# Would it be possible to combine long butterfly with long straddle, achieving profit no matter the outcome?

This has been bugging me for a while, I feel like I'm missing something.

Simply put, a long butterfly will make profit if the price at maturity does not change much, as shown below

A long straddle is the opposite of the above, making profit if the price goes considerably up or down, as shown below

Combining those two might seem like overlaying both graphs, achieving profit no matter what the price. What am I missing?

• You can always guarantee some positive payoff no matter what. But in almost all cases, you should not be able to make a guaranteed profit. Dec 16, 2020 at 16:23
• Don’t forget about the premium you pay at inception. Dec 17, 2020 at 1:09
• Chris Taylor provided the correct answer. You can also figure out the answer to this type of question by combining the positions in a program that accepts multiple positions or you can utilize the Synthetic Triangle to solve it algebraically. Dec 17, 2020 at 1:20