SHORT PUT BUTTERFLY	BULL CALL SPREAD
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..	Bull Call Spread Option Strategy Bull Call Spread option trading strategy is used by a trader who is bullish in nature and expects the underlying asset to give decent returns in the near future. This strategy includes buying of an ‘In The Money’ Call Option and selling of ‘Deep Out Of the Money’ Call Option of the same underlying asset and the same expiration date. .. Read more..

SHORT PUT BUTTERFLY Vs BULL CALL SPREAD - Details

	SHORT PUT BUTTERFLY	BULL CALL SPREAD
Market View	Neutral	Bullish
Type (CE/PE)	PE (Put Option)	CE (Call Option)
Number Of Positions	4	2
Strategy Level	Advance	Beginners
Reward Profile	Limited	Limited
Risk Profile	Limited	Limited
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	Strike price of purchased call + net premium paid

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

	SHORT PUT BUTTERFLY	BULL CALL SPREAD
Market View	Neutral	Bullish
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 used when an investor is Bullish in the market but expect the underlying to gain mildly in near future.
Action	Sell 1 ITM Put, Buy 2 ATM Put, Sell 1 OTM Put	Buy ITM Call Option, Sell OTM Call Option
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	Strike price of purchased call + net premium paid

SHORT PUT BUTTERFLY Vs BULL CALL SPREAD - Risk & Reward

	SHORT PUT BUTTERFLY	BULL CALL SPREAD
Maximum Profit Scenario	Net Premium Received - Commissions Paid	(Strike Price of Call 1 - Strike Price of Call 2) - Net Premium Paid
Maximum Loss Scenario	Strike Price of Higher Strike Short Put - Strike Price of Long Put - Net Premium Received + Commissions Paid	Net Premium Paid
Risk	Limited	Limited
Reward	Limited	Limited

SHORT PUT BUTTERFLY Vs BULL CALL SPREAD - Strategy Pros & Cons

	SHORT PUT BUTTERFLY	BULL CALL SPREAD
Similar Strategies	Short Condor, Reverse Iron Condor	Collar
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.	• Limited profit potential to the higher strike call sold if the underlying stock price rises. • Maximum profit only if stock rises to the higher of 2 strike prices selected.
Advantages	• Benefits from time decay. • Traders can earn more in a rising or range bound scenario. • Benefits from a surge in volatility.	• Allows you to reduce risk and cost of your investment. • When placing the spread, exit strategy is pre-determined in advance. • Risk is limited to the net premium paid.