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Short Iron Butterfly Screener

The Short Iron butterfly strategy is a 4-legged option spread that combines a short straddle and a long strangle. The Short Iron fly could also be viewed as a combination of a credit bull put spread and a short bear call spread. The strike differential is equidistant in that the long put and long call of the strangle are identically spaced from the straddle and all options have the same expiration. Max profit is observed if the underlying ‘pins’ the straddle (body) at expiration. Max loss is incurred If the underlying is trading outside of the lower put and upside call (wings).
Sat, May 18th, 2024
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