NEUTRAL CALENDAR SPREAD	PUT BACKSPREAD
About Strategy	Neutral Calendar Spread Option strategy  This strategy is implemented if the trader is neutral in the near future for say 2 months or so. This strategy involves writing of Near Month 1 ATM Call Option and buying 1 Mid Month ATM Call Option, hence reducing the cost of purchase, with the same strike price of the same underlying asset. This strategy is used when the trader wants to make money from the Read more..	Put Backspread Option Strategy If the trader is bearish on market and bullish in volatility, he will implement this strategy. However the trader can be neutral in nature i.e. indifferent if the market moves in either of the direction, this strategy will make profits, but uptrend will give a capped income than downtrend which will give unlimited returns. Read more..

NEUTRAL CALENDAR SPREAD Vs PUT BACKSPREAD - Details

	NEUTRAL CALENDAR SPREAD	PUT BACKSPREAD
Market View	Neutral	Bearish
Type (CE/PE)	CE (Call Option)	PE (Put Option)
Number Of Positions	2	2
Strategy Level	Beginners	Advance
Reward Profile	Limited
Risk Profile	Limited
Breakeven Point	-

NEUTRAL CALENDAR SPREAD Vs PUT BACKSPREAD - When & How to use ?

	NEUTRAL CALENDAR SPREAD	PUT BACKSPREAD
Market View	Neutral	Bearish
When to use?	This strategy is implemented if the trader is neutral in the near future for say 2 months or so. This strategy involves writing of Near Month 1 ATM Call Option and buying 1 Mid Month ATM Call Option.
Action	Sell 1 Near-Term ATM Call, Buy 1 Long-Term ATM Call
Breakeven Point	-

NEUTRAL CALENDAR SPREAD Vs PUT BACKSPREAD - Risk & Reward

	NEUTRAL CALENDAR SPREAD	PUT BACKSPREAD
Maximum Profit Scenario	Maximum Profit Limited When underlying stock price remains unchanged on expiration of the near month options.
Maximum Loss Scenario	It occurs when the stock price goes down and stays down until expiration of the longer term options.
Risk	Limited	Limited
Reward	Limited	Unlimited

NEUTRAL CALENDAR SPREAD Vs PUT BACKSPREAD - Strategy Pros & Cons

	NEUTRAL CALENDAR SPREAD	PUT BACKSPREAD
Similar Strategies	Long Put Butterfly, Iron Butterfly
Disadvantage	• Lower profitability • Must have enough experience.
Advantages	• Almost zero margin required. • Ability to profit from time decay, limited risk. • This strategy allows you to transform position into long position.