You've seen this one already in disguise — it's the shape from those two real MDB charts earlier. Now let's slow down and go through it properly: what it is, why traders like it, several full examples, and how to actually put one on. step1 point for max profit step2 step3 step4 result 1. What Makes It "Broken" A regular butterfly has two equal-width "wings" — the distance between the lower strike and the middle strike is the same as the distance between the middle strike and the upper strike. That symmetry means you take on roughly equal risk if the stock crashes or if it rallies. A broken wing butterfly (BWB) breaks that symmetry on purpose. You make one wing wider than the other. The result: No risk (or much smaller risk) on the wide-wing side All the risk concentrated on the narrow-wing side Often built for a much smaller cost than a regular butterfly — sometimes even a net credit (meaning you get paid to put the trade on) You're es...