Centre county Pennsylvania, USA | Broken Wing Butterfly is an interesting strategy. Attached chart shows associated premiums for Nov15 soybean 960 ATM straddle and 50 cent OTM puts and calls. Sell the ATM straddle and buy the OTM puts and calls. That should qualify for a broken wing butterfly, except that only 1x put was used?
 (Nov15_soybean_broken_butterfly_straddle.png)
Attachments
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 Nov15_soybean_broken_butterfly_straddle.png (112KB - 42 downloads)
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Talk me through this bean play.
