IRON BUTTERFLY	BULL CALENDER SPREAD
About Strategy	Iron Butterfly Option Strategy  This strategy is implemented when a trader is bearish on the volatility of market and neutral on the market movements. A trader will buy 1 OTM Put Option, sell 1 ATM Put Option, sell 1 ATM Call Option, buy 1 OTM Call Option. Due to offsetting of long and short positions, this strategy bags limited profit with limited risk. 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..

IRON BUTTERFLY Vs BULL CALENDER SPREAD - Details

	IRON BUTTERFLY	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	4	2
Strategy Level	Advance	Beginners
Reward Profile	Limited	Unlimited
Risk Profile	Limited	Limited
Breakeven Point	Upper Breakeven Point = Strike Price of Short Call + Net Premium Received, Lower Breakeven Point = Strike Price of Short Put - Net Premium Received	Stock Price when long call value is equal to net debit.

IRON BUTTERFLY Vs BULL CALENDER SPREAD - When & How to use ?

	IRON BUTTERFLY	BULL CALENDER SPREAD
Market View	Neutral	Bullish
When to use?	This strategy is implemented when a trader is bearish on the volatility of market and neutral on the market movements.	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	Buy 1 OTM Put, Sell 1 ATM Put, Sell 1 ATM Call, Buy 1 OTM Call	Sell 1 Near-Term OTM Call, Buy 1 Long-Term OTM Call
Breakeven Point	Upper Breakeven Point = Strike Price of Short Call + Net Premium Received, Lower Breakeven Point = Strike Price of Short Put - Net Premium Received	Stock Price when long call value is equal to net debit.

IRON BUTTERFLY Vs BULL CALENDER SPREAD - Risk & Reward

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

IRON BUTTERFLY Vs BULL CALENDER SPREAD - Strategy Pros & Cons

	IRON BUTTERFLY	BULL CALENDER SPREAD
Similar Strategies	Long Put Butterfly, Neutral Calendar Spread	The Collar, Bull Put Spread
Disadvantage	• Large commissions involved. • Probability of losses are higher.	• 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	• Less amount of capital investment, steady income with low risk. • Traders can predict maximum loss and profit. • Versatile strategy, investors can transform position into bear call spread or bull put spread easily.	• 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.