Y'all. I'm toying with broken wing butterflies (skip strike butterflies) as I have a bullish thesis on UPST right now. This is for next week and the graphic explains it, but I'm trying to get fills on broken put flies (break the low side) which would risk a max loss of $400 to potentially gain $3K plus in a jackpot situation. But, if the price moves too bullish, worst case scenario then is you keep the credit you've taken in on the placing of the trade.
Stats below if anyone wants to follow: This is for 5 spreads, divide the totals by 5 to get the net per fly.
I
Update:Not getting fills but I'm going to let this play out a bit.
Stats below if anyone wants to follow: This is for 5 spreads, divide the totals by 5 to get the net per fly.
I
Update:Not getting fills but I'm going to let this play out a bit.