Broken-Wing Butterfly + Butterfly — Bot & Strategy

A bot that alerts two related structures — a long Butterfly (debit) and a Broken-Wing Butterfly (credit) — in the #broken-wing-butterfly channel, each alert tagged [Butterfly] or [BWB]. It is alert-only + paper-tracked (no live orders), and it builds the exact same structures the Options Scanner shows — from the one shared engine — so the website and the bot can't disagree.

Not financial advice. These are educational suggestions with defined-risk structures; you verify strikes, liquidity, and risk and decide for yourself.

Default universe: the ranked leaders list at 14 DTE — not 0DTE SPX. Flies and BWBs price and behave far better on names at a modest DTE (room for the pin to develop, tighter relative spreads) than on the 0DTE knife-edge. A debit fly costing more than 45% of its wing (poor risk/reward — the trap on 0DTE SPX) is skipped automatically (--max-debit-frac). You can still aim it anywhere with --tickers / --dte.

The two structures

	Butterfly (long)	Broken-Wing Butterfly
Net	Debit (you pay)	Credit (you receive)
Legs	Buy 1 / Sell 2 (body) / Buy 1 — symmetric wings	Buy near wing / Sell 2 (body) / Buy a wider far wing
Best case	Price pins the body near expiry	Price pins the body; the wide far wing removes risk on the near side
Risk	The small debit paid (defined)	The far-wing width minus the credit (defined)
Feel	A cheap pin bet — value blooms only near expiry	An income/credit structure — like a one-sided condor

TP / SL — how exits are decided

The bot and the scanner share one rule (option_structures.suggested_exits), so the TP/SL you see on a scanner card is the same one the bot manages to:

Butterfly (debit): TP +100% of the debit (close at ~2× what you paid), soft SL −50%. It's a pin bet with a small defined risk, so it's built to ride toward the pin rather than be stopped tight.
BWB (credit): TP 50% of the credit captured, SL 2× the credit as the loss cap. Taking profits early beats holding for the last dollar; if you do run it short-dated, the bot also flattens near the bell (--preclose-min).

All four multiples are adjustable (--debit-tp / --debit-sl / --credit-tp / --credit-sl).

Reading an alert

⚖️🦋 BROKEN WING BUTTERFLY | NVDA CREDIT      (+ company logo)
📊 NVDA — TA · FA · Ranks
Broker      Tradier
Strategy    Broken Wing Butterfly
Legs        Buy 180C / Sell 2x 195C / Buy 215C
Credit      $85
TP          $42
SL          $170
Expiry      2026-11-16
DTE         14DTE
Spot        $194.20
broken-wing-butterfly v0.1.0 | 🏷 leaders | Nov 16, 2026 09:35 AM EST

A colorful embed in the fleet format (same as db-alerts / strategy-picker): ansi‑colored aligned rows, a clickable 📊 Track‑One‑Stock link, the company logo as the thumbnail, and the shared footer. A CLOSE embed fires when the paper position hits TP, clears --profit-over, hits SL, or reaches the preclose — with its PnL.

How the bot runs (ops reference)

Mode	What it does
(default)	Scan the `leaders` list @ 14 DTE, build the structure, price it from the live chain, and alert (+ paper-track) if it clears the gates (R:R `--max-debit-frac`, plus opt-in `--min-credit` BWB / `--max-debit` fly).
`--signal`	Alert only — don't open a paper position.
`--check-4-closing`	Read-only survey: reprice every open position and show PnL vs its TP/SL.
`--settle-open`	Close positions that hit TP, clear `--profit-over PCT`, hit SL, or reach the preclose. `--close-winners` closes only green ones.

Other flags: --tickers leaders (default; also decliners/reversion keywords or literal symbols), --universe-size 10, --dte 14 (default), --max-debit-frac 0.45, --gamma-gate off|warn|block (default block), --strategy bf|bwb, --side auto|call|put, --run once|continuous, --state-tag (its own paper book), --discord default → DISCORD_BROKEN_WING_BUTTERFLY_WEBHOOK. Structures come from the shared option_structures library — the same one the scanner and the other structure tools use.

Disclaimer: Educational tool. Not financial advice. Always verify strikes, liquidity, and risk before trading.

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