IRON BUTTERFLY	IRON CONDORS
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..	Iron Condors Option Strategy Iron Condor is a neutral trading strategy. A trader tries to make profit from low volatility in the price of the underlying asset. This strategy will be better understood if you recall ‘Bull Put Spread’ & ‘Bear Call Spread’. A trader will buy one Deep OTM Put Option and sell one OTM Put Option,. He will also sell one OTM Call Option and buy one Deep OTM Call Option. .. Read more..

IRON BUTTERFLY Vs IRON CONDORS - Details

	IRON BUTTERFLY	IRON CONDORS
Market View	Neutral	Neutral
Type (CE/PE)	CE (Call Option) + PE (Put Option)	CE (Call Option) + PE (Put Option)
Number Of Positions	4	4
Strategy Level	Advance	Advance
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	Upper Breakeven Point = Strike Price of Short Call + Net Premium Received, Lower Breakeven Point = Strike Price of Short Put - Net Premium Received

IRON BUTTERFLY Vs IRON CONDORS - When & How to use ?

	IRON BUTTERFLY	IRON CONDORS
Market View	Neutral	Neutral
When to use?	This strategy is implemented when a trader is bearish on the volatility of market and neutral on the market movements.	When a trader tries to make profit from low volatility in the price of the underlying asset.
Action	Buy 1 OTM Put, Sell 1 ATM Put, Sell 1 ATM Call, Buy 1 OTM Call	Sell 1 OTM Put, Buy 1 OTM Put (Lower Strike), Sell 1 OTM Call, Buy 1 OTM Call (Higher Strike)
Breakeven Point	Upper Breakeven Point = Strike Price of Short Call + Net Premium Received, Lower Breakeven Point = Strike Price of Short Put - Net Premium Received	Upper Breakeven Point = Strike Price of Short Call + Net Premium Received, Lower Breakeven Point = Strike Price of Short Put - Net Premium Received

IRON BUTTERFLY Vs IRON CONDORS - Risk & Reward

	IRON BUTTERFLY	IRON CONDORS
Maximum Profit Scenario	Net Premium Received - Commissions Paid	Net Premium Received - Commissions Paid
Maximum Loss Scenario	Strike Price of Long Call - Strike Price of Short Call - Net Premium Received + Commissions Paid	Strike Price of Long Call - Strike Price of Short Call - Net Premium Received + Commissions Paid
Risk	Limited	Limited
Reward	Limited	Limited

IRON BUTTERFLY Vs IRON CONDORS - Strategy Pros & Cons

	IRON BUTTERFLY	IRON CONDORS
Similar Strategies	Long Put Butterfly, Neutral Calendar Spread	Long Put Butterfly, Neutral Calendar Spread
Disadvantage	• Large commissions involved. • Probability of losses are higher.	• Full of risk. • Unlimited maximum loss.
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.	• Chance to gather double premium. • Sure, maximum gains on one-half the trade. • Flexible and double leverage at half price.