Option Play Book - Long Call Iron Butterfly

The speaker discusses a variation of the butterfly spread known as the Iron Butterfly, or the Diamond butterfly.  To initiate the strategy you will buy 1 call, sell 2 calls further out of the money and buy 1 call even further out of the money.  This options strategy involves buying an equal number of long and short options.  The strategy is best utilized when the trader believes that the stock will only climb up to a certain point and stop.

Risk, breakeven points, and profit potential are also covered by the speaker in this video.