Here's the 4th backtested butterfly I have done ....
This one was a fighter as we had craziness from the unemployment report that came out this morning as well as the fact that we're approaching a 3 day holiday weekend. This one took longer than expected to complete, but eventually-with patience and a few adjustments in my order prices, I completed the trade.
At 11:49am I entered as follows:
BOT BUTTERFLY NTES 100 JUN 08 20/22.5/25 CALL @.83 debit
At 3:40pm, I exited as follows:
SOLD BUTTERFLY NTES 100 JUN 08 20/22.5/25 CALL @1.06 credit
1.06-.83/.83= 27.7% ROI in a few hours!
Please note this is a paper trade.....
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