Hi guys, I'm new to options trading. I'm looking at the October 15 expiring 270/ 290/330 broken wing butterfly for UPST with calls. This is a credit spread. The mid is -1. The max payout is $1960 and the max loss is $2040.
The current price of UPST is $266.52.
Would you say a broken wing butterfly credit spread is better than a bull put spread? With a broken wing butterfly, you receive a credit AND you can make money if the lower leg long call is ITM.
So, in theory, you could make $100 credit plus $1960 if the stock reaches 290 at expiration.
What do you guys think?
Thanks
The current price of UPST is $266.52.
Would you say a broken wing butterfly credit spread is better than a bull put spread? With a broken wing butterfly, you receive a credit AND you can make money if the lower leg long call is ITM.
So, in theory, you could make $100 credit plus $1960 if the stock reaches 290 at expiration.
What do you guys think?
Thanks
