LONG PUT BUTTERFLY	BULL PUT SPREAD
About Strategy	Long Put Butterfly Option Strategy  The Long Put Butterfly is a neutral strategy where a trader will be bearish on the volatility i.e. he thinks the market will have sideways kind of movement and will not rally sharply in either direction in the near future. This strategy involves sale of 2 ATM Put Options, buy 1 ITM and 1 OTM Put Option. The risk and reward are limited. Read more..	Bull Put Spread Option Strategy Bull Put Spread option trading strategy is used by a trader who is bullish in nature and expects the underlying asset to move in an upward trend in the near future. This strategy includes buying of an ‘Out of the Money’ Put Option and selling of ‘In the Money’ Put Option of the same underlying asset and the same expiration date. When you write a Put, you will receive prem .. Read more..

LONG PUT BUTTERFLY Vs BULL PUT SPREAD - Details

	LONG PUT BUTTERFLY	BULL PUT SPREAD
Market View	Neutral	Bullish
Type (CE/PE)	PE (Put Option)	PE (Put Option)
Number Of Positions	4	2
Strategy Level	Advance	Advance
Reward Profile	Limited	Limited
Risk Profile	Limited	Limited
Breakeven Point	Upper Breakeven Point = Strike Price of Highest Strike Long Put - Net Premium Paid, Lower Breakeven Point = Strike Price of Lowest Strike Long Put + Net Premium Paid	Strike price of short put - net premium paid

LONG PUT BUTTERFLY Vs BULL PUT SPREAD - When & How to use ?

	LONG PUT BUTTERFLY	BULL PUT SPREAD
Market View	Neutral	Bullish
When to use?	The Long Put Butterfly is a neutral strategy where a trader will be bearish on the volatility i.e. he thinks the market will have sideways kind of movement and will not rally sharply in either direction in the near future.	Bull Put Spread strategy is used when you're of the view that the price of a particular underlying will rise, move sideways, or marginally fall.
Action	Buy 1 OTM Put, Sell 2 ATM Puts, Buy 1 ITM Put	Buy OTM Put Option, Sell ITM Put Option
Breakeven Point	Upper Breakeven Point = Strike Price of Highest Strike Long Put - Net Premium Paid, Lower Breakeven Point = Strike Price of Lowest Strike Long Put + Net Premium Paid	Strike price of short put - net premium paid

LONG PUT BUTTERFLY Vs BULL PUT SPREAD - Risk & Reward

	LONG PUT BUTTERFLY	BULL PUT SPREAD
Maximum Profit Scenario	Strike Price of Higher Strike Long Put - Strike Price of Short Put - Net Premium Paid - Commissions Paid	Max Profit = Net Premium Received
Maximum Loss Scenario	When Price of Underlying <= Strike Price of Lower Strike Long Put OR Price of Underlying >= Strike Price of Higher Strike Long Put	Max Loss = (Strike Price Put 1 - Strike Price of Put 2) - Net Premium Received
Risk	Limited	Limited
Reward	Limited	Limited

LONG PUT BUTTERFLY Vs BULL PUT SPREAD - Strategy Pros & Cons

	LONG PUT BUTTERFLY	BULL PUT SPREAD
Similar Strategies	Iron Condors, Iron Butterfly	Bull Call Spread, Bear Put Spread, Collar
Disadvantage	• Risk is higher than reward. • When the underlying price is in between the two breakeven points, time decay hurts the position.	• Limited profit potential. • In loss situations, time decay may go against you.
Advantages	• Limited maximum loss. • Unlimited profit potential, risk only limited to loss of premium. • Benefits from low volatility.	• Benefit from the time decay in profit positions but harmful in loss positions. • Profitable when underlying stock price rises, move sideways or marginal drop. • Reduce the downside risk.