The daily chart shows a clean rebound, improving momentum, and price holding above the key short-term moving averages. But after that fast move higher, the setup is no longer early. AAPL is now closer to resistance than support, with RSI back near the upper part of its recent range.

That creates a practical setup for a Call Broken Wing Butterfly options trade.

The idea is not that Apple needs to collapse. The thesis is simpler: after a strong rebound into the low $300s, AAPL may begin to slow down, consolidate, or trade with less upside momentum over the next few weeks.

How the Trade Was Selected

AAPL came through Options Strategist, my Telegram terminal, as part of the Call Broken Wing Butterfly scan.

The ranking screen highlighted AAPL with an RSI reading near 60, which made it a useful candidate for a defined-risk options income setup. It was not the most extended name on the list, but it had the right combination of strength, rebound momentum, and location after a fast move off the lows.

That is the type of setup I want to see for a Call Broken Wing Butterfly.

The chart then confirmed the same basic idea. AAPL has regained momentum, pushed back above the moving averages, and is trading near the top of the recent price structure. The move is strong, but it is also mature enough to justify selling premium above the market rather than chasing the stock higher.

Options Strategist then converted that market condition into a structure: a 330/335/360 Call Broken Wing Butterfly expiring on August 7, 2026.

The selected configuration placed the short call spread well above the current stock price, kept the risk fully defined, and opened the trade for a net credit.

That combination matched the setup I was looking for.

Read more

The trade developed largely as expected. After a strong advance into fresh highs, upside momentum began to cool, allowing time decay to work in favor of the position. Rather than exposing the trade to unnecessary expiration risk, I chose to realize the gain while the original thesis remained intact.

What Was Opened

The position was opened on June 15 after the stock appeared near the top of my Options Strategist rankings. The original idea was straightforward: the trend remained healthy, but the move had become increasingly extended after several weeks of persistent buying.

The expectation was never a major reversal. A period of slower upside progress or sideways price action was enough for the trade to benefit from premium decay while keeping risk fully defined.

Trade Recap

Structure: Call BWB
Opened: June 15, 2026
Expiration: July 17, 2026
Closed: June 26, 2026

Contracts: 3

Exit Prices:
680C Long Call: $2.53
690C Short Call: $2.14
720C Long Call: $1.35

Exit Broker Fees: –$6.38

Net P/L: +$448 (79%)

👉 View on OptionStrat
👉 View in Trade Log

Final Takeaway

Not every profitable trade requires a dramatic market move. Sometimes the best outcome comes from a market that simply slows down enough for probabilities and time decay to do their work.

This trade followed the original plan from entry to exit, resulting in a $448 net profit after commissions while capital was freed for the next opportunity.

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Disclaimer  

All content is for informational purposes only and does not constitute financial advice.Any trades or strategies should be tested in a simulated environment before use.Trading involves risk, and all decisions are the sole responsibility of the reader.

The trade did what it was designed to do: QQQ stopped pressing higher, upside momentum cooled, and the defined-risk structure gave me a clean window to take profit before expiration risk became the main factor.

What Was Opened

On June 9, I opened a QQQ Call Broken Wing Butterfly using the July 10 expiration.

The structure was:

Buy 3x 761 Call
Sell 6x 762 Call
Buy 3x 785 Call

This was a bearish/neutral trade built after QQQ had already made a stretched upside move. The goal was not to call a major top. The goal was to use a defined-risk options trade to position for a slowdown, consolidation, or pullback while collecting premium.

That is exactly the type of setup this structure is designed for.

Trade Recap

Structure: Call BWB
Opened: June 9, 2026
Expiration: July 2, 2026
Closed: July 10, 2026

Long Call: 761C
Short Call: 762C
Long Call: 785C
Contracts: 3

Exit Prices:
761C Long Call: $1.65
762C Short Call: $1.54
785C Long Call: $0.31

Exit Broker Fees: –$8.41
Net P/L: +$274 (46%)

👉 View on OptionStrat
👉 View in Trade Log

Final Takeaway

This was a clean execution of the original plan.

The setup started with an overbought RSI extension, the structure gave the trade defined risk, and the exit captured a strong profit before expiration risk became unnecessary.

Final result: +$274 net profit after commissions.

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Disclaimer  

All content is for informational purposes only and does not constitute financial advice.Any trades or strategies should be tested in a simulated environment before use.Trading involves risk, and all decisions are the sole responsibility of the reader.

After a strong advance from the April lows, the ETF is now sitting near the upper end of its recent range and close to the all-time high printed earlier this week. The daily chart still shows a clean uptrend, but the move is no longer early. Price has already extended above the main moving averages, RSI remains elevated, and the short-term upside momentum appears stretched.

That makes this setup interesting for a Call Broken Wing Butterfly.

The trade is not built around the idea that IWM has to collapse. The thesis is simpler: after a persistent upside move, especially in a market environment where sentiment remains fragile, IWM may start to slow down, consolidate, or pull back over the next one to two weeks.

How the Trade Was Selected

IWM came through my private Telegram terminal, Options Strategist, as a candidate for a Call Broken Wing Butterfly structure. The system is designed to surface tickers where RSI extension, option structure, and trade location create a practical defined-risk opportunity.

In this case, IWM stood out because the ETF was not weak. It was strong — and that was the point.

The daily chart showed a steady uptrend with price holding near recent highs. The weekly and monthly charts confirmed the same broader theme: small caps have been moving with real strength, and the trend remains intact. But when an instrument is already pressing near all-time highs while the broader market feels unstable, the risk-reward begins to shift.

Options Strategist helped turn that market condition into a tradable structure. The selected configuration placed the short call spread above the current price, kept risk fully defined, and opened for a net credit.

That combination matched the setup I was looking for.

Read more

At the same time, the weekly chart is starting to show signs of a mature move. RSI remains elevated, and the weekly MACD recently hinted at a possible momentum rollover before today’s strong advance pushed the stock higher once again.

That combination is exactly what makes this Call Broken Wing Butterfly interesting.

The trade is built around the idea that AMD does not need to collapse for the position to work. After months of persistent upside expansion, the stock simply needs to start losing momentum over the next 32 days. A period of consolidation, slower upside progress, or a modest pullback would be enough to support the thesis while keeping risk fully defined.

How the Trade Was Selected

AMD appeared near the top of the Options Strategist Call Broken Wing Butterfly rankings, supported by an RSI reading above 65. The stock was not being selected because it looked weak. Quite the opposite. AMD had already recovered from its latest pullback and was trading back near all-time highs, extending a trend that has been in place since April.

Read more

On the daily chart, price lost the short-term moving average, tested the 50-day area, and failed to regain the prior upside channel. The June 5 gap-down session remains the key technical event in this setup.

Momentum also weakened. MACD turned sharply lower, volume expanded during the selloff, and RSI moved back down from elevated levels.

The weekly chart still shows a strong advance from the April lows, but the latest candle suggests momentum has stalled near the highs. That makes QQQ a candidate for a bearish-to-neutral Call Broken Wing Butterfly.

How the Trade Was Selected

QQQ first caught my attention on the chart.

The June 5 gap-down session interrupted the prior advance and shifted the short-term picture from persistent upside momentum to a more neutral setup. The daily chart showed weakening momentum, while the weekly chart suggested the rally from the April lows was beginning to lose strength.

After identifying QQQ as a potential candidate, I used my private Telegram terminal, Options Strategist, to find a structure that matched my trade criteria.

The selected configuration provided a solid net credit and placed the risk zone sufficiently above the current market price. The risk-reward profile fit the setup I was looking for.

The structure met all strategy requirements, and the trade was opened.

Read more

The setup started from an extended upside move. By the time the position was closed on June 5, upside momentum had faded, price pulled back from the highs, and the structure had repriced in our favor.

Trade Recap

Structure: Call BWB
Opened: June 2, 2026
Expiration: July 2, 2026
Closed: June 5, 2026

Long Call: 780C
Short Call: 785C
Long Call: 810C
Contracts: 3

Exit Prices:
780C Long Call: $1.73
785C Short Call: $1.28
810C Long Call: $0.33

Exit Broker Fees: –$5.42
Net P/L: +$369 (69%)

👉 View on OptionStrat
👉 View in Trade Log

What Worked

The key point is that QQQ did not need a dramatic move lower for the trade to work.

The market was already stretched to the upside when the Call Broken Wing Butterfly was opened. After entry, QQQ stopped accelerating higher and started to pull back from the highs. That shift was enough for the position to reprice favorably.

The daily chart also showed the same cooling behavior: price moved off the recent peak, momentum softened, and RSI dropped back from the extended area. For this type of defined-risk options trade, that is the environment where the structure can work well.

This was also a clean management decision. The trade had captured a meaningful portion of the available premium in just a few days. Instead of waiting for expiration or trying to extract every last dollar, the position was closed, the profit was realized, and the remaining risk was removed.

Final Takeaway

This trade did what it was designed to do.

The setup came from an overbought market condition, the structure gave defined risk, and the exit followed the plan once the upside momentum cooled.

A $369 net profit in three days is a strong result — but the main win is process quality: systematic entry, defined risk, active management, and no need to hold the trade into expiration.

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Disclaimer  

All content is for informational purposes only and does not constitute financial advice.Any trades or strategies should be tested in a simulated environment before use.Trading involves risk, and all decisions are the sole responsibility of the reader.

SPDR S&P 500 ETF Trust (SPY) moved exactly into the type of environment this structure was built for: upside momentum slowed, the overbought condition cooled, and the position allowed us to take profit without waiting for expiration.

Trade Recap

Structure: Call BWB
Expiration: June 26, 2026
Long Call: 776C
Short Call: 777C
Long Call: 800C
Contracts: 2
Credit Received: $388
Broker Fees: –$5.30
Net P/L: +$256 (66%)

👉 View on OptionStrat
👉 View in Trade Log

What Worked

The core thesis was simple: SPY was extended to the upside, RSI was elevated, and the move was no longer early.

The trade did not require a sharp selloff. It only needed the market to stop accelerating higher. That is the advantage of using a Call Broken Wing Butterfly in this type of setup.

SPY stalled, pulled back from the highs, and the overbought pressure cooled. That allowed the structure to reprice favorably while time decay worked in our direction.

The important part is that the exit followed the plan. This was never intended to be held into expiration. Once a meaningful portion of the available premium was captured, the position was closed and risk was removed.

Final Takeaway

This was the first closed trade under the updated framework, and it did exactly what I want this strategy to do.

The setup came from a systematic process, the risk was defined from the start, the market condition matched the structure, and the exit was taken before expiration.

A $256 net profit on the first Call BWB is a clean result — not because the trade was perfect, but because the process was clear.

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Disclaimer  

All content is for informational purposes only and does not constitute financial advice.Any trades or strategies should be tested in a simulated environment before use.Trading involves risk, and all decisions are the sole responsibility of the reader.

After several weeks of relentless upside momentum, the Nasdaq ETF has reached one of its most extended technical conditions of the year, with RSI climbing above 79.

Conditions like these push assets to the top of my Call Broken Wing Butterfly rankings.

Earlier today, QQQ was one of them.

I opened a new position designed to benefit from a slowdown, consolidation, or simply less upside than the market currently expects.

How the Trade Was Selected

The process started inside my private Telegram terminal — Options Strategist.

The scanner ranked multiple candidates based on RSI, volatility conditions, liquidity, and structure quality.

QQQ immediately stood out.

At the time of entry:

Read more

This is the first real-money execution after transitioning away from weekly 10-delta credit spreads toward longer-duration asymmetric structures.

How the Trade Was Selected

I used my private Telegram terminal — Options Strategist — to scan for setups based on:

• elevated RSI;

• strong upside extension;

• acceptable implied volatility;

• liquid option chains.

The scanner returned several candidates:

Read more

The main conclusion was simple: the market idea behind 10 Delta Playbook still makes sense. Markets often reach zones of stretched momentum where continuation becomes less efficient, while option premium remains attractive enough to structure a defined-risk trade around that condition.

What needed to evolve was the structure.

A simple weekly credit spread does not always provide enough space when a strong move continues longer than expected.

That is why the next phase of 10 Delta Playbook will be built around a more mature options structure:

👉 Call Broken Wing Butterfly 👈

This framework is an evolution of the original credit spread logic — built around the same premium-selling philosophy: stretched movement, elevated RSI, rich premium, defined risk, and probability-based positioning.

What changes is the structure itself: more time, more asymmetry, and a more flexible risk geometry better suited for continuation-heavy market conditions.

Why 10-Delta Bear Call Spreads Worked for So Long

For almost a year, my weekly workflow revolved around 10-delta credit spread structures — primarily Bear Call Spreads, with occasional Put Credit Spreads built around the same probability-driven logic.

Over that period, I publicly documented 52 structured trades built around the same probability-driven framework: stretched upside movement, elevated RSI, rich premium, and defined-risk positioning through short-duration credit spreads.

The series remained highly consistent for a long time — until one sharp failure exposed how sensitive a narrow weekly structure can become when momentum expansion continues much further than expected.

Where a Simple Credit Spread Becomes Limiting

The core logic behind credit spreads still makes sense to me: sell premium around stretched conditions, define the risk upfront, and let probability and time work together.

The limitation appears in the structure itself:

A narrow weekly spread becomes increasingly sensitive when momentum continues expanding longer than expected. As expiration approaches, the trade compresses into a much more timing-dependent position, leaving very little flexibility if the original idea is correct but early.

That is ultimately what pushed me toward a structure that keeps the same premium-selling philosophy, but provides more space, more asymmetry, and a more adaptive payoff profile.

Credit Spread vs Broken Wing Butterfly

The idea finally crystallized after studying SMB Capital’s discussion:

What immediately stood out to me was that Broken Wing Butterfly was not some completely different philosophy. Structurally, it felt like a more advanced evolution of the same premium-selling logic I had already been trading through weekly credit spreads.

The important point: Broken Wing Butterfly does not replace the philosophy behind credit spreads. It extends it into a more flexible and structurally balanced framework.

This is the key comparison:

That is why I do not see BWB as a completely different strategy.

I see it as the next structural evolution of the same framework.

Why the Focus Is Now Around 30 DTE

Weekly trades were fast and efficient, but short expirations create heavy timing pressure. If momentum continues for several more sessions, a narrow weekly structure can become rigid very quickly as gamma exposure accelerates into expiration.

That is why the new framework shifts toward structures opened around ~30 DTE.

The purpose of the longer duration is not to hold positions into expiration, but to open trades with a more stable and flexible risk structure from the start.

In practice, most positions will still be managed actively and often closed much earlier — frequently within about a week — depending on how the price action develops.

The framework now prioritizes structurally balanced entries and active position management instead of expiration-dependent execution.

How the New Framework Works

Broken Wing Butterfly structures need liquidity. They need reliable option chains, tight bid/ask spreads, working greeks, and the ability to quickly check the full structure in OptionStrat.

That is why the current asset universe is limited to:

SPY, QQQ, IWM, AMD, AAPL, MSFT, TSLA, NVDA, AMZN, META, SLV, GLD, TLT, NFLX, GOOG, MU, PLTR.

The new selection logic works like this:

1. RSI and volatility rank are evaluated first.

2. Assets with elevated RSI and strong prior upside expansion become primary candidates.

3. Expiration is selected around ~30 DTE.

4. The short center call is selected around 20-delta.

5. The lower call wing is selected around roughly 70% of the short call premium.

6. The upper call wing is selected cheaper, roughly around 15% of the short call premium.

7. The structure must open for at least ~$100 net credit per 1-contract structure.

8. SAFE structures pass a max-loss filter of up to roughly ~$2,000.

9. HIGH_RISK structures may still appear if the minimum credit threshold remains attractive.

A Private Terminal for the New Phase

After a year of preparing trades manually, it became clear that the next version of the framework needed to be more than an idea. It needed to become a working tool.

That is why I built Options Strategist —
a private Telegram terminal for paid subscribers.

It is not a signal bot and it does not replace judgment with a button.

Its purpose is to automate structure preparation inside a clearly defined framework.

It handles the parts that take time manually and can easily break under pressure:

✅ filters liquid assets and option chains;

✅ prepares asymmetric Broken Wing Butterfly structures automatically;

✅ validates credit, risk, and structure quality;

✅ blocks unstable or incomplete market data;

✅ generates direct OptionStrat links with the full structure already built.

Paid subscribers get direct access to this workflow through Telegram authorization using the same email address tied to their subscription.

This is where preparation for new weekly structures will now begin.

What Changes Now in 10 Delta Playbook

The old weekly credit spread framework is now retired as the primary structure inside the project.

From this point forward, the focus shifts toward systematically built Call Broken Wing Butterfly positions executed through the new framework and workflow described above.

A new public trade log will continue to be maintained transparently, with real-money positions, real entries, real exits, and fully documented weekly execution.

Some weeks may produce one setup. Some weeks may produce several. But the process itself will remain systematic.

The goal now is not simply to find premium. — The goal is to continue refining a repeatable and structurally disciplined approach to options trading in public.

Thank you to everyone following the project so far.

More structures ahead.

— Mansur

Disclaimer 

All content is for informational purposes only and does not constitute financial advice.Any trades or strategies should be tested in a simulated environment before use.Trading involves risk, and all decisions are the sole responsibility of the reader.