Is there such a thing as an American butterfly spread?
For a European butterfly spread simply buying 1 put with strike price X+a, 1 put with strike price X-a and shorting 2 calls with strike price X, all with the same expiration date, would give you a butterfly spread. However if we now do the same with american options, then we could exercise various parts of the strategy before others.
Are "fully" American option strategies commonly traded?
Thanks in advance.