TOS Probability Analysis graph & Q's on butterfly

Hi All,

I enjoy this new thread to thank all the participants, I learned a lot and will continue this way thanks to your explanations.

I have 2 questions I cannot figure out:

The first one is related to the probability analysis of the TOS platform (see picture attached)

What does that mean? How can we use it to put a trade in place?

Second question is about butterfly.

What are the strategy to get out if the trade doesn't go the way we want? E.g. is a good idea to STC the positions in order to have a downside bias? Or to BTC for an upside one?


Thanks for your help, support & inputs


Paul
 

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