NEUTRAL CALENDAR SPREAD	REVERSE IRON BUTTERFLY
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..	Reverse Iron Butterfly Option Strategy Reverse Iron Butterfly as the name suggests is the opposite of Iron Butterfly. In Reverse Iron Butterfly, a trader is bullish on volatility and expects the market to make significant move in the near future in either directions. Here a trader will buy 1 ATM Call Option, sell 1 OTM Call Option, buy 1 ATM Put Option, sell 1 OTM Put Option. This strategy also bags lim .. Read more..

NEUTRAL CALENDAR SPREAD Vs REVERSE IRON BUTTERFLY - Details

	NEUTRAL CALENDAR SPREAD	REVERSE IRON BUTTERFLY
Market View	Neutral	Neutral
Type (CE/PE)	CE (Call Option)	CE (Call Option) + PE (Put Option)
Number Of Positions	2	4
Strategy Level	Beginners	Advance
Reward Profile	Limited	Limited
Risk Profile	Limited	Limited
Breakeven Point	-	Upper Breakeven Point = Strike Price of Long Call + Net Premium Paid, Lower Breakeven Point = Strike Price of Long Put - Net Premium Paid

NEUTRAL CALENDAR SPREAD Vs REVERSE IRON BUTTERFLY - When & How to use ?

	NEUTRAL CALENDAR SPREAD	REVERSE IRON BUTTERFLY
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 when a trader is bullish on volatility and expects the market to make significant move in the near future in either directions.
Action	Sell 1 Near-Term ATM Call, Buy 1 Long-Term ATM Call	Sell 1 OTM Put, Buy 1 ATM Put, Buy 1 ATM Call, Sell 1 OTM Call
Breakeven Point	-	Upper Breakeven Point = Strike Price of Long Call + Net Premium Paid, Lower Breakeven Point = Strike Price of Long Put - Net Premium Paid

NEUTRAL CALENDAR SPREAD Vs REVERSE IRON BUTTERFLY - Risk & Reward

	NEUTRAL CALENDAR SPREAD	REVERSE IRON BUTTERFLY
Maximum Profit Scenario	Maximum Profit Limited When underlying stock price remains unchanged on expiration of the near month options.	Strike Price of Short Call (or Long Put) - Strike Price of Long Call (or Short Put) - Net Premium Paid - Commissions Paid
Maximum Loss Scenario	It occurs when the stock price goes down and stays down until expiration of the longer term options.	Net Premium Paid + Commissions Paid
Risk	Limited	Limited
Reward	Limited	Limited

NEUTRAL CALENDAR SPREAD Vs REVERSE IRON BUTTERFLY - Strategy Pros & Cons

	NEUTRAL CALENDAR SPREAD	REVERSE IRON BUTTERFLY
Similar Strategies	Long Put Butterfly, Iron Butterfly	Short Put Butterfly, Short Condor
Disadvantage	• Lower profitability • Must have enough experience.	• Potential loss is higher than gain, complex strategy. • Not suitable for beginners.
Advantages	• Almost zero margin required. • Ability to profit from time decay, limited risk. • This strategy allows you to transform position into long position.	• Able to profit whether stocks move in either direction up or down. • This strategy can be used by option traders who cannot use credit spreads. • Predictable maximum loss and profits, volatile strategy.