Iron Fly Options Strategy | Selling Options for Income

The Iron Fly, or Iron Butterfly, is an another popular options selling strategy that puts time and volatility decay on your side. Today we'll be doing a full step-by-step tutorial of trading an iron fly, go over the max potential risk on the spread and discuss how you'll typically end up closing it. For those of you completely unfamiliar with what an Iron Fly is, it’s essentially an iron condor with the short call and put sharing a common strike. Another way to think of it would be as a short straddle with a long call and put acting as a hedge against a big move in either direction. ➤My Website: https://shortthestrike.com/ ➤ Open a tastyworks account: https://start.tastyworks.com/#/login?referralCode=PKSKCFVD2J ➤ Start Investing with M1 Finance: https://m1finance.8bxp97.net/151KXm Disclaimer: Some of these links go to one of my websites and some are affiliate links where I'll earn a small commission if you make a purchase at no additional cost to you.