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Butterfly Pattern Articles


The Short Iron Butterfly - Alternative to the Straddle by Owen Trimball
This option trading strategy is pretty much the exact reverse of the Long Iron Butterfly. In contrast to the latter, where you are anticipating the underlying stock to remain within a trading range as a prerequisite to implementing the strategy, a Short Iron Butterfly can be considered when you believe a price breakout is imminent... READ MORE

Long Iron Butterfly Strategy - Two Credit Spreads Are Better Than One by Owen Trimball
The long iron butterfly is another range trading strategy and a variation of the Iron Condor. The difference between the two is the range of option strike prices used... READ MORE


Butterfly Spreads - Spread Your Wings and Profit by Owen Trimball
Butterfly spreads are one of the most well-known and popular option strategies out there today. Look for a range bound stock, put it on, and flutter your way to profits... READ MORE


Butterfly: Part VI by Josip Causic

Josip discusses Butterflies and Greeks, specifically how price affects Theta in a butterfly trade. This is the final article in the series on the topic of Butterflies... READ MORE


Butterfly: Part V by Josip Causic

Butterflies are a great option strategy for when you don't anticipate huge movement in a stock. In Part Five of his continuing series on Butterflies, Josip presents the steps involved in placing a Put Butterfly on TradeStation. This is the second to last article in this series… READ MORE


Butterfly: Part IV by Josip Causic

At expiry, the price of an underlying on a Butterfly trade can end up anywhere. Josip presents just 5 of the possible outcomes on the call Butterfly trade he has been covering for this series on Butterflies… READ MORE


Butterfly: Part III by Josip Causic

To follow-up his previous two articles about the option strategy known as the Butterfly, Josip looks in greater detail at the intricacies of a specific Call Butterfly that was previously placed… READ MORE


Butterfly: Part II by Josip Causic

In his second installation to his series on Butterfly Spreads, Josip walks us through placing a Call Butterfly spread step by step using the TradeStation platform… READ MORE


Butterfly: Part I by Josip Causic

The first in a series of several articles that will address in greater detail the option strategies known as Butterflies. In this one, I am trying to introduce the basic concept of a Butterfly without providing any specific examples… READ MORE