Long Call Butterfly Option Screener

[Neutral | Limited Profit | Limited Loss] The long call butterfly options spread anticipates volatility to decrease and the underlying security to trade within a specific price range. The long call butterfly option strategy involves buying a call option, selling 2 call options, and buying a call option, all at equidistant higher strike prices. The long call butterfly strategy is a combination of a bull call and a bear call spread. Maximum loss is the difference between the premium paid for the long calls minus the premium received for the short calls (Net Debit). Maximum profit is the difference between the center and outer strike values minus the Net Debit. The long call butterfly strategy succeeds if the underlying security is trading within the range between the downside breakeven (lower strike + Net Debit) and upside breakeven (upper strike - Net Debit) at expiration. Maximum profit is achieved if the underlying security lands at the center strike price at expiration.