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Iron Butterfly

Iron Butterfly		A 4-leg option strategy using calls and puts together.

Related Terms
		Butterfly Spread A 3-leg option strategy using all calls or all puts. ... Calendar Spread Applying to derivative products, a strategy in which there is a simultaneous purchase and sale of options of the same class ... Guts Spread An expensive strategy where the trader buys OTM calls and puts to replicate the risk profile of a Strangle. Far cheaper to ...

 

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