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.
Upgrade to unlock advanced probability and risk metrics.
Options
| Action | Qty | Expiration Date | Strike | Type | Price | Delta | IV | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DUOL | DUOL Leg 1 |
Action
Qty
|
Expiration Date
|
|
Strike
Type
|
Price
|
|
Delta
|
IV
%
|
|
|
|||||
| DUOL | DUOL Leg 2 |
Action
Qty
|
Expiration Date
|
|
Strike
Type
|
Price
|
|
Delta
|
IV
%
|
|
|
|||||
| DUOL | DUOL Leg 3 |
Action
Qty
|
Expiration Date
|
|
Strike
Type
|
Price
|
|
Delta
|
IV
%
|
|
|
Trade Information
Long Call Butterfly
BUY +1 DUOL Dec 11, 2026 175.00 call @$4.35
SELL -2 DUOL Dec 11, 2026 160.00 call @$9.30
BUY +1 DUOL Dec 11, 2026 148.00 call @$16.20
Stock
DUOL Current Price
$158.00 USD
DUOL Breakeven Price
Between $149.95 and $170.05
Trade Details
Cost of Trade
$195.00 USD
Maximum Profit
$1,005.00
Maximum Loss
-$495.00
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)