IRON BUTTERFLY	DIAGONAL BULL CALL SPREAD
About Strategy	Iron Butterfly Option Strategy  This strategy is implemented when a trader is bearish on the volatility of market and neutral on the market movements. A trader will buy 1 OTM Put Option, sell 1 ATM Put Option, sell 1 ATM Call Option, buy 1 OTM Call Option. Due to offsetting of long and short positions, this strategy bags limited profit with 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..

IRON BUTTERFLY Vs DIAGONAL BULL CALL SPREAD - Details

	IRON BUTTERFLY	DIAGONAL BULL CALL SPREAD
Market View	Neutral	Bullish
Type (CE/PE)	CE (Call Option) + 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 Short Call + Net Premium Received, Lower Breakeven Point = Strike Price of Short Put - Net Premium Received

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

	IRON BUTTERFLY	DIAGONAL BULL CALL SPREAD
Market View	Neutral	Bullish
When to use?	This strategy is implemented when a trader is bearish on the volatility of market and neutral on the market movements.
Action	Buy 1 OTM Put, Sell 1 ATM Put, Sell 1 ATM Call, Buy 1 OTM Call	Buy 1 Long-Term ITM Call Sell 1 Near-Term OTM Call
Breakeven Point	Upper Breakeven Point = Strike Price of Short Call + Net Premium Received, Lower Breakeven Point = Strike Price of Short Put - Net Premium Received

IRON BUTTERFLY Vs DIAGONAL BULL CALL SPREAD - Risk & Reward

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

IRON BUTTERFLY Vs DIAGONAL BULL CALL SPREAD - Strategy Pros & Cons

	IRON BUTTERFLY	DIAGONAL BULL CALL SPREAD
Similar Strategies	Long Put Butterfly, Neutral Calendar Spread	Bull Put Spread
Disadvantage	• Large commissions involved. • Probability of losses are higher.
Advantages	• Less amount of capital investment, steady income with low risk. • Traders can predict maximum loss and profit. • Versatile strategy, investors can transform position into bear call spread or bull put spread easily.