{"slug":"broken-wing-butterfly-explained","qid":"pernas","label":"pernas","post_title":"broken-wing-butterfly-explained","post_url":"/blog/lang/pt/broken-wing-butterfly-explained#q-pernas","columns":["perna","strike_usd","premio_usd","delta"],"rows":[{"perna":"compra 1 (asa baixa)","strike_usd":290,"premio_usd":9.3,"delta":0.565},{"perna":"venda 2 (corpo)","strike_usd":295,"premio_usd":6.7,"delta":0.465},{"perna":"compra 1 (asa alta)","strike_usd":305,"premio_usd":3.15,"delta":0.275}],"shape":"ranking","sql":"WITH\n    venc AS (\n        SELECT expiration_date AS exp\n        FROM global_markets.options_greeks\n        WHERE underlying_symbol = 'AAPL'\n          AND date = '2026-06-12'\n          AND iv_converged = 1\n          AND volume > 0\n          AND days_to_expiry BETWEEN 20 AND 75\n        GROUP BY expiration_date\n        ORDER BY sum(volume) DESC\n        LIMIT 1\n    ),\n    marks AS (\n        SELECT\n            toFloat64(strike_price)          AS strike,\n            avg(toFloat64(option_close))     AS mark,\n            avg(delta)                       AS dl,\n            avg(toFloat64(underlying_close)) AS spot\n        FROM global_markets.options_greeks\n        WHERE underlying_symbol = 'AAPL'\n          AND date = '2026-06-12'\n          AND expiration_date IN (SELECT exp FROM venc)\n          AND lower(toString(option_type)) IN ('call', 'c')\n          AND iv_converged = 1\n          AND volume > 0\n        GROUP BY strike\n    ),\n    anchor AS (\n        SELECT max(strike) AS k1\n        FROM marks\n        WHERE modulo(toUInt32(round(strike * 100)), 500) = 0\n          AND strike <= spot\n    )\nSELECT\n    multiIf(m.strike = a.k1,     'compra 1 (asa baixa)',\n            m.strike = a.k1 + 5, 'venda 2 (corpo)',\n                                 'compra 1 (asa alta)') AS perna,\n    round(m.strike, 2) AS strike_usd,\n    round(m.mark, 2)   AS premio_usd,\n    round(m.dl, 3)     AS delta\nFROM marks AS m\nCROSS JOIN anchor AS a\nWHERE m.strike = a.k1\n   OR m.strike = a.k1 + 5\n   OR m.strike = a.k1 + 15\nORDER BY m.strike","computed_at":"2026-09-25T15:23:13.690665+00:00","elapsed":0.006531822}