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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| SCHG | SCHG Leg 1 |
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Expiration Date
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Strike
Type
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| SCHG | SCHG 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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IV
%
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| SCHG | SCHG Leg 3 |
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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IV
%
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Trade Information
Long Call Butterfly
BUY +1 SCHG Dec 18, 2026 38.00 call @$0.38
SELL -2 SCHG Dec 18, 2026 34.00 call @$1.13
BUY +1 SCHG Dec 18, 2026 33.00 call @$1.73
Stock
SCHG Current Price
$34.36 USD
SCHG Breakeven Price
Below $35.15 (+2.3%)
Trade Details
Cost of Trade
-$15.00 USD
Maximum Profit
$114.67
Maximum Loss
-$285.00
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)