Long Call Butterfly
A long call butterfly is an options strategy that is created by purchasing a call option at a lower strike price, selling two call options at a middle strike price, and purchasing another call option at a higher strike price, all with the same expiration date. This strategy is used when an investor believes that the underlying asset will stay within a certain price range until the options expire.
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Options
| Action | Qty | Expiration Date | Strike | Type | Price | Delta | IV | |||||||||
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| AAPL | AAPL Leg 1 |
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| AAPL | AAPL Leg 2 |
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| AAPL | AAPL Leg 3 |
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Trade Information
Long Call Butterfly
BUY +1 AAPL Dec 11, 2026 370.00 call @$3.13
SELL -2 AAPL Dec 11, 2026 355.00 call @$9.28
BUY +1 AAPL Dec 11, 2026 345.00 call @$16.00
Stock
AAPL Current Price
$356.66 USD
AAPL Breakeven Price
Between $345.57 and $364.43
Trade Details
Cost of Trade
$57.00 USD
Maximum Profit
$933.00
Maximum Loss
-$557.00
CVaR
Probability Analysis
Probability of Profit (PoP)
Probability of Max Profit
Probability of Max Loss
Risk Reward Analysis
Expected Value (EV)
Expected Return (EV/risk)
Reward/Risk
Position Greeks
Delta (Δ)
Gamma (Γ)
Theta (Θ)
Vega (ν)