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October 18th, 2012 at 9:04 am
GOOG: Phil, I see your GOOG play this morning (the two offsetting call and put spreads) is essentially a butterfly with a 755 center. Conceptually I can see that by doing it in two spreads it makes it more intuitive for managing or rolling the losing side. I trade quite a few butterflies and almost always treat them as a combined trade, and like you say, target just a quick 10-20%. But I'm just curious to know why you don't call it, trade it, like a butterfly. Thanks.