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In finance, a butterfly (or simply fly) is a limited risk, non-directional options strategy that is designed to have a high probability of earning a limited profit when the future volatility of the underlying asset is expected to be lower (when long the butterfly) or higher (when short the butterfly) than that asset's current implied volatility.
Read the full article →Not who you're looking for? Others named butterfly: group of insects in the order Lepidoptera · 2001 song by Kylie Minogue · 2005 song by Kumi Koda · one-design sailing dinghy