Directional bias toward narrow wing side with pin expectation at body
| Strategy Type | Modified Butterfly - Asymmetric Wings |
| Market Outlook | Directional bias toward narrow wing side with pin expectation at body |
| Risk Profile | Limited on narrow side, Substantial on wide wing side |
| Reward Profile | Maximum at body strike, Credit entry possible |
| Time Horizon | Best 0-3 DTE, primarily expiry day strategy |
| Capital Requirement | Credit entry possible, Max risk = Wide wing width - Credit |
| Best Used When | Expecting expiry pin at specific strike, have directional bias, want credit entry with defined max profit |
| Stock Options | Varies by stock |
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