SHORT PUT BUTTERFLY	IRON CONDORS
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..	Iron Condors Option Strategy Iron Condor is a neutral trading strategy. A trader tries to make profit from low volatility in the price of the underlying asset. This strategy will be better understood if you recall ‘Bull Put Spread’ & ‘Bear Call Spread’. A trader will buy one Deep OTM Put Option and sell one OTM Put Option,. He will also sell one OTM Call Option and buy one Deep OTM Call Option. .. Read more..

SHORT PUT BUTTERFLY Vs IRON CONDORS - Details

	SHORT PUT BUTTERFLY	IRON CONDORS
Market View	Neutral	Neutral
Type (CE/PE)	PE (Put Option)	CE (Call Option) + PE (Put Option)
Number Of Positions	4	4
Strategy Level	Advance	Advance
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	Upper Breakeven Point = Strike Price of Short Call + Net Premium Received, Lower Breakeven Point = Strike Price of Short Put - Net Premium Received

SHORT PUT BUTTERFLY Vs IRON CONDORS - When & How to use ?

	SHORT PUT BUTTERFLY	IRON CONDORS
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.	When a trader tries to make profit from low volatility in the price of the underlying asset.
Action	Sell 1 ITM Put, Buy 2 ATM Put, Sell 1 OTM Put	Sell 1 OTM Put, Buy 1 OTM Put (Lower Strike), Sell 1 OTM Call, Buy 1 OTM Call (Higher Strike)
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	Upper Breakeven Point = Strike Price of Short Call + Net Premium Received, Lower Breakeven Point = Strike Price of Short Put - Net Premium Received

SHORT PUT BUTTERFLY Vs IRON CONDORS - Risk & Reward

	SHORT PUT BUTTERFLY	IRON CONDORS
Maximum Profit Scenario	Net Premium Received - Commissions Paid	Net Premium Received - Commissions Paid
Maximum Loss Scenario	Strike Price of Higher Strike Short Put - Strike Price of Long Put - Net Premium Received + Commissions Paid	Strike Price of Long Call - Strike Price of Short Call - Net Premium Received + Commissions Paid
Risk	Limited	Limited
Reward	Limited	Limited

SHORT PUT BUTTERFLY Vs IRON CONDORS - Strategy Pros & Cons

	SHORT PUT BUTTERFLY	IRON CONDORS
Similar Strategies	Short Condor, Reverse Iron Condor	Long Put Butterfly, Neutral Calendar Spread
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.	• Full of risk. • Unlimited maximum loss.
Advantages	• Benefits from time decay. • Traders can earn more in a rising or range bound scenario. • Benefits from a surge in volatility.	• Chance to gather double premium. • Sure, maximum gains on one-half the trade. • Flexible and double leverage at half price.