SHORT PUT BUTTERFLY	LONG CALL LADDER
About Strategy	Short Put Butterfly Option Strategy  In Short Put Butterfly strategy, a trader is neutral in nature and expects the market to remain range bound in the near future. A trader will buy 2 ATM Put Options; sell 1 ITM & 1 OTM Put Options. Here risk and returns both are limited. Risk:< Read more..	Long Call Ladder Option Strategy  Long Call Ladder Strategy is an extension to Bull Call Spread Strategy. A trader will be slightly bullish about the market, in this strategy but bearish over volatility. It involves buying of an ITM Call Option and sale of 1 ATM & 1 OTM Call Options. However, the risk associated with this strategy is unlimited and reward is limited. Read more..

SHORT PUT BUTTERFLY Vs LONG CALL LADDER - Details

	SHORT PUT BUTTERFLY	LONG 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	Unlimited
Breakeven Point	Upper Breakeven Point = Strike Price of Highest Strike Short Put - Net Premium Received, Lower Breakeven Point = Strike Price of Lowest Strike Short Put + Net Premium Received	Upper Breakeven Point = Total Strike Prices of Short Calls - Strike Price of Long Call - Net Premium Paid, Lower Breakeven Point = Strike Price of Long Call + Net Premium Paid

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

	SHORT PUT BUTTERFLY	LONG CALL LADDER
Market View	Neutral	Neutral
When to use?	In Short Put Butterfly strategy, a trader is neutral in nature and expects the market to remain range bound in the near future.	This Strategy is an extension to Bull Call Spread Strategy. A trader will be slightly bullish about the market, in this strategy but bearish over volatility.
Action	Sell 1 ITM Put, Buy 2 ATM Put, Sell 1 OTM Put	Buy 1 ITM Call, Sell 1 ATM Call, Sell 1 OTM Call
Breakeven Point	Upper Breakeven Point = Strike Price of Highest Strike Short Put - Net Premium Received, Lower Breakeven Point = Strike Price of Lowest Strike Short Put + Net Premium Received	Upper Breakeven Point = Total Strike Prices of Short Calls - Strike Price of Long Call - Net Premium Paid, Lower Breakeven Point = Strike Price of Long Call + Net Premium Paid

SHORT PUT BUTTERFLY Vs LONG CALL LADDER - Risk & Reward

	SHORT PUT BUTTERFLY	LONG CALL LADDER
Maximum Profit Scenario	Net Premium Received - Commissions Paid	Strike Price of Lower Strike Short Call - Strike Price of Long Call - Net Premium Paid - Commissions Paid
Maximum Loss Scenario	Strike Price of Higher Strike Short Put - Strike Price of Long Put - Net Premium Received + Commissions Paid	Price of Underlying - Upper Breakeven Price + Commissions Paid
Risk	Limited	Unlimited
Reward	Limited	Unlimited

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

	SHORT PUT BUTTERFLY	LONG CALL LADDER
Similar Strategies	Short Condor, Reverse Iron Condor	Short Strangle (Sell Strangle), Short Straddle (Sell Straddle)
Disadvantage	• High risk strategy and may cause huge losses if the price of the underlying stocks falls steeply. • Higher profit is only possible when shares get close to expiration.	• Unlimited risk. • Margin required.
Advantages	• Benefits from time decay. • Traders can earn more in a rising or range bound scenario. • Benefits from a surge in volatility.	• Reduces capital outlay of bull call spread. • Wider maximum profit zone. • When there is decrease in implied volatility, this strategy can give profit.