Track Your Iron Butterfly with OptionsEdge
Stop guessing whether your iron 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.
No credit card · Import your first CSV in seconds
The tracking problem
Why tracking your iron butterfly is harder than it looks
Limited profit potential
Risk of assignment
Requires precise market movement expectation
Dependence on implied volatility
Understanding risk management in tight market conditions
Navigating time decay impact on profit potential
What matters
Key metrics to journal for your iron butterfly
These are the numbers that actually tell you if your strategy has edge
Net credit received when opening the iron butterfly
Maximum profit zone — the range around the short strike where you profit
Wing width and how it affects risk/reward ratio
Breakeven points — short strike plus and minus the net credit received
Greeks exposure — delta, gamma, and theta at entry and through the trade
Adjustment history — rolling wings or closing one side to manage risk
Built for this strategy
How OptionsEdge tracks your iron butterfly
Auto-groups all four legs (short straddle + long wings) into a single iron butterfly position
Tracks net credit, max profit, max loss, and breakeven points at a glance
Roll tracking preserves cost basis when you adjust wings or roll to a new expiration
Strategy-level P&L separates iron butterfly performance from iron condors and other multi-leg trades
Import from ThinkorSwim or Tastytrade CSV — all four legs matched automatically from fills
Keep reading
Related guides
Start journaling your iron 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 iron butterfly positions organized in seconds.
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