SHORT GUTS	BULL CALENDER SPREAD
About Strategy	Short Guts Option Strategy  This strategy is implemented by a trader when he is neutral on the movements and bearish on volatility i.e. he expects the stock to be range bound in the near future. This strategy involves sale of 1 ITM Call Option and 1 ITM Put Option. This strategy can be called as Credit Spread since his account is credited at the time of entering in the positions. < Read more..	Bull Calendar Spread Option Strategy This strategy is implemented when a trader is bullish on the underlying stock/index in the short term say 2 months or so. A trader will write one Near Month OTM Call Option and buy one next Month OTM Call Option, thereby reducing the cost of purchase, with the same strike price of the same underlying asset. This strategy is used when a trader wants to make prof .. Read more..

SHORT GUTS Vs BULL CALENDER SPREAD - Details

	SHORT GUTS	BULL CALENDER SPREAD
Market View	Neutral	Bullish
Type (CE/PE)	CE (Call Option) + PE (Put Option)	CE (Call Option) + PE (Put Option)
Number Of Positions	2	2
Strategy Level	Beginners	Beginners
Reward Profile	Limited	Unlimited
Risk Profile	Unlimited	Limited
Breakeven Point	Upper Breakeven Point = Net Premium Received + Strike Price of Short Call, Lower Breakeven Point = Strike Price of Short Put - Net Premium Received	Stock Price when long call value is equal to net debit.

SHORT GUTS Vs BULL CALENDER SPREAD - When & How to use ?

	SHORT GUTS	BULL CALENDER SPREAD
Market View	Neutral	Bullish
When to use?	This strategy is implemented by a trader when he is neutral on the movements and bearish on volatility i.e. he expects the stock to be range bound in the near future.	This strategy is used when a trader wants to make profit from a steady increase in the stock price over a short period of time.
Action	Sell 1 ITM Call, Sell 1 ITM Put	Sell 1 Near-Term OTM Call, Buy 1 Long-Term OTM Call
Breakeven Point	Upper Breakeven Point = Net Premium Received + Strike Price of Short Call, Lower Breakeven Point = Strike Price of Short Put - Net Premium Received	Stock Price when long call value is equal to net debit.

SHORT GUTS Vs BULL CALENDER SPREAD - Risk & Reward

	SHORT GUTS	BULL CALENDER SPREAD
Maximum Profit Scenario	Net Premium Received + Strike Price of Short Put - Strike Price of Short Call - Commissions Paid	You have unlimited profit potential to the upside.
Maximum Loss Scenario	Price of Underlying - Strike Price of Short Call - Net Premium Received OR Strike Price of Short Put - Price of Underlying - Net Premium Received + Commissions Paid	Max Loss = Premium Paid + Commissions Paid
Risk	Unlimited	Limited
Reward	Limited	Unlimited

SHORT GUTS Vs BULL CALENDER SPREAD - Strategy Pros & Cons

	SHORT GUTS	BULL CALENDER SPREAD
Similar Strategies	Short Strangle (Sell Strangle), Short Straddle (Sell Straddle)	The Collar, Bull Put Spread
Disadvantage	• Unlimited potential loss if the underlying stock continues to move in one direction. • High margin required.	• Limited profit even if underlying asset rallies. • If the short call options are assigned when the underlying asset rallies then losses can be sustained.
Advantages	• Ability to profit even when underlying asset stays stagnant. • You are already paid your full profit the moment the position is put on as this is a credit spread position. • Higher chance of ending in full profit as compared to short strangle or short straddle.	• Limited losses to the net debit. • Enable trader to book profit even if underlying asset stays stagnant. • If the market trends reverse, cashing in from stock price movement at limited risk.