butterfly options

[met1989]

why can't i buy a butterfly spread 2DTE with wings of .30 delta and every time the trades gets closer to the wings i extend the wings to that side and close the profitable wing ? like that I'm gonna end up in the money no ?

 

[Doobs789]

Have at it


(caveat emptor)

 

[drmark27]

why can't i buy a butterfly spread 2DTE with wings of .30 delta and every time the trades gets closer to the wings i extend the wings to that side and close the profitable wing ? like that I'm gonna end up in the money no ?

Backtest a couple years and see what you come up with.