什么双蝴蝶？
双蝶是一种期权交易策略，涉及同时买卖四种不同的期权合约以创建特定的收益结构。 6park.com
要执行双蝶式交易，期权交易者将： 6park.com
买入一份执行价格较低的看涨期权 (K1)
以中间执行价 (K2) 卖出两个看涨期权
买入一份执行价格较高的看涨期权 (K3)
对看跌期权重复相同的过程
双蝶策略的收益图看起来像并排放置的两个蝴蝶价差，因此得名“双蝶”。 该策略的盈亏潜力取决于交易者选择的行使价以及为每份期权合约支付和收取的权利金。 6park.com
双蝶策略是一种中性至略微看跌的策略，这意味着它旨在在标的股票价格保持相对持平或略有下跌时获利。 如果股价在任何一个方向上都走得太远，该策略可能会导致亏损。 6park.com
期权交易涉及重大风险和复杂性，双蝶形策略只能由对所涉及的潜在风险和回报有透彻了解的经验丰富的期权交易者执行 6park.com
what the double butterfly? 6park.com

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The double butterfly is an options trading strategy that involves buying and selling four different options contracts at once to create a specific payoff structure.
To execute a double butterfly, an options trader would:
Buy one call option with a lower strike price (K1)Sell two call options with a middle strike price (K2)Buy one call option with a higher strike price (K3)Repeat the same process with put options
The resulting payoff diagram of a double butterfly strategy looks like two butterfly spreads placed side by side, hence the name "double butterfly". The profit and loss potential of the strategy depends on the strike prices chosen by the trader and the premiums paid and received for each option contract.
The double butterfly strategy is a neutral to slightly bearish strategy, meaning it is designed to profit if the underlying stock price stays relatively flat or declines slightly. If the stock price moves too far in either direction, the strategy may result in losses.
Options trading involves significant risks and complexities, and the double butterfly strategy should only be executed by experienced options traders who have a thorough understanding of the potential risks and rewards involved. 6park.com