SHORT PUT BUTTERFLY	BULL CALENDER SPREAD
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..	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..

SHORT PUT BUTTERFLY Vs BULL CALENDER SPREAD - Details

	SHORT PUT BUTTERFLY	BULL CALENDER SPREAD
Market View	Neutral	Bullish
Type (CE/PE)	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 Highest Strike Short Put - Net Premium Received, Lower Breakeven Point = Strike Price of Lowest Strike Short Put + Net Premium Received	Stock Price when long call value is equal to net debit.

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

	SHORT PUT BUTTERFLY	BULL CALENDER SPREAD
Market View	Neutral	Bullish
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.	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	Sell 1 ITM Put, Buy 2 ATM Put, Sell 1 OTM Put	Sell 1 Near-Term OTM Call, Buy 1 Long-Term OTM Call
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	Stock Price when long call value is equal to net debit.

SHORT PUT BUTTERFLY Vs BULL CALENDER SPREAD - Risk & Reward

	SHORT PUT 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 Higher Strike Short Put - Strike Price of Long Put - Net Premium Received + Commissions Paid	Max Loss = Premium Paid + Commissions Paid
Risk	Limited	Limited
Reward	Limited	Unlimited

SHORT PUT BUTTERFLY Vs BULL CALENDER SPREAD - Strategy Pros & Cons

	SHORT PUT BUTTERFLY	BULL CALENDER SPREAD
Similar Strategies	Short Condor, Reverse Iron Condor	The Collar, Bull Put 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.	• 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	• Benefits from time decay. • Traders can earn more in a rising or range bound scenario. • Benefits from a surge in volatility.	• 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.