#Earnings For the Iron Butterfly, your max loss is small if the Stock moves up or down too much for your trade to work. With expiration on Friday, we have 4 days for price to settle back to 170 giving us max profit. Right now, the trade is closable for breakeven. It is okay to do that, but in my view isn’t the point… you accepted the small max risk and should be okay taking that loss on Friday is we don’t return to 170. IB’s are thread-the-needle type trades that require patience.

I am waiting and watching for a cheaper exit between now and Friday’s close.