NEUTRAL CALENDAR SPREAD	RATIO CALL SPREAD
About Strategy	Neutral Calendar Spread Option strategy  This strategy is implemented if the trader is neutral in the near future for say 2 months or so. This strategy involves writing of Near Month 1 ATM Call Option and buying 1 Mid Month ATM Call Option, hence reducing the cost of purchase, with the same strike price of the same underlying asset. This strategy is used when the trader wants to make money from the Read more..	Ratio Call Spread Option Strategy  As the name suggests, a ratio of 2:1 is followed i.e. buy 1 ITM Call and simultaneously sell OTM Calls double the number of ITM Calls (In this case 2). This strategy is used by trader who is neutral on the market and bearish on the volatility in the near future. Here profits will be capped up to the premium amount and risk will be potentially unlimited since he is .. Read more..

NEUTRAL CALENDAR SPREAD Vs RATIO CALL SPREAD - Details

	NEUTRAL CALENDAR SPREAD	RATIO CALL SPREAD
Market View	Neutral	Neutral
Type (CE/PE)	CE (Call Option)	CE (Call Option)
Number Of Positions	2	3
Strategy Level	Beginners	Beginners
Reward Profile	Limited	Limited
Risk Profile	Limited	Unlimited
Breakeven Point	-	Upper Breakeven Point = Strike Price of Short Calls + (Points of Maximum Profit / Number of Uncovered Calls), Lower Breakeven Point = Strike Price of Long Call +/- Net Premium Paid or Received

NEUTRAL CALENDAR SPREAD Vs RATIO CALL SPREAD - When & How to use ?

	NEUTRAL CALENDAR SPREAD	RATIO CALL SPREAD
Market View	Neutral	Neutral
When to use?	This strategy is implemented if the trader is neutral in the near future for say 2 months or so. This strategy involves writing of Near Month 1 ATM Call Option and buying 1 Mid Month ATM Call Option.	This strategy is used by trader who is neutral on the market and bearish on the volatility in the near future. Here profits will be capped up to the premium amount and risk will be potentially unlimited since he is selling two calls.
Action	Sell 1 Near-Term ATM Call, Buy 1 Long-Term ATM Call	Buy 1 ITM Call, Sell 2 OTM Calls
Breakeven Point	-	Upper Breakeven Point = Strike Price of Short Calls + (Points of Maximum Profit / Number of Uncovered Calls), Lower Breakeven Point = Strike Price of Long Call +/- Net Premium Paid or Received

NEUTRAL CALENDAR SPREAD Vs RATIO CALL SPREAD - Risk & Reward

	NEUTRAL CALENDAR SPREAD	RATIO CALL SPREAD
Maximum Profit Scenario	Maximum Profit Limited When underlying stock price remains unchanged on expiration of the near month options.	Strike Price of Short Call - Strike Price of Long Call + Net Premium Received - Commissions Paid
Maximum Loss Scenario	It occurs when the stock price goes down and stays down until expiration of the longer term options.	Price of Underlying - Strike Price of Short Calls - Max Profit + Commissions Paid
Risk	Limited	Unlimited
Reward	Limited	Limited

NEUTRAL CALENDAR SPREAD Vs RATIO CALL SPREAD - Strategy Pros & Cons

	NEUTRAL CALENDAR SPREAD	RATIO CALL SPREAD
Similar Strategies	Long Put Butterfly, Iron Butterfly	Variable Ratio Write
Disadvantage	• Lower profitability • Must have enough experience.	• Unlimited potential loss. • Complex strategy with limited profit.
Advantages	• Almost zero margin required. • Ability to profit from time decay, limited risk. • This strategy allows you to transform position into long position.	• Downside risk is almost zero. • Investors can book profit from share prices moving within given limits. • Trader can maximise profit when the share closes at the upper breakeven point.