NEUTRAL CALENDAR SPREAD	RATIO PUT SPREAD
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..	Ratio Put Spread Option Strategy  This strategy involves buying ITM Puts and simultaneously selling OTM Puts, double the number of ITM Puts. This strategy is used by a trader who is neutral on the market and bearish on the volatility in the near future. Here profits will be capped up to the premium amount and risk will be potentially unlimited. Read more..

NEUTRAL CALENDAR SPREAD Vs RATIO PUT SPREAD - Details

	NEUTRAL CALENDAR SPREAD	RATIO PUT SPREAD
Market View	Neutral	Neutral
Type (CE/PE)	CE (Call Option)	PE (Put Option)
Number Of Positions	2	3
Strategy Level	Beginners	Beginners
Reward Profile	Limited	Limited
Risk Profile	Limited	Unlimited
Breakeven Point	-	Upper Breakeven Point = Strike Price of Long Put +/- Net Premium Received or Paid, Lower Breakeven Point = Strike Price of Short Puts - (Points of Maximum Profit / Number of Uncovered Puts)

NEUTRAL CALENDAR SPREAD Vs RATIO PUT SPREAD - When & How to use ?

	NEUTRAL CALENDAR SPREAD	RATIO PUT SPREAD
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 by a trader who is neutral on the market and bearish on the volatility in the near future.
Action	Sell 1 Near-Term ATM Call, Buy 1 Long-Term ATM Call	Buy 1 ITM Put, Sell 2 OTM Puts
Breakeven Point	-	Upper Breakeven Point = Strike Price of Long Put +/- Net Premium Received or Paid, Lower Breakeven Point = Strike Price of Short Puts - (Points of Maximum Profit / Number of Uncovered Puts)

NEUTRAL CALENDAR SPREAD Vs RATIO PUT SPREAD - Risk & Reward

	NEUTRAL CALENDAR SPREAD	RATIO PUT SPREAD
Maximum Profit Scenario	Maximum Profit Limited When underlying stock price remains unchanged on expiration of the near month options.	Strike Price of Long Put - Strike Price of Short Put + Net Premium Received - Commissions Paid
Maximum Loss Scenario	It occurs when the stock price goes down and stays down until expiration of the longer term options.	Strike Price of Short - Price of Underlying - Max Profit + Commissions Paid
Risk	Limited	Unlimited
Reward	Limited	Limited

NEUTRAL CALENDAR SPREAD Vs RATIO PUT SPREAD - Strategy Pros & Cons

	NEUTRAL CALENDAR SPREAD	RATIO PUT SPREAD
Similar Strategies	Long Put Butterfly, Iron Butterfly	Short Straddle (Sell Straddle), Short Strangle (Sell Strangle)
Disadvantage	• Lower profitability • Must have enough experience.	• Unlimited potential risk. • Limited profit.
Advantages	• Almost zero margin required. • Ability to profit from time decay, limited risk. • This strategy allows you to transform position into long position.	• Directional strategy so that there is either no upside or downside risk. • Able to profit even if trader is neutral on the market. • Higher probability of profit.