SHORT CALL CONDOR SPREAD	PROTECTIVE PUT
About Strategy	Short Call Condor Spread Option Strategy Short Call Condor Spread is the opposite of Long Call Condor Spread i.e. sell 1 Deep ITM Call Option, buy 1 ITM Call Option, buy 1 OTM Call Option, sell 1 Deep OTM Call Option. Similar to Long Call Condor, the risk and rewards associated with this strategy are limited. Credit is received at the time of entering into this strategy. Read more..	Protective Put Option Strategy Protective Put Strategy is a hedging strategy where trader guards himself from the downside risk. This strategy is adopted when a trader is long on the underlying asset but skeptical of the downside. He will buy one ATM Put Option to hedge his position. Now, if the underlying asset moves either up or down, the trader is in a safe position. Read more..

SHORT CALL CONDOR SPREAD Vs PROTECTIVE PUT - Details

	SHORT CALL CONDOR SPREAD	PROTECTIVE PUT
Market View	Volatile	Bullish
Type (CE/PE)	CE (Call Option)	PE (Put Option)
Number Of Positions	4	1
Strategy Level	Advance	Beginners
Reward Profile	Limited	Unlimited
Risk Profile	Limited	Limited
Breakeven Point	Lower Breakeven = Lower Strike Price + Net Premium, Upper breakeven = Higher Strike Price - Net Premium	Purchase Price of Underlying + Premium Paid

SHORT CALL CONDOR SPREAD Vs PROTECTIVE PUT - When & How to use ?

	SHORT CALL CONDOR SPREAD	PROTECTIVE PUT
Market View	Volatile	Bullish
When to use?	This strategy is used when an investor expect the price of the underlying stock to be very volatile.	This strategy is adopted when a trader is long on the underlying asset but skeptical of the downside.
Action	Buy ITM Call Option + Buy OTM Call Option + Sell Deep OTM Call Option + Sell Deep ITM Call Option	Buy 1 ATM Put
Breakeven Point	Lower Breakeven = Lower Strike Price + Net Premium, Upper breakeven = Higher Strike Price - Net Premium	Purchase Price of Underlying + Premium Paid

SHORT CALL CONDOR SPREAD Vs PROTECTIVE PUT - Risk & Reward

	SHORT CALL CONDOR SPREAD	PROTECTIVE PUT
Maximum Profit Scenario	Strike Price of Lower Strike Short Call - Strike Price of Lower Strike Long Call - Net Premium Paid	Price of Underlying - Purchase Price of Underlying - Premium Paid
Maximum Loss Scenario	Strike Price of Lower Strike Long Call - Strike Price of Lower Strike Short Call - Net Premium Received + Commissions Paid	Premium Paid + Purchase Price of Underlying - Put Strike + Commissions Paid
Risk	Limited	Limited
Reward	Limited	Unlimited

SHORT CALL CONDOR SPREAD Vs PROTECTIVE PUT - Strategy Pros & Cons

	SHORT CALL CONDOR SPREAD	PROTECTIVE PUT
Similar Strategies	Short Strangle	Long Call, Call Backspread
Disadvantage	• Amount of profit is low in comparison with other strategies. • As this strategy has 4 legs so the brokerage cost is higher that will affect your profit.	• Value of protective put position decreases as time passes • Holding period of the protective put can be affected by the timing as a result tax rate on the profit or loss from the stock can be affected.
Advantages	• This strategy allows you to profit from highly volatile underlying assets moving in any direction. • Earn profit with little or no investment. • Wider profit zone.	• Unlimited potential profit due to indefinitely rise in the underlying stock price . • This strategy allows you to hold on to your stocks while insuring against losses. • Hedging strategy, trader can guard himself from the downside risk.