04-05-2019, 05:36 AM
(04-04-2019, 09:34 PM)NilesMike Wrote: Re TSLA, right now I'm leaning towards buying butterflies with a directional bias.
Tomorrow, looking to buy 17MAY19 , 260-265-255 all Put butterfly for a dime. Max profit $490. Will look to improve my odds by taking it off if it hits $125 profit.
Mike is getting fancy on us.
Does this involve four contracts, with two in the middle? Or is the double at $265 like you typed it? Or some other variation? I know there are a quite a few variations of a butterfly spread. Maybe you could explain it after you execute the trade?