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211: Iron Butterfly Strategy - 8 Tips Before Your Next Trade
The Option Alpha Podcast
What Is an Iron Butterfly Strategy?
An iron butterfly strategy is simply a multi leg which just means that you're trading multiple types of options in the same strategy. It's a multi leg risk defined, which means that you can cap your risk. Iron butterflies are set up so that you're selling options near or at the money. So if you want to see that, have it as a reference point for yourself moving forward later.
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