LONG CALL LADDER	PUT BACKSPREAD
About Strategy	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..	Put Backspread Option Strategy If the trader is bearish on market and bullish in volatility, he will implement this strategy. However the trader can be neutral in nature i.e. indifferent if the market moves in either of the direction, this strategy will make profits, but uptrend will give a capped income than downtrend which will give unlimited returns. Read more..

LONG CALL LADDER Vs PUT BACKSPREAD - Details

	LONG CALL LADDER	PUT BACKSPREAD
Market View	Neutral	Bearish
Type (CE/PE)	CE (Call Option)	PE (Put Option)
Number Of Positions	3	2
Strategy Level	Advance	Advance
Reward Profile	Unlimited
Risk Profile	Unlimited
Breakeven Point	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

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

	LONG CALL LADDER	PUT BACKSPREAD
Market View	Neutral	Bearish
When to use?	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	Buy 1 ITM Call, Sell 1 ATM Call, Sell 1 OTM Call
Breakeven Point	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

LONG CALL LADDER Vs PUT BACKSPREAD - Risk & Reward

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

LONG CALL LADDER Vs PUT BACKSPREAD - Strategy Pros & Cons

	LONG CALL LADDER	PUT BACKSPREAD
Similar Strategies	Short Strangle (Sell Strangle), Short Straddle (Sell Straddle)
Disadvantage	• Unlimited risk. • Margin required.
Advantages	• Reduces capital outlay of bull call spread. • Wider maximum profit zone. • When there is decrease in implied volatility, this strategy can give profit.