This tool helps option traders build a butterfly spread sized to the payoff they want, without hand picking three strikes.
You choose a direction and the return you are aiming for. The tool then does two things:
It places the body of the butterfly near where the stock is likely to land under the current market regime, and
It sizes the two wings so the if it pins payoff lands as close to your target return as the available strikes allow.
Every butterfly it returns shows the net debit you pay, the maximum profit at the middle strike, the two breakevens that bound the profit zone, and the historical probability of finishing in profit. A long butterfly is a defined risk trade: the most you can lose is the debit, on either side.
Check out the tool → Butterfly Cheat Tool