Strategy comparisons
Two strategies can look almost identical on a payoff chart and behave completely differently in a live market. These pages put the confusable pairs side by side — the legs, the Greeks, the margin, the failure modes — and explain what actually separates them.
Iron Condor vs Iron Butterfly
An Iron Condor sells a call spread and a put spread around a price range, so its profit is a plateau. An Iron Butterfly sells the call and put at the same…
Straddle vs Strangle
A Long Straddle buys the call and put at the same at-the-money strike; a Long Strangle buys separated out-of-the-money strikes. The straddle costs more (₹…
Bull Call vs Bull Put
A Bull Call Spread is a debit — you pay ₹162, and time and falling volatility work against you. A Bull Put Spread is a credit — you receive ₹98, and both …
Covered Call vs CSP
A Covered Call is long stock plus a short call; a Cash-Secured Put is a short put backed by cash. Put-call parity makes their payoffs the same — both cap …
Calendar vs Diagonal
A Calendar Spread sells and buys the same strike in two expiries; a Diagonal Spread uses different strikes across two expiries, adding a directional lean.…
Debit vs Credit Spread
A Debit Spread and a Credit Spread at the same strikes on opposite sides are near mirror images: width minus debit equals credit, before costs. Here each …
Buying vs Selling Options
Buying an option carries defined risk — the long call loses at most its ₹437 premium — with unlimited upside. Selling a naked call caps profit at ₹275 and…
Defined vs Undefined Risk
A Defined-risk position has its maximum loss capped by its own structure — a long leg caps a short one, so the payoff stops falling toward zero and toward…