NEUTRAL CALENDAR SPREAD	CHRISTMAS TREE SPREAD WITH PUT OPTION
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..	Christmas Tree Spread with Puts Option Strategy This Strategy is an advance option strategy that consists of three legs and six total options. In this strategy buying one put at strike price D, skipping strike price C, writes three calls at strike price B, and buying two calls at strike price A for same expiration dates for neutral to bearish forecast. An investor used this strategy to potential returns .. Read more..

NEUTRAL CALENDAR SPREAD Vs CHRISTMAS TREE SPREAD WITH PUT OPTION - Details

	NEUTRAL CALENDAR SPREAD	CHRISTMAS TREE SPREAD WITH PUT OPTION
Market View	Neutral	Bearish
Type (CE/PE)	CE (Call Option)	CE (Call Option)
Number Of Positions	2	6
Strategy Level	Beginners	Advance
Reward Profile	Limited	Limited
Risk Profile	Limited	Limited
Breakeven Point	-	Lowest strike prices + the half premium – premium paid

NEUTRAL CALENDAR SPREAD Vs CHRISTMAS TREE SPREAD WITH PUT OPTION - When & How to use ?

	NEUTRAL CALENDAR SPREAD	CHRISTMAS TREE SPREAD WITH PUT OPTION
Market View	Neutral	Bearish
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 an investor wants potential returns.
Action	Sell 1 Near-Term ATM Call, Buy 1 Long-Term ATM Call	Buying one ATM, Selling 3 Puts, Buying one more OTM Put
Breakeven Point	-	Lowest strike prices + the half premium – premium paid

NEUTRAL CALENDAR SPREAD Vs CHRISTMAS TREE SPREAD WITH PUT OPTION - Risk & Reward

	NEUTRAL CALENDAR SPREAD	CHRISTMAS TREE SPREAD WITH PUT OPTION
Maximum Profit Scenario	Maximum Profit Limited When underlying stock price remains unchanged on expiration of the near month options.	Equal middle strike price – higher strike price – the premium
Maximum Loss Scenario	It occurs when the stock price goes down and stays down until expiration of the longer term options.	Net Debit paid for the strategy.
Risk	Limited	Limited
Reward	Limited	Limited

NEUTRAL CALENDAR SPREAD Vs CHRISTMAS TREE SPREAD WITH PUT OPTION - Strategy Pros & Cons

	NEUTRAL CALENDAR SPREAD	CHRISTMAS TREE SPREAD WITH PUT OPTION
Similar Strategies	Long Put Butterfly, Iron Butterfly	Butterfly spreads
Disadvantage	• Lower profitability • Must have enough experience.	• Potential profit is lower or limited.
Advantages	• Almost zero margin required. • Ability to profit from time decay, limited risk. • This strategy allows you to transform position into long position.	• The potential of loss is limited.