May 2012
Beginner
793 pages
20h 29m
English
book
Trading Commodities, Commodity Options and Currencies (Collection)
by Paul Brittain Carley Garner
Content preview from Trading Commodities, Commodity Options and Currencies (Collection)
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chapter 9Limited Risk Range Trades
By definition a butterfly is an option spread consisting of more than two different options, usually consisting of a combination of both long and short options. It actually resembles a butterfly, having a central “body” as well as “wings.”
An iron butterfly, sometimes referred to as a diamond butterfly, is an alternative to outright long option trading. It allows traders to enter the market with limited risk and provides a large range in which the trade returns a profit. We like to call this the profit playground.
Unlike outright long options or futures contracts, a diamond butterfly is capable of returning a profit in a market that is trading sideways. An iron butterfly consists of two long options ...
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