SHORT PUT BUTTERFLY Vs DIAGONAL BULL CALL SPREAD - Strategy Pros & Cons

	SHORT PUT BUTTERFLY	DIAGONAL BULL CALL SPREAD
Similar Strategies	Short Condor, Reverse Iron Condor	Bull Put Spread
Disadvantage	• 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	• Benefits from time decay. • Traders can earn more in a rising or range bound scenario. • Benefits from a surge in volatility.