LONG PUT BUTTERFLY	SHORT CALL CONDOR SPREAD
About Strategy	Long Put Butterfly Option Strategy  The Long Put Butterfly is a neutral strategy where a trader will be bearish on the volatility i.e. he thinks the market will have sideways kind of movement and will not rally sharply in either direction in the near future. This strategy involves sale of 2 ATM Put Options, buy 1 ITM and 1 OTM Put Option. The risk and reward are limited. Read more..	Short Call Condor Spread Option Strategy Short Call Condor Spread is the opposite of Long Call Condor Spread i.e. sell 1 Deep ITM Call Option, buy 1 ITM Call Option, buy 1 OTM Call Option, sell 1 Deep OTM Call Option. Similar to Long Call Condor, the risk and rewards associated with this strategy are limited. Credit is received at the time of entering into this strategy. Read more..

LONG PUT BUTTERFLY Vs SHORT CALL CONDOR SPREAD - Details

	LONG PUT BUTTERFLY	SHORT CALL CONDOR SPREAD
Market View	Neutral	Volatile
Type (CE/PE)	PE (Put Option)	CE (Call 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 Highest Strike Long Put - Net Premium Paid, Lower Breakeven Point = Strike Price of Lowest Strike Long Put + Net Premium Paid	Lower Breakeven = Lower Strike Price + Net Premium, Upper breakeven = Higher Strike Price - Net Premium

LONG PUT BUTTERFLY Vs SHORT CALL CONDOR SPREAD - When & How to use ?

	LONG PUT BUTTERFLY	SHORT CALL CONDOR SPREAD
Market View	Neutral	Volatile
When to use?	The Long Put Butterfly is a neutral strategy where a trader will be bearish on the volatility i.e. he thinks the market will have sideways kind of movement and will not rally sharply in either direction in the near future.	This strategy is used when an investor expect the price of the underlying stock to be very volatile.
Action	Buy 1 OTM Put, Sell 2 ATM Puts, Buy 1 ITM Put	Buy ITM Call Option + Buy OTM Call Option + Sell Deep OTM Call Option + Sell Deep ITM Call Option
Breakeven Point	Upper Breakeven Point = Strike Price of Highest Strike Long Put - Net Premium Paid, Lower Breakeven Point = Strike Price of Lowest Strike Long Put + Net Premium Paid	Lower Breakeven = Lower Strike Price + Net Premium, Upper breakeven = Higher Strike Price - Net Premium

LONG PUT BUTTERFLY Vs SHORT CALL CONDOR SPREAD - Risk & Reward

	LONG PUT BUTTERFLY	SHORT CALL CONDOR SPREAD
Maximum Profit Scenario	Strike Price of Higher Strike Long Put - Strike Price of Short Put - Net Premium Paid - Commissions Paid	Strike Price of Lower Strike Short Call - Strike Price of Lower Strike Long Call - Net Premium Paid
Maximum Loss Scenario	When Price of Underlying <= Strike Price of Lower Strike Long Put OR Price of Underlying >= Strike Price of Higher Strike Long Put	Strike Price of Lower Strike Long Call - Strike Price of Lower Strike Short Call - Net Premium Received + Commissions Paid
Risk	Limited	Limited
Reward	Limited	Limited

LONG PUT BUTTERFLY Vs SHORT CALL CONDOR SPREAD - Strategy Pros & Cons

	LONG PUT BUTTERFLY	SHORT CALL CONDOR SPREAD
Similar Strategies	Iron Condors, Iron Butterfly	Short Strangle
Disadvantage	• Risk is higher than reward. • When the underlying price is in between the two breakeven points, time decay hurts the position.	• Amount of profit is low in comparison with other strategies. • As this strategy has 4 legs so the brokerage cost is higher that will affect your profit.
Advantages	• Limited maximum loss. • Unlimited profit potential, risk only limited to loss of premium. • Benefits from low volatility.	• This strategy allows you to profit from highly volatile underlying assets moving in any direction. • Earn profit with little or no investment. • Wider profit zone.