The basis of skipping a strike just refers to one of your strikes being unequal in distance for the skip strike put butterfly the trade has a setup of buying 1 otm put, selling two otm puts (but less otm than the first long put), then 1 closer to at the money long put.
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Option Contracts
Long Put
Short Put (x2)
Long Put
Equity
No equity included
Estimated Returns
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