IRON BUTTERFLY	LONG CALL
About Strategy	Iron Butterfly Option Strategy  This strategy is implemented when a trader is bearish on the volatility of market and neutral on the market movements. A trader will buy 1 OTM Put Option, sell 1 ATM Put Option, sell 1 ATM Call Option, buy 1 OTM Call Option. Due to offsetting of long and short positions, this strategy bags limited profit with limited risk. Read more..	Long Call Option Strategy This is one of the basic strategies as it involves entering into one position i.e. buying the Call Option only. Any investor who buys the Call Option will be bullish in nature and would be expecting the market to give decent returns in the near future. Risk: Read more..

IRON BUTTERFLY Vs LONG CALL - Details

	IRON BUTTERFLY	LONG CALL
Market View	Neutral	Bullish
Type (CE/PE)	CE (Call Option) + PE (Put Option)	CE (Call Option)
Number Of Positions	4	1
Strategy Level	Advance	Beginner Level
Reward Profile	Limited	Unlimited
Risk Profile	Limited	Limited
Breakeven Point	Upper Breakeven Point = Strike Price of Short Call + Net Premium Received, Lower Breakeven Point = Strike Price of Short Put - Net Premium Received	Strike Price + Premium

IRON BUTTERFLY Vs LONG CALL - When & How to use ?

	IRON BUTTERFLY	LONG CALL
Market View	Neutral	Bullish (Any investor who buys the Call Option will be bullish in nature and would be expecting the market to give decent returns in the near future.)
When to use?	This strategy is implemented when a trader is bearish on the volatility of market and neutral on the market movements.	This strategy work when an investor expect the underlying instrument move in upward direction.
Action	Buy 1 OTM Put, Sell 1 ATM Put, Sell 1 ATM Call, Buy 1 OTM Call	Buying Call option
Breakeven Point	Upper Breakeven Point = Strike Price of Short Call + Net Premium Received, Lower Breakeven Point = Strike Price of Short Put - Net Premium Received	Strike price + Premium

IRON BUTTERFLY Vs LONG CALL - Risk & Reward

	IRON BUTTERFLY	LONG CALL
Maximum Profit Scenario	Net Premium Received - Commissions Paid	Underlying Asset close above from the strike price on expiry.
Maximum Loss Scenario	Strike Price of Long Call - Strike Price of Short Call - Net Premium Received + Commissions Paid	Premium Paid
Risk	Limited	Limited
Reward	Limited	Unlimited

IRON BUTTERFLY Vs LONG CALL - Strategy Pros & Cons

	IRON BUTTERFLY	LONG CALL
Similar Strategies	Long Put Butterfly, Neutral Calendar Spread	Protective Put
Disadvantage	• Large commissions involved. • Probability of losses are higher.	• In this strategy, there is not protection against the underlying stock falling in value. • 100% loss if the strike price, expiration dates or underlying stocks are badly chosen.
Advantages	• Less amount of capital investment, steady income with low risk. • Traders can predict maximum loss and profit. • Versatile strategy, investors can transform position into bear call spread or bull put spread easily.	• Less investment, more profit. • Unlimited profit with limited risk. • High leverage than simply owning the stock.