Phelps will go for his fourth medal and 10th overall on Wednesday in the 200m butterfly, yet another event in which he holds the world record.

CNN: Phelps on course with third gold medal

He will go for his fourth medal and 10th overall on Wednesday in the 200m butterfly, yet another event in which he holds the world record.

CNN: Phelps on course with third gold medal

The second lesson is that works that seem to be repetitious actually contain important, subtle differences. (Take heed, all you buyers who think one Damien Hirst butterfly or spot painting is just like another.) A weak market just exacerbates these differences.

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One other quick point: you may want to start with an out of the money call butterfly or put butterfly in order to lessen the probability of another party exercising an option you sell, as it is detrimental for them to do so while the option is out of the money.

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On Friday, the three-time heavyweight champion, whose name became synonymous with the phrases "float like a butterfly, sting like a bee" and "I am the Greatest, " made another memorable appearance late Friday during a spectacular opening ceremony ushering in the 2012 Summer Olympic Games in London.

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It was another Dutch one-two in the final of the women's 50 metres butterfly with Chantal Groot taking gold and Inge Dekker the silver.

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