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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
MUU MUU Leg 1
Action
Qty
Expiration Date
Strike
Type
Price
Delta
IV
%
MUU MUU Leg 2
Action
Qty
Expiration Date
Strike
Type
Price
Delta
IV
%
MUU MUU Leg 3
Action
Qty
Expiration Date
Strike
Type
Price
Delta
IV
%
±100%
to
       

Trade Information

Long Call Butterfly

BUY +1 MUU Dec 11, 2026 25.00 call @$0.90

SELL -2 MUU Dec 11, 2026 20.00 call @$2.10

BUY +1 MUU Dec 11, 2026 17.50 call @$3.25

Stock

MUU Current Price

$17.45 USD

MUU Breakeven Price

Below $22.55 (+29.23%)

Trade Details

Cost of Trade

-$5.00 USD

Maximum Profit

$254.90

Maximum Loss

-$245.00

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)