Opening a 14 DTE iron butterfly on ES.
Orders (4)
| Operation | Option type | Strike | Price | Amount |
|---|---|---|---|---|
| SELL | CALL | 7560 | 78.45 | 10 |
| SELL | PUT | 7560 | 70.95 | 10 |
| BUY | CALL | 7710 | 16.03 | 10 |
| BUY | PUT | 7410 | 31.55 | 10 |
Profit/Loss chart
At expiration
Mark-to-market (model)
5%
150%
0
15
The smooth curve uses Black–Scholes (European-style, flat rate); adjust IV and time to explore sensitivity. Does not model dividends or early exercise.
1%
100%
Increases or decreases the price range on the chart for better overview
0
0