Jeff 10:31 am on Tuesday, January 31, 2017
Tags: Earnings ( 3,108 ), IronButterfly ( 141 )

AAPL iron butterfly

#Earnings Can’t choose whether to be bullish or bearish, and not liking OTM premium anyway, so going with a neutral ATM #IronButterfly that will have 3 days to find its center. Max risk .56

Sold to Open #$AAPL Feb 3rd 118/121/124 iron butterfly for 2.44.

geewhiz112 10:45 am on Tuesday, January 31, 2017

#earnings
I like neutral for its inherent lower risk.
Following your idea and have placed order for
$AAPL Feb 3rd 118/121/124 iron butterfly for 2.44

I had previously placed this bullish #earnings trade.
$AAPL 2/3/2017 122 call @ 1.93
thomberg1201 10:52 am on Tuesday, January 31, 2017

I followed at 2.45 thanks Jeff
- Bobbie 12:39 pm on Tuesday, January 31, 2017
  
  followed for 2.50cr
  - Bobbie 6:00 am on Wednesday, February 1, 2017
    
    Can you let an iron fly expire worthless? Thanks!
    - Jeff 6:06 am on Wednesday, February 1, 2017
      
      No, it is not possible. It would expire at max loss if price ends the day Friday outside of your wings (above 124 or below 118). The closest you can come to expiring worthless is if we end Friday at exactly 121.00. However, if you do not close your short 121 puts and calls, you will likely be assigned on one of them. So it would thus be necessary to close at least one of the shorts before expiration.
      
      I will be closing my short 121 puts this morning for as cheaply as possible, and then hope for a drop into Friday.

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