SHORT CALL BUTTERFLY	IRON CONDORS
About Strategy	Short Call Butterfly Option Strategy This strategy is opposite of the Long Call Butterfly Strategy, a trader expects the market to remain range bound in Long Call Butterfly, but here he expects the market to move beyond strike boundaries in Short Call Butterfly. If the trader is bullish on the market’s volatility, he will implement this strategy. Here also there should be equal distance between the Read more..	Iron Condors Option Strategy Iron Condor is a neutral trading strategy. A trader tries to make profit from low volatility in the price of the underlying asset. This strategy will be better understood if you recall ‘Bull Put Spread’ & ‘Bear Call Spread’. A trader will buy one Deep OTM Put Option and sell one OTM Put Option,. He will also sell one OTM Call Option and buy one Deep OTM Call Option. .. Read more..

SHORT CALL BUTTERFLY Vs IRON CONDORS - Details

	SHORT CALL BUTTERFLY	IRON CONDORS
Market View	Neutral	Neutral
Type (CE/PE)	CE (Call Option)	CE (Call Option) + PE (Put Option)
Number Of Positions	4	4
Strategy Level	Advance	Advance
Reward Profile	Limited	Limited
Risk Profile	Limited	Limited
Breakeven Point	Lower Break-even = Lower Strike Price + Net Premium, Upper Break-even = Higher Strike Price - Net Premium	Upper Breakeven Point = Strike Price of Short Call + Net Premium Received, Lower Breakeven Point = Strike Price of Short Put - Net Premium Received

SHORT CALL BUTTERFLY Vs IRON CONDORS - When & How to use ?

	SHORT CALL BUTTERFLY	IRON CONDORS
Market View	Neutral	Neutral
When to use?	This strategy is meant for special scenarios where you foresee a lot of volatility in the market due to election results, budget, policy change, annual result announcements etc.	When a trader tries to make profit from low volatility in the price of the underlying asset.
Action	Buy 2 ATM Call, Sell 1 ITM Call, Sell 1 OTM Call	Sell 1 OTM Put, Buy 1 OTM Put (Lower Strike), Sell 1 OTM Call, Buy 1 OTM Call (Higher Strike)
Breakeven Point	Lower Break-even = Lower Strike Price + Net Premium, Upper Break-even = Higher Strike Price - Net Premium	Upper Breakeven Point = Strike Price of Short Call + Net Premium Received, Lower Breakeven Point = Strike Price of Short Put - Net Premium Received

SHORT CALL BUTTERFLY Vs IRON CONDORS - Risk & Reward

	SHORT CALL BUTTERFLY	IRON CONDORS
Maximum Profit Scenario	The profit is limited to the net premium received.	Net Premium Received - Commissions Paid
Maximum Loss Scenario	Higher strike price- Lower Strike Price - Net Premium	Strike Price of Long Call - Strike Price of Short Call - Net Premium Received + Commissions Paid
Risk	Limited	Limited
Reward	Limited	Limited

SHORT CALL BUTTERFLY Vs IRON CONDORS - Strategy Pros & Cons

	SHORT CALL BUTTERFLY	IRON CONDORS
Similar Strategies	Long Straddle, Long Call Butterfly	Long Put Butterfly, Neutral Calendar Spread
Disadvantage	• Limited rewards, usually offer smaller return. • Profitability depends on the significant movement of stocks and options prices.	• Full of risk. • Unlimited maximum loss.
Advantages	• Even if the market is highly volatile, the risk exposure remains limited. • Without any extra investment, you can receive your premium. • Able to book profits even when the price movement cannot be predicted.	• Chance to gather double premium. • Sure, maximum gains on one-half the trade. • Flexible and double leverage at half price.