I’ve heard of butterflies referred to as vacation spreads before. I’m wondering if anyone has any experience with them. I absolutely hate holiday weeks for weekly options trades–never once had a winning week, so that keeps me out of next week’s action. And the week after that, I’m leaving Thursday and through the third week of July.
Just a cursory look at using this strategy, I’m thinking I want to have a mix of net long and net short positions with expiry at least as far out as August….