Iron Butterfly (ATM Credit Spread)

Hypothetical Options Strategy - As of 2026-03-06 Black-Scholes Model

Credit Received

$332,530.03

Cost to Close

$363,973.01

Total P&L

$-31,442.98

Return

-9.46%

Positions

Positions by Stock (8 stocks, 14 entries)

EMN Eastman Chemical Company Materials 📈 📊 🔍

Current: $70.75

Credit: $29,275.61 Value: $36,777.41 P&L: $-7,501.81 (+0.0%)

Entry	Date	Held	Stock Price	Strikes (ATM/Wings)	Breakeven (Low/High)	Contracts	Credit	P&L	Expiry
#1	2026-02-20 consolidating	14d	$79.16 Now -10.6%	$79.16 (ATM) $75 / $83	$76.20 $82.12	99	$29,275.61	$-7,501.81 (-25.6%) Black-Scholes	16d Outside

NUE Nucor Corporation Materials 📈 📊 🔍

Current: $168.43

Credit: $29,019.89 Value: $31,861.49 P&L: $-2,841.60 (+0.0%)

Entry	Date	Held	Stock Price	Strikes (ATM/Wings)	Breakeven (Low/High)	Contracts	Credit	P&L	Expiry
#1	2026-03-02 consolidating	4d	$180.57 Now -6.7%	$180.57 (ATM) $172 / $190	$173.82 $187.32	43	$29,019.89	$-2,841.60 (-9.8%) Black-Scholes	26d Outside

IFF International Flavors & Fragra Materials 📈 📊 🔍

Current: $73.89

Credit: $39,105.78 Value: $41,379.42 P&L: $-2,273.64 (+0.0%)

Entry	Date	Held	Stock Price	Strikes (ATM/Wings)	Breakeven (Low/High)	Contracts	Credit	P&L	Expiry
#1	2026-02-25 consolidating	9d	$79.88 Now -7.5%	$79.88 (ATM) $76 / $84	$76.70 $83.06	123	$39,105.78	$-2,273.64 (-5.8%) Black-Scholes	21d Outside

DD DuPont de Nemours, Inc. Materials 📈 📊 🔍

Current: $45.47

Credit: $43,207.53 Value: $46,791.11 P&L: $-3,583.58 (+0.0%)

Entry	Date	Held	Stock Price	Strikes (ATM/Wings)	Breakeven (Low/High)	Contracts	Credit	P&L	Expiry
#1	2026-02-26 consolidating	8d	$50.35 Now -9.7%	$50.35 (ATM) $48 / $53	$48.30 $52.40	211	$43,207.53	$-3,583.58 (-8.3%) Black-Scholes	22d Outside

MLM Martin Marietta Materials, Inc Materials 📈 📊 🔍

Current: $612.22

Credit: $42,159.70 Value: $45,575.56 P&L: $-3,415.86 (+0.0%)

Entry	Date	Held	Stock Price	Strikes (ATM/Wings)	Breakeven (Low/High)	Contracts	Credit	P&L	Expiry
#1	2026-02-27 consolidating	7d	$676.57 Now -9.5%	$676.57 (ATM) $643 / $710	$648.69 $704.45	5	$13,940.60	$-903.14 (-6.5%) Black-Scholes	23d Outside
#2	2026-02-23 consolidating	11d	$683.60 Now -10.4%	$683.60 (ATM) $649 / $718	$655.43 $711.77	5	$14,084.95	$-1,170.60 (-8.3%) Black-Scholes	19d Outside
#3	2026-02-20 consolidating	14d	$685.94 Now -10.7%	$685.94 (ATM) $652 / $720	$657.67 $714.21	5	$14,134.15	$-1,342.12 (-9.5%) Black-Scholes	16d Outside

CF CF Industries Holdings, Inc. Materials 📈 📊 🔍

Current: $118.27

Credit: $48,060.45 Value: $56,627.34 P&L: $-8,566.89 (+0.0%)

Entry	Date	Held	Stock Price	Strikes (ATM/Wings)	Breakeven (Low/High)	Contracts	Credit	P&L	Expiry
#1	2026-02-26 consolidating	8d	$97.16 Now +21.7%	$97.16 (ATM) $92 / $102	$93.13 $101.19	40	$16,134.08	$-2,621.39 (-16.2%) Black-Scholes	22d Outside
#2	2026-02-24 consolidating	10d	$96.11 Now +23.1%	$96.11 (ATM) $91 / $101	$92.12 $100.10	40	$15,966.46	$-2,785.86 (-17.4%) Black-Scholes	20d Outside
#3	2026-02-17 consolidating	17d	$93.79 Now +26.1%	$93.79 (ATM) $89 / $98	$89.90 $97.68	41	$15,959.91	$-3,159.64 (-19.8%) Black-Scholes	13d Outside

MOS Mosaic Company (The) Materials 📈 📊 🔍

Current: $26.78

Credit: $50,272.66 Value: $52,597.82 P&L: $-2,325.15 (+0.0%)

Entry	Date	Held	Stock Price	Strikes (ATM/Wings)	Breakeven (Low/High)	Contracts	Credit	P&L	Expiry
#1	2026-02-20 consolidating	14d	$29.43 Now -9.0%	$29.43 (ATM) $28 / $31	$28.20 $30.66	205	$25,135.53	$-1,134.51 (-4.5%) Black-Scholes	16d Outside
#2	2026-02-18 consolidating	16d	$29.44 Now -9.0%	$29.44 (ATM) $28 / $31	$28.21 $30.67	205	$25,137.14	$-1,190.65 (-4.7%) Black-Scholes	14d Outside

DOW Dow Inc. Materials 📈 📊 🔍

Current: $33.78

Credit: $51,428.41 Value: $52,362.86 P&L: $-934.45 (+0.0%)

Entry	Date	Held	Stock Price	Strikes (ATM/Wings)	Breakeven (Low/High)	Contracts	Credit	P&L	Expiry
#1	2026-03-03 consolidating	3d	$30.74 Now +9.9%	$30.74 (ATM) $29 / $32	$29.45 $32.03	199	$25,655.32	$-1,067.88 (-4.2%) Black-Scholes	27d Outside
#2	2026-02-17 consolidating	17d	$31.42 Now +7.5%	$31.42 (ATM) $30 / $33	$30.11 $32.73	196	$25,773.09	$+133.43 (+0.5%) Black-Scholes	13d Outside