Iron Butterfly

Heavy psychedelic band

Iron Butterfly names two unrelated things.

In options trading, an iron butterfly is a strategy combining four options contracts at three strike prices to profit from low volatility—the trader bets the underlying asset will stay near a middle price.

Separately, Iron Butterfly was an American rock band best known for the 1968 song "In-A-Gadda-Da-Vida."

1960s

counterculture

Rejection of mainstream values

Vietnam War · acid rock · Sunset Strip · psychedelia · underground · garage rock · British Invasion · FM radio · head shops · love-ins

band

In-A-Gadda-Da-Vida

Lengthy 1968 psychedelic instrumental

heavy · drummer · keyboardist · guitarist · bassist · vocals · albums · tours · concerts · reunion

psychedelic

In-A-Gadda-Da-Vida

Lengthy 1968 psychedelic instrumental

surreal · acid rock · organ · drone · hypnotic · extended jam · improvisation · distortion · reverb · feedback

options

spread

To distribute widely

expiration · volatility · premium · derivatives · breakeven · hedge

Opposites
options trading strategy structure

Iron Butterflystraddle

Sit with legs spanning

strangle

volatility expectation

Iron Butterflybackspread

Long-biased options position

Family

iron, irons, ironed, ironing, irony, butterfly, butterflies

Familiarity
Top 500,000
Profile
Mostly American · Timeless · Concrete · Rated G