SHORT GUTS	LONG CALL LADDER
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..	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..

SHORT GUTS Vs LONG CALL LADDER - Details

	SHORT GUTS	LONG CALL LADDER
Market View	Neutral	Neutral
Type (CE/PE)	CE (Call Option) + PE (Put Option)	CE (Call Option)
Number Of Positions	2	3
Strategy Level	Beginners	Advance
Reward Profile	Limited	Unlimited
Risk Profile	Unlimited	Unlimited
Breakeven Point	Upper Breakeven Point = Net Premium Received + Strike Price of Short Call, Lower Breakeven Point = Strike Price of Short Put - Net Premium Received	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

SHORT GUTS Vs LONG CALL LADDER - When & How to use ?

	SHORT GUTS	LONG CALL LADDER
Market View	Neutral	Neutral
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 an extension to Bull Call Spread Strategy. A trader will be slightly bullish about the market, in this strategy but bearish over volatility.
Action	Sell 1 ITM Call, Sell 1 ITM Put	Buy 1 ITM Call, Sell 1 ATM Call, Sell 1 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	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

SHORT GUTS Vs LONG CALL LADDER - Risk & Reward

	SHORT GUTS	LONG CALL LADDER
Maximum Profit Scenario	Net Premium Received + Strike Price of Short Put - Strike Price of Short Call - Commissions Paid	Strike Price of Lower Strike Short Call - Strike Price of Long Call - Net Premium Paid - Commissions Paid
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	Price of Underlying - Upper Breakeven Price + Commissions Paid
Risk	Unlimited	Unlimited
Reward	Limited	Unlimited

SHORT GUTS Vs LONG CALL LADDER - Strategy Pros & Cons

	SHORT GUTS	LONG CALL LADDER
Similar Strategies	Short Strangle (Sell Strangle), Short Straddle (Sell Straddle)	Short Strangle (Sell Strangle), Short Straddle (Sell Straddle)
Disadvantage	• Unlimited potential loss if the underlying stock continues to move in one direction. • High margin required.	• Unlimited risk. • Margin required.
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.	• Reduces capital outlay of bull call spread. • Wider maximum profit zone. • When there is decrease in implied volatility, this strategy can give profit.