SHORT CALL BUTTERFLY	BULL CALENDER SPREAD
About Strategy	Short Call Butterfly Option Strategy This strategy is opposite of the Long Call Butterfly Strategy, a trader expects the market to remain range bound in Long Call Butterfly, but here he expects the market to move beyond strike boundaries in Short Call Butterfly. If the trader is bullish on the market’s volatility, he will implement this strategy. Here also there should be equal distance between the Read more..	Bull Calendar Spread Option Strategy This strategy is implemented when a trader is bullish on the underlying stock/index in the short term say 2 months or so. A trader will write one Near Month OTM Call Option and buy one next Month OTM Call Option, thereby reducing the cost of purchase, with the same strike price of the same underlying asset. This strategy is used when a trader wants to make prof .. Read more..

SHORT CALL BUTTERFLY Vs BULL CALENDER SPREAD - Details

	SHORT CALL BUTTERFLY	BULL CALENDER SPREAD
Market View	Neutral	Bullish
Type (CE/PE)	CE (Call Option)	CE (Call Option) + PE (Put Option)
Number Of Positions	4	2
Strategy Level	Advance	Beginners
Reward Profile	Limited	Unlimited
Risk Profile	Limited	Limited
Breakeven Point	Lower Break-even = Lower Strike Price + Net Premium, Upper Break-even = Higher Strike Price - Net Premium	Stock Price when long call value is equal to net debit.

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

	SHORT CALL BUTTERFLY	BULL CALENDER SPREAD
Market View	Neutral	Bullish
When to use?	This strategy is meant for special scenarios where you foresee a lot of volatility in the market due to election results, budget, policy change, annual result announcements etc.	This strategy is used when a trader wants to make profit from a steady increase in the stock price over a short period of time.
Action	Buy 2 ATM Call, Sell 1 ITM Call, Sell 1 OTM Call	Sell 1 Near-Term OTM Call, Buy 1 Long-Term OTM Call
Breakeven Point	Lower Break-even = Lower Strike Price + Net Premium, Upper Break-even = Higher Strike Price - Net Premium	Stock Price when long call value is equal to net debit.

SHORT CALL BUTTERFLY Vs BULL CALENDER SPREAD - Risk & Reward

	SHORT CALL BUTTERFLY	BULL CALENDER SPREAD
Maximum Profit Scenario	The profit is limited to the net premium received.	You have unlimited profit potential to the upside.
Maximum Loss Scenario	Higher strike price- Lower Strike Price - Net Premium	Max Loss = Premium Paid + Commissions Paid
Risk	Limited	Limited
Reward	Limited	Unlimited

SHORT CALL BUTTERFLY Vs BULL CALENDER SPREAD - Strategy Pros & Cons

	SHORT CALL BUTTERFLY	BULL CALENDER SPREAD
Similar Strategies	Long Straddle, Long Call Butterfly	The Collar, Bull Put Spread
Disadvantage	• Limited rewards, usually offer smaller return. • Profitability depends on the significant movement of stocks and options prices.	• Limited profit even if underlying asset rallies. • If the short call options are assigned when the underlying asset rallies then losses can be sustained.
Advantages	• Even if the market is highly volatile, the risk exposure remains limited. • Without any extra investment, you can receive your premium. • Able to book profits even when the price movement cannot be predicted.	• Limited losses to the net debit. • Enable trader to book profit even if underlying asset stays stagnant. • If the market trends reverse, cashing in from stock price movement at limited risk.