FAANG NFLX Options Trade Broken Wing 🦋 Butterfly Posted on January 30, 2023February 5, 2023 By Jerry 3 Comments on FAANG NFLX Options Trade Broken Wing 🦋 Butterfly Investing, Options FAANG NFLX Options Trade. Originally, I put in a Broken Wing Butterfly on this NFLX FAANG Options trade, following the great master options trader, Tony Batista. The idea with this FAANG trade on NFLX is that you can’t lose any money to the downside, you can make up to $600 if it lands at the tip, and a max loss of $400 if it goes beyond 400. It cost me $100 to enter, has a 75% POP and a 84% P50. Not bad! A couple days later, Netflix moves from 365 to 363 Tony mentions that he’s rolled the long call down from 405 to 400. He mentions he’s made about $15 and this trade now has no risk. The latest P&L profile shows that it’s going to make a max of $772, and worse case scenario has a–what 100% chance of making $272, minus the $81 debit I paid to roll down the call side. Just need to sit pretty for 46 more days and… wait.