IRON BUTTERFLY	BULL CALL SPREAD
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..	Bull Call Spread Option Strategy Bull Call Spread option trading strategy is used by a trader who is bullish in nature and expects the underlying asset to give decent returns in the near future. This strategy includes buying of an ‘In The Money’ Call Option and selling of ‘Deep Out Of the Money’ Call Option of the same underlying asset and the same expiration date. .. Read more..

IRON BUTTERFLY Vs BULL CALL SPREAD - Details

	IRON BUTTERFLY	BULL CALL SPREAD
Market View	Neutral	Bullish
Type (CE/PE)	CE (Call Option) + PE (Put Option)	CE (Call Option)
Number Of Positions	4	2
Strategy Level	Advance	Beginners
Reward Profile	Limited	Limited
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 of purchased call + net premium paid

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

	IRON BUTTERFLY	BULL CALL SPREAD
Market View	Neutral	Bullish
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 is used when an investor is Bullish in the market but expect the underlying to gain mildly in near future.
Action	Buy 1 OTM Put, Sell 1 ATM Put, Sell 1 ATM Call, Buy 1 OTM Call	Buy ITM Call Option, Sell OTM 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 of purchased call + net premium paid

IRON BUTTERFLY Vs BULL CALL SPREAD - Risk & Reward

	IRON BUTTERFLY	BULL CALL SPREAD
Maximum Profit Scenario	Net Premium Received - Commissions Paid	(Strike Price of Call 1 - Strike Price of Call 2) - Net Premium Paid
Maximum Loss Scenario	Strike Price of Long Call - Strike Price of Short Call - Net Premium Received + Commissions Paid	Net Premium Paid
Risk	Limited	Limited
Reward	Limited	Limited

IRON BUTTERFLY Vs BULL CALL SPREAD - Strategy Pros & Cons

	IRON BUTTERFLY	BULL CALL SPREAD
Similar Strategies	Long Put Butterfly, Neutral Calendar Spread	Collar
Disadvantage	• Large commissions involved. • Probability of losses are higher.	• Limited profit potential to the higher strike call sold if the underlying stock price rises. • Maximum profit only if stock rises to the higher of 2 strike prices selected.
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.	• Allows you to reduce risk and cost of your investment. • When placing the spread, exit strategy is pre-determined in advance. • Risk is limited to the net premium paid.