Using Directional Butterflies for Huge Profits

I love you options knowledge much much . thank you for your support . Please make videos on vertical spreads , bullish spread , bull put spread, bear put spread ..

Speaking of butterfly trades, I'd love for you to do a video on on the topics of "Unbalanced & Broken Wing Butterflies" and idea trade set-ups to use one or the other. Thanks in advance.

Ready to fly into profit on the wings of the butterfly. Informative and concise-- you created the sweet spot to garner viewed focus. Bravooooo!!!! Thank you for helping traders across the flat earth plane.

Over the years I've lost thousands with options trading, trying everything from selling far out-of-the-money calls and puts, to strangles, and iron condors etc.. They all eventually bite you in the ass. I accidentally stumbled on the directional butterfly a few months ago - and since then I've started to make money at last. This trade forces you to have a directional view of the market, and you will get better with this over time. But if you're wrong it doesn't take your jacket, and your car and maybe also your home.

Gav, did you sell or close that butterfly to get a profit before expiration? Or how that works?

I don’t see how anyone can trade these in this current market any longer than a week or two lol. I stick within a week and Been doing really well. Would not hold these longer unless I went bullish or bearish skewed

Can you use these to hedge a portfolio? Placing a bearish butterfly on say the spy or qqq

This is awesome thanks

I had a very bad experience with this strategy. If you could provide me some insight on what went wrong, will be greatly appreciated. On 6/28/21, I entered a call butterfly on MELI(trading 1570). Bought 1580, sold 1640 and bought 1700 for $600 debit for 8/20 expiry. The price went down a bit and was trading 1590-1640 on 7/28. I tried to close and it was showing a loss. Then it went down. I didn't realize the ER was on 8/5. Next day, it opened at 1675 and went to 1812. It was showing a huge loss. So, I spit it and sold 1590/1640 spread for 6K profit. Sold 1700 and bought 1630 to make 1630/1640 debit spread. to release the collateral. I think, I ended up losing 1K instead 6K (collateral for the short leg after the split). So, what went wrong here? why I couldn't sell it on 7/28 when it was trading below the sold strike? Broker couldn't answer.