Where is the stock trading and how many days till expiration in your proposed? It appears you are talking direction I'm guestimating the Fly has a delta apx < half of the Call,and if dead right on direction,the fly is a loser.. Details please
It was just a random example. Whats your opinion on buying outright calls/puts verses OTM flies for strictly directional bias?
What a difference a few days make! Gotta love the theta crush on flies. AUG23 16/17/18 Call Butterfly Pnl @ 16.93 (open) $80.69 Pnl @ 16.93 in 3 days $730 Look at the profit window @ expiry...all you have to do is pick where price will be a week from now? Why am I not doing these every week? It's like shooting fish in a barrel! $16.30 --> $100.00 $16.40 --> $200.00 $16.50 --> $300.00 $16.60 --> $400.00 $16.70 --> $500.00 $16.80 --> $600.00 $16.90 --> $700.00 $17.00 --> $800.00 $17.10 --> $700.00 $17.20 --> $600.00 $17.30 --> $500.00 $17.40 --> $400.00 $17.50 --> $300.00 $17.60 --> $200.00 $17.70 --> $100.00