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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| KMX | KMX Leg 1 |
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Expiration Date
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| KMX | KMX Leg 2 |
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Qty
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Expiration Date
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Type
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Delta
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| KMX | KMX 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 KMX Dec 18, 2026 60.00 call @$1.48
SELL -2 KMX Dec 18, 2026 55.00 call @$2.83
BUY +1 KMX Dec 18, 2026 50.00 call @$5.40
Stock
KMX Current Price
$52.41 USD
KMX Breakeven Price
Between $51.22 and $58.78
Trade Details
Cost of Trade
$122.00 USD
Maximum Profit
$375.92
Maximum Loss
-$122.00
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)