Users: The Director: 6B83B534-A6D6-4A31-A316-D3E9D16DBEF1.png

Wow that is a complicated trade. My calculator may not have worked correctly. I will run the numbers again. I have a hard time imagining that the reaction to earnings (more like losses) and the conference call is going to strongly positive for TSLA stock but need to be prepared for it. Holding the NOV 315 calls and already sold the 325 weekly calls to hedge. Thanks for the strategy! Will try to figure out how to employ it.  
http://markets.businessinsider.com/news/stocks/tesla-stock-price-could- have-to-raise-the-price-of-the-model-3-jpmorgan-says-2017-10-1005053891 10/21/17

Think of the butterfly as a unit. It is simply a calendar spread using butterflies instead of individual options. It is slightly off center to generate a credit, which in the long term doesn’t change, and be use to finance a straddle. 10/21/17

*correction, the calendar with butterflies does not change much in the short term, so the credit can be used to sharply reduce the risk of the short term straddle. 10/21/17