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 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| GRMN | GRMN Leg 1 |
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Expiration Date
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Strike
Type
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| GRMN | GRMN Leg 2 |
Action
Qty
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Expiration Date
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Strike
Type
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Price
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Delta
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%
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| GRMN | GRMN Leg 3 |
Action
Qty
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Expiration Date
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Type
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Delta
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Trade Information
Long Call Butterfly
BUY +1 GRMN Dec 18, 2026 300.00 call @$3.80
SELL -2 GRMN Dec 18, 2026 280.00 call @$12.05
BUY +1 GRMN Dec 18, 2026 270.00 call @$18.65
Stock
GRMN Current Price
$280.20 USD
GRMN Breakeven Price
Below $291.65 (+4.09%)
Trade Details
Cost of Trade
-$165.00 USD
Maximum Profit
$1,162.50
Maximum Loss
-$835.00
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)