SHORT PUT BUTTERFLY	SHORT CALL CONDOR 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..	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..

SHORT PUT BUTTERFLY Vs SHORT CALL CONDOR SPREAD - Details

	SHORT PUT BUTTERFLY	SHORT CALL CONDOR SPREAD
Market View	Neutral	Volatile
Type (CE/PE)	PE (Put Option)	CE (Call Option)
Number Of Positions	4	4
Strategy Level	Advance	Advance
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	Lower Breakeven = Lower Strike Price + Net Premium, Upper breakeven = Higher Strike Price - Net Premium

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

	SHORT PUT BUTTERFLY	SHORT CALL CONDOR SPREAD
Market View	Neutral	Volatile
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.	This strategy is used when an investor expect the price of the underlying stock to be very volatile.
Action	Sell 1 ITM Put, Buy 2 ATM Put, Sell 1 OTM Put	Buy ITM Call Option + Buy OTM Call Option + Sell Deep OTM Call Option + Sell Deep ITM Call Option
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	Lower Breakeven = Lower Strike Price + Net Premium, Upper breakeven = Higher Strike Price - Net Premium

SHORT PUT BUTTERFLY Vs SHORT CALL CONDOR SPREAD - Risk & Reward

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

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

	SHORT PUT BUTTERFLY	SHORT CALL CONDOR SPREAD
Similar Strategies	Short Condor, Reverse Iron Condor	Short Strangle
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.	• 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.
Advantages	• Benefits from time decay. • Traders can earn more in a rising or range bound scenario. • Benefits from a surge in volatility.	• 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.