The "daily Call" From Option Alpha: Options Trading | Stock Options | Stock Trading | Trading Online

Hey everyone, Kirk here again at optionalpha.com and welcome back to the daily call. Today, we are going to be answering another user question and basically, actually, it’s a question that we get all the time, but we just recently got it from a user and that is how to create an iron butterfly on Thinkorswim’s platform. Thinkorswim and TD Ameritrade, that’s the platform that we've used for a long time, still the platform that we are going to use when we roll out our auto-trading software. We’ll be connecting directly with TOS and TD Ameritrade, so if you have a brokerage account there, you'll be eligible I guess to do the auto-trading. If you don't, you want to get a brokerage account there, head on over to optionalpha.com/TOS. Inside of Thinkorswim though, they don't have the ability to directly do an iron butterfly the way that we typically define an iron butterfly which is basically short strikes at the same strike price like a straddle, so basically it’s a synthetic straddle and then long strikes out on ei