### Comment:
Isn’t this also called a broken wing butterfly?

### REPLY:
No, because protection wasn't bought at the higher strike to make it a broken wing butterfly. If it were to be a BWB, it would be something like buy 1x $12 strike, sell 2x $13 strike, skip $14 strike, buy 1x $15 strike for upside protection. The buyer likely doesn't see that much upside potential in the short term, as the stock's most recent highs are in the $13-14 range.

### END.