211: Iron Butterfly Strategy - 8 Tips Before Your Next Trade
The Option Alpha Podcast
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How to Adjust Your Iron Butterfly Position
One of the ways that you can adjust your iron butterfly is to roll up or roll down the unchallenged side, the side that the stock is moving away from. We always have to pay for the width of the inversion out of our credit. The key for rolling contracts is you never want to pay money to extend the time. That doesn't make any sense. You're paying money which would increase the risk in the position.
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