tag:blogger.com,1999:blog-4049167043965640947.post8287644131639178152..comments2022-06-05T13:28:32.605-07:00Comments on Option Trading: 08/13 MNX Iron Butterfly - SEP *New*Gustavo's Tradeshttp://www.blogger.com/profile/10318651374855413975noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-4049167043965640947.post-71051109431637586472009-08-18T11:04:46.070-07:002009-08-18T11:04:46.070-07:00Thanks again!Thanks again!Genenoreply@blogger.comtag:blogger.com,1999:blog-4049167043965640947.post-72412399904860007822009-08-14T16:54:26.922-07:002009-08-14T16:54:26.922-07:00I thought I had a comment from Gene regarding the ...I thought I had a comment from Gene regarding the extra Long Call. I thought I published, but somehow it isn't there. <br /><br />Anyway, Yes, the extra long call is to hedge the deltas. Cut it in half to be exact. <br /><br />When you first set up the Iron Butterfly, it is quite bearish, to avoid taking a directional stance, I buy 1 extra call to cut the delta in 1/2 from the get go.<br /><br />Hope that helps,<br />GustavoGustavo's Tradeshttps://www.blogger.com/profile/10318651374855413975noreply@blogger.com