Broken Wing Butterfly
Butterfly with intentional asymmetric wings.
Advanced
Market Outlook
neutral
Family
multi-leg
Capital Req
medium
Risk Profile
medium
Strategy Overview
Key characteristics and when to use
Structure
Asymmetric Butterfly (Uneven Wings)
Greek Profile
Near delta neutral, positive theta, mixed vega
Characteristics
CreditNeutralAdvancedSkewed
Profit & Loss Formulas
Mathematical breakdown
Max Profit
Variable (depends on wing configuration)
Max Loss
Net debit paid
Breakeven
Multiple points based on asymmetry