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 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FV | FV Leg 1 |
Action
Qty
|
Expiration Date
|
|
Strike
Type
|
Price
|
|
Delta
|
IV
%
|
|
|
|||||
| FV | FV Leg 2 |
Action
Qty
|
Expiration Date
|
|
Strike
Type
|
Price
|
|
Delta
|
IV
%
|
|
|
|||||
| FV | FV Leg 3 |
Action
Qty
|
Expiration Date
|
|
Strike
Type
|
Price
|
|
Delta
|
IV
%
|
|
|
Trade Information
Long Call Butterfly
BUY +1 FV Dec 18, 2026 79.00 call @$0.78
SELL -2 FV Dec 18, 2026 74.00 call @$1.23
BUY +1 FV Dec 18, 2026 72.00 call @$2.18
Stock
FV Current Price
$72.93 USD
FV Breakeven Price
Between $72.50 and $75.50
Trade Details
Cost of Trade
$50.00 USD
Maximum Profit
$148.75
Maximum Loss
-$350.00
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)