Put Broken Wing Calculator

Search a symbol to visualize the potential profit and loss for a put broken wing option strategy.

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What is a put broken wing?

BullishLimited ProfitLimited Loss

Similar to a put butterfly spread, but with a slightly bullish bias. It has a higher chance of profit and removes risk from one side. Time is generally harmful, except when it is profitable near strike B.

(also known as: Skip Strike Butterfly)
ABCProfitLossStock Price (at expiration)
  • Buy a put at strike A
  • Sell two puts at strike B
  • Buy a put at strike C