LONG CALL LADDER	SHORT PUT BUTTERFLY
About Strategy	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 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..

LONG CALL LADDER Vs SHORT PUT BUTTERFLY - Details

	LONG CALL LADDER	SHORT PUT BUTTERFLY
Market View	Neutral	Neutral
Type (CE/PE)	CE (Call Option)	PE (Put Option)
Number Of Positions	3	4
Strategy Level	Advance	Advance
Reward Profile	Unlimited	Limited
Risk Profile	Unlimited	Limited
Breakeven Point	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	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

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

	LONG CALL LADDER	SHORT PUT BUTTERFLY
Market View	Neutral	Neutral
When to use?	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.	In Short Put Butterfly strategy, a trader is neutral in nature and expects the market to remain range bound in the near future.
Action	Buy 1 ITM Call, Sell 1 ATM Call, Sell 1 OTM Call	Sell 1 ITM Put, Buy 2 ATM Put, Sell 1 OTM Put
Breakeven Point	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	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

LONG CALL LADDER Vs SHORT PUT BUTTERFLY - Risk & Reward

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

LONG CALL LADDER Vs SHORT PUT BUTTERFLY - Strategy Pros & Cons

	LONG CALL LADDER	SHORT PUT BUTTERFLY
Similar Strategies	Short Strangle (Sell Strangle), Short Straddle (Sell Straddle)	Short Condor, Reverse Iron Condor
Disadvantage	• Unlimited risk. • Margin required.	• 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.
Advantages	• Reduces capital outlay of bull call spread. • Wider maximum profit zone. • When there is decrease in implied volatility, this strategy can give profit.	• Benefits from time decay. • Traders can earn more in a rising or range bound scenario. • Benefits from a surge in volatility.