SHORT CALL BUTTERFLY	SHORT CALL CONDOR 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..	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 CALL BUTTERFLY Vs SHORT CALL CONDOR SPREAD - Details

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

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

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

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

	SHORT CALL BUTTERFLY	SHORT CALL CONDOR SPREAD
Maximum Profit Scenario	The profit is limited to the net premium received.	Strike Price of Lower Strike Short Call - Strike Price of Lower Strike Long Call - Net Premium Paid
Maximum Loss Scenario	Higher strike price- Lower Strike Price - Net Premium	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 CALL BUTTERFLY Vs SHORT CALL CONDOR SPREAD - Strategy Pros & Cons

	SHORT CALL BUTTERFLY	SHORT CALL CONDOR SPREAD
Similar Strategies	Long Straddle, Long Call Butterfly	Short Strangle
Disadvantage	• Limited rewards, usually offer smaller return. • Profitability depends on the significant movement of stocks and options prices.	• 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	• 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.	• 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.