LONG PUT BUTTERFLY	SHORT CALL LADDER
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 Ladder Option Strategy  This strategy is implemented when a trader is moderately bullish on the market, and volatility. It involves sale of an ITM Call Option, buying of an ATM Call Option & OTM Call Option. The risk associated with the strategy is limited. Risk: Read more..

LONG PUT BUTTERFLY Vs SHORT CALL LADDER - Details

	LONG PUT BUTTERFLY	SHORT CALL LADDER
Market View	Neutral	Neutral
Type (CE/PE)	PE (Put Option)	CE (Call Option)
Number Of Positions	4	3
Strategy Level	Advance	Advance
Reward Profile	Limited	Unlimited
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	Upper Breakeven Point = Total Strike Prices of Long Calls - Strike Price of Short Call + Net Premium Received Lower Breakeven Point = Strike Price of Short Call - Net Premium Received

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

	LONG PUT BUTTERFLY	SHORT CALL LADDER
Market View	Neutral	Neutral
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 implemented when a trader is moderately bullish on the market, and volatility
Action	Buy 1 OTM Put, Sell 2 ATM Puts, Buy 1 ITM Put	Sell 1 ITM Call, Buy 1 ATM Call, Buy 1 OTM Call
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	Upper Breakeven Point = Total Strike Prices of Long Calls - Strike Price of Short Call + Net Premium Received Lower Breakeven Point = Strike Price of Short Call - Net Premium Received

LONG PUT BUTTERFLY Vs SHORT CALL LADDER - Risk & Reward

	LONG PUT BUTTERFLY	SHORT CALL LADDER
Maximum Profit Scenario	Strike Price of Higher Strike Long Put - Strike Price of Short Put - Net Premium Paid - Commissions Paid	Profit Achieved When Price of Underlying > Total Strike Prices of Long Calls - Strike Price of Short Call + Net Premium Received
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 Short Call - Net Premium Received + Commissions Paid
Risk	Limited	Limited
Reward	Limited	Unlimited

LONG PUT BUTTERFLY Vs SHORT CALL LADDER - Strategy Pros & Cons

	LONG PUT BUTTERFLY	SHORT CALL LADDER
Similar Strategies	Iron Condors, Iron Butterfly	Short Put Ladder, Strip, Strap
Disadvantage	• Risk is higher than reward. • When the underlying price is in between the two breakeven points, time decay hurts the position.	• Unlimited risk. • Margin required.
Advantages	• Limited maximum loss. • Unlimited profit potential, risk only limited to loss of premium. • Benefits from low volatility.	• Higher probability of profit. • Unlimited upside profit. • Limited maximum loss.