Ruy López Opening: Morphy Defense, Exchange Variation
The Exchange variation of the Ruy Lopez involves White meeting Black's most common defense 3...a6 by 4.Bxc6 (instead of the more common retreat 4.Ba4). This doubles Black's pawns, but also gives him the two bishops.
Pros:
- White has a kingside majority
- White tends to gain space in the center with a subsequent d2-d4
- The game becomes and unbalanced endgame where experience usually wins
Cons:
- Black gets the two bishops
- White's position can become vulnerable on the light squares
- Black gets a useful open file in the center after 4...dxc6.