S sunandaC Sunanda K. Chavan Oct 1, 2010 #1 LONG IRON BUTTERFLY Sell ATM Straddle – Buy OTM Strangle = Receive a credit SHORT IRON BUTTERFLY Buy ATM Straddle – Sell OTM Strangle = Total Debit LONG CONDOR Buy One + Sell One + Sell One + Buy One = Total Debit paid
LONG IRON BUTTERFLY Sell ATM Straddle – Buy OTM Strangle = Receive a credit SHORT IRON BUTTERFLY Buy ATM Straddle – Sell OTM Strangle = Total Debit LONG CONDOR Buy One + Sell One + Sell One + Buy One = Total Debit paid
