In March 2025, I was interviewed by John Einer Sandvand for his ThetaProfits.com YouTube channel. This 21 Day Broken Wing Butterfly video is the second video I’ve done with him. He’s done really well with his channel and has interviewed some amazing guests, and I am honored that he included me.
The Broken Wing Butterfly video is based on the trade featured on this site in a couple of places: The original page on the 21 Day Broken Wing Butterly, and the follow up post on the big 500% wins I had on the trade in 2020 and 2021.
Those pages have the details of the trade, and I’ll let them speak for themselves. But as a brief refresher, here is the profit profile of the trade:
Thanks to all who have watched the video and come to look around at this site as a result. As I mentioned in the video, the pages on the 21 Day Broken Wing Butterfly trade are consistently the most popular pages on this website- I’ve never understood why, considering that I have written content on so many more common option trading strategies.
I’ve received a few questions about the use of stop losses that I mentioned in the video along with probabilities. If you read the original write-up, you’ll see that I’m not generally a big fan of stop losses but they can be a useful tool. Over time, this trade actually wins greater than 80% of the time if allowed to continue. However, during extended bear markets like in 2022, the win rates were less, especially if stop losses were employed. For those trying to figure out how different management strategies compare, one thing that many analyzing traders forget is that this trade doesn’t always end at max profit or max loss. Sometimes it ends up in between, and that doesn’t make for easy calculations.
What I can say is that this trade does very well in bull markets, and does poorly in true bear markets. So, the majority of the time, this trade can get great returns. But always have a plan for how to manage when the market turns.
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