How are GXLC butterfly max profit and max loss calculated?

Max profit equals the wing width minus net debit times 100 (reached when the underlying pins the middle strike); max loss equals the net debit times 100. Two breakevens at lower-wing plus debit and upper-wing minus debit. For the GXLC butterfly priced from the end-of-day chain at a 30-day expiry (ATM IV 16.70%), the computed maximum profit is $288.95 per contract and the computed maximum loss is -$210.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a GXLC butterfly?

The breakeven for the GXLC butterfly priced on this page is roughly $86.11 and $91.90 at expiration, derived from end-of-day chain premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The current GXLC market-implied 1-standard-deviation expected move is approximately 4.79%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current GXLC implied volatility affect this butterfly?

Current GXLC ATM IV is 16.70%; IV rank context is unavailable in the current snapshot.

GXLC Butterfly Strategy

GXLC (Global X - U.S. 500 ETF), in the Financial Services sector, (Asset Management - Global industry), listed on AMEX.

The Global X U.S. 500 ETF, known by its ticker GXLC, is designed to closely mirror the total financial return—encompassing both capital appreciation and income distributions—of the Solactive GBS United States 500 Index. This objective represents the fund's performance before any management fees or other operational expenses are subtracted.

GXLC (Global X - U.S. 500 ETF) trades in the Financial Services sector, specifically Asset Management - Global, with a market capitalization of approximately $4.4M, a beta of 1.01 versus the broader market, a 52-week range of 76.058-91.459, average daily share volume of 0K, a public-listing history dating back to 2025. These structural characteristics shape how GXLC etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.01 places GXLC roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. GXLC pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a butterfly on GXLC?

A long call butterfly buys one lower-strike call, sells two ATM calls, and buys one higher-strike call, paying a small net debit for a defined-risk position that maxes out if the underlying pins the middle strike at expiration.

Current GXLC snapshot

As of June 29, 2026, spot at $89.45, ATM IV 16.70%, expected move 4.79%. The butterfly on GXLC below is built from the same end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 18-day expiry.

Why this butterfly structure on GXLC specifically: IV rank is unavailable in the current snapshot, so regime-based timing for GXLC is inferred from ATM IV at 16.70% alone, with a market-implied 1-standard-deviation move of approximately 4.79% (roughly $4.28 on the underlying). The 18-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated GXLC expiries trade a higher absolute premium for lower per-day decay. Position sizing on GXLC should anchor to the underlying notional of $89.45 per share and to the trader's directional view on GXLC etf.

GXLC butterfly setup

The GXLC butterfly below is built from the end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With GXLC near $89.45, the first option leg uses a $85.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed GXLC chain at a 18-day expiry; the cross-strike IV skew is reflected directly in the per-leg values rather than approximated. Quantity sizing assumes one contract per option leg (or 100 GXLC shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$85.00	$4.43
Sell 2	Call	$89.00	$1.77
Buy 1	Call	$94.00	$0.22

GXLC butterfly risk and reward

Net Premium / Debit: -$110.50
Max Profit (per contract): $288.95
Max Loss (per contract): -$210.50
Breakeven(s): $86.11, $91.90
Risk / Reward Ratio: 1.373

Max profit equals the wing width minus net debit times 100 (reached when the underlying pins the middle strike); max loss equals the net debit times 100. Two breakevens at lower-wing plus debit and upper-wing minus debit.

GXLC butterfly payoff curve

Modeled P&L at expiration across a range of underlying prices for the butterfly on GXLC. Each row is one sampled price point from the computed payoff curve; the full curve uses 200 price points internally before being summarized into 10 rows here.

P&L at expiration across the modeled underlying-price range. Green shading marks profitable regions, red shading marks loss regions. Dotted purple verticals mark breakevens; the solid dark vertical marks current spot.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-100.0%	-$110.50
$19.79	-77.9%	-$110.50
$39.56	-55.8%	-$110.50
$59.34	-33.7%	-$110.50
$79.12	-11.6%	-$110.50
$98.89	+10.6%	-$210.50
$118.67	+32.7%	-$210.50
$138.45	+54.8%	-$210.50
$158.22	+76.9%	-$210.50
$178.00	+99.0%	-$210.50

When traders use butterfly on GXLC

Butterflies on GXLC are pinning bets - traders use them when they expect GXLC to settle near a specific level at expiration (often the prior close, a round number, or the max-pain strike) and want defined-risk exposure to that outcome.

GXLC thesis for this butterfly

The market-implied 1-standard-deviation range for GXLC extends from approximately $85.17 on the downside to $93.73 on the upside. A GXLC long call butterfly is a pinning play: it pays maximum at the middle strike if GXLC settles there at expiration, with the wing legs capping both the cost and the maximum loss to the net debit. As a Financial Services name, GXLC options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to GXLC-specific events.

GXLC butterfly positions are structurally neutral / pin (limited-risk, limited-reward); the modeled P&L assumes European-style exercise at expiration and ignores early assignment, transaction costs, dividends paid before expiry on the stock leg (when present), and the bid-ask spread on the listed chain. GXLC positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move GXLC alongside the broader basket even when GXLC-specific fundamentals are unchanged. Always rebuild the position from current GXLC chain quotes before placing a trade.

Frequently asked questions

What is a butterfly on GXLC?: A butterfly on GXLC is the butterfly strategy applied to GXLC (etf). The strategy is structurally neutral / pin (limited-risk, limited-reward): A long call butterfly buys one lower-strike call, sells two ATM calls, and buys one higher-strike call, paying a small net debit for a defined-risk position that maxes out if the underlying pins the middle strike at expiration. With GXLC etf trading near $89.45, the strikes shown on this page are snapped to the nearest listed GXLC chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are GXLC butterfly max profit and max loss calculated?: Max profit equals the wing width minus net debit times 100 (reached when the underlying pins the middle strike); max loss equals the net debit times 100. Two breakevens at lower-wing plus debit and upper-wing minus debit. For the GXLC butterfly priced from the end-of-day chain at a 30-day expiry (ATM IV 16.70%), the computed maximum profit is $288.95 per contract and the computed maximum loss is -$210.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a GXLC butterfly?: The breakeven for the GXLC butterfly priced on this page is roughly $86.11 and $91.90 at expiration, derived from end-of-day chain premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The current GXLC market-implied 1-standard-deviation expected move is approximately 4.79%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a butterfly on GXLC?: Butterflies on GXLC are pinning bets - traders use them when they expect GXLC to settle near a specific level at expiration (often the prior close, a round number, or the max-pain strike) and want defined-risk exposure to that outcome.
How does current GXLC implied volatility affect this butterfly?: Current GXLC ATM IV is 16.70%; IV rank context is unavailable in the current snapshot.