SHORT PUT BUTTERFLY	NEUTRAL CALENDAR 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..	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..

SHORT PUT BUTTERFLY Vs NEUTRAL CALENDAR SPREAD - Details

	SHORT PUT BUTTERFLY	NEUTRAL CALENDAR SPREAD
Market View	Neutral	Neutral
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	-

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

	SHORT PUT BUTTERFLY	NEUTRAL CALENDAR SPREAD
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 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.
Action	Sell 1 ITM Put, Buy 2 ATM Put, Sell 1 OTM Put	Sell 1 Near-Term ATM Call, Buy 1 Long-Term ATM 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	-

SHORT PUT BUTTERFLY Vs NEUTRAL CALENDAR SPREAD - Risk & Reward

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

SHORT PUT BUTTERFLY Vs NEUTRAL CALENDAR SPREAD - Strategy Pros & Cons

	SHORT PUT BUTTERFLY	NEUTRAL CALENDAR SPREAD
Similar Strategies	Short Condor, Reverse Iron Condor	Long Put Butterfly, Iron Butterfly
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.	• Lower profitability • Must have enough experience.
Advantages	• Benefits from time decay. • Traders can earn more in a rising or range bound scenario. • Benefits from a surge in volatility.	• Almost zero margin required. • Ability to profit from time decay, limited risk. • This strategy allows you to transform position into long position.