Track Your Broken Wing Butterfly with OptionsEdge
Stop guessing whether your broken wing butterfly is actually profitable. OptionsEdge auto-groups your fills, tracks true cost basis across rolls, and shows strategy-level P&L — so you know exactly where your edge is.
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The tracking problem
Why tracking your broken wing butterfly is harder than it looks
Difficulty in managing complex strategies
Higher risk on one side of trades
Adapting to changing market conditions
Need for precise execution around short strikes
Maintaining adequate projection on volatility changes
Overestimating profit potential
What matters
Key metrics to journal for your broken wing butterfly
These are the numbers that actually tell you if your strategy has edge
Net credit or debit received when opening the position
Breakeven points — asymmetric due to the unequal wing widths
Maximum profit zone and how close the underlying stayed to the short strike
Implied volatility at entry vs. realized volatility during the trade
Wing width differential — how the skip strike affects your risk/reward profile
Adjustment history — when and why you rolled or closed the wider wing
Built for this strategy
How OptionsEdge tracks your broken wing butterfly
Auto-groups all three legs into a single broken wing butterfly position from individual fills
Tracks net credit/debit, max profit, max loss, and asymmetric breakeven points at a glance
Roll tracking preserves cost basis when you adjust the wider wing or roll to a new expiration
Strategy-level P&L separates broken wing butterfly performance from iron butterflies and other multi-leg trades
Import from ThinkorSwim or Tastytrade CSV — all three legs matched automatically from fills
Keep reading
Related guides
Start journaling your broken wing butterfly the right way
Import your first CSV free. No credit card. No API keys. Just upload your ThinkorSwim or Tastytrade export and see your broken wing butterfly positions organized in seconds.
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