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Chapter 5. Sideways Strategies > Modified Put Butterfly

5.9. Modified Put Butterfly

ProficiencyDirectionVolatilityAsset LegsMax RiskMax RewardStrategy Type
+
   +   
ExpertBullishLow• Long PutCappedCappedCapital Gain
   • Two Short Puts   
   • Long Put   


5.9.1. Description

The Modified Put Butterfly is identical to the Long Put Butterfly with the exception that the distance between the middle and higher strike calls is closer than that of the lower and middle strikes. The Modified Put Butterfly is virtually identical to the Modified Call Butterfly.


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