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Unbalanced Butterfly Calculator
Butterflies & RatiosneutralDefined Risk
A butterfly-style spread with unequal contract quantities to tilt the payoff profile.
What Is a Unbalanced Butterfly?
A butterfly-style spread with unequal contract quantities to tilt the payoff profile. This strategy has a neutral outlook and defined risk.
Setup
BUY1x ATM CALL
SELL3x OTM1 CALL
BUY2x OTM3 CALL
Max Profit
Highest near the short strike, adjusted by net debit or credit
Max Loss
Defined by wing widths, quantities, and net premium
Breakeven
Depends on strikes, quantities, and net premium