Modified Butterfly
Customized butterfly with modified risk/reward profile.
Expert
Market Outlook
neutral
Family
multi-leg
Capital Req
high
Risk Profile
low
Strategy Overview
Key characteristics and when to use
Structure
Buy 1 Call + Sell 2 Calls + Buy 1 Call (Different Ratios)
Greek Profile
Modified delta profile, positive theta
Characteristics
DebitNeutralExpertModified
Profit & Loss Formulas
Mathematical breakdown
Max Profit
Complex (depends on modifications)
Max Loss
Net debit paid
Breakeven
Multiple complex points