#Earnings #CallButterfly $UAL is not a big mover on earnings. There is high Open Interest at the 80 put and call strike. Chart mildly bullish. So this butterfly profits best if we end the week at 80. Max loss is only the cost of the spread, .40. Max gain 1.60.
Bought to Open $UAL July 21st 78/80/82 call butterflys for .40. Biggest UP move: 4.5%, Biggest DOWN move: -4.3%, Average move: 1.6%. Breakevens at 78.40 and 81.60.