... butterfly:breakeven, 276 – 279 , 281, 302–303,525case study, 279 –281defined, 472 exit strategies, 277 , 279 , 302margin, 278 , 281market opportunity, 278 , 281, 525mechanics of, 277 overview of, 276 – 278 , 281, ... 354560 INDEXccc_fontanills_indx_5 57- 576 .qxd 12/ 17/ 04 4:46 PM Page 560overview of, 271 – 273 , 275 , 512, 524risk graph, 273 – 275 risk /profit profile, 273 , 275 – 276 ,300, 524strategy road map, 300–301Long ... aremeasured low to low, high to high, or low to high. Various types of measure-ments are possible.daily range The difference between the high and low price of a security in one trading day.day...