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Ironbutterfly

PETRONET Iron Butterfly [4.4:1 Profit:Loss]The stock has been range bound between 250 and 280 since June. Without any external triggers, we expect it to trade within this range until July expiry Iron Butterfly is a neutral strategy whereby we profit as long as the stock remains within the strategy range Petronet Iron Butterfly i.ibb.co : Buy 1Lot 250 Put 30Jul ~ 6.25 Sell 1Lot 265 Put 30Jul ~ 15.45 Sell 1Lot 265 Call 30Jul ~ 5.25 Buy 1Lot 280 Call 30Jul ~ 2.2 Breakeven at expiry : 252.8, 277.2 Which means we profit as long as Petronet closes anywhere between 252.9 and 277.2 at expiry. Therefor, use these 2 levels as stoploss and close out respective individual strategy leg if the stock breaks out or breaks down Credit Received : 36750 Max Profit at Expiry : 36750 Max Loss at Expiry : 8250 Max Profit:Loss 4.4:1 Strategy Diagram and other details present in the image link attached i.ibb.co This is just my 2 cents on the stock. Please trade cautiously and at your own risk Happy Trading!
NSE:PETRONET
by thewayofknowing

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