The Long Call Butterfly is an options strategy designed for situations where the investor has a neutral outlook on the market's direction and anticipates reduced volatility. This strategy is implemented by selling two "at-the-money call options"(middle strike price), purchasing one "out-of-the-money call option"(higher strike price), and buying one "in-the-money call option"(lower strike price). The Long Call Butterfly is similar to a Short Straddle but with a key distinction: the investor's potential losses are capped. The strategy is profitable if the underlying asset price stays near the middle strike price at expiration.