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Butterfly Spreads Explained: Setup, Management & Risks (Advanced Options)
Learn butterfly spread selection, liquidity, strike choice, placement and management using thinkorswim; pros, cons and related multi-leg strategies.
Editorial companion
What stands out
Brent Moors used the August Schwab webcast to walk traders through butterfly spreads, showing live strike selection, liquidity checks, and order placement in thinkorswim. That matters because Schwab is teaching clients to execute multi-leg option strategies that both help manage risk and increase trading activity that can translate into revenue. Against a backdrop of headline volatility from oil pipeline disruptions and rotating equity markets, practical options education is a reminder that client engagement and trading volumes can rise even when the market feels uneasy.