How are AGYS 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 AGYS butterfly priced from the end-of-day chain at a 30-day expiry (ATM IV 75.70%), the computed maximum profit is $290.00 per contract and the computed maximum loss is -$210.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a AGYS butterfly?

The breakeven for the AGYS butterfly priced on this page is roughly $67.10 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 AGYS market-implied 1-standard-deviation expected move is approximately 21.70%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current AGYS implied volatility affect this butterfly?

AGYS ATM IV is at 75.70% with IV rank near 13.29%, which is on the low end of its 1-year range. Premium-buying structures (long call, long put, debit spreads) are relatively cheap in this regime; premium-selling structures collect less credit per unit risk.

AGYS Butterfly Strategy

AGYS (Agilysys, Inc.), in the Technology sector, (Software - Application industry), listed on NASDAQ.

Agilysys, Inc., together with its subsidiaries, operates as a developer and marketer of hardware and software products and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. It offers point of sale, property management systems, inventory and procurement, payments, reservations management, and seat solutions to enhance guest experience. The company also provides technical software support, maintenance, and subscription services; and professional services. It offers its solutions for gaming, hotels, resorts and cruise, corporate foodservice management, restaurants, universities, stadium, and healthcare. The company was formerly known as Pioneer-Standard Electronics, Inc. and changed its name to Agilysys, Inc. in 2003. Agilysys, Inc. was founded in 1932 and is headquartered in Alpharetta, Georgia.

AGYS (Agilysys, Inc.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $1.84B, a trailing P/E of 60.28, a beta of 0.30 versus the broader market, a 52-week range of 61.5-145.25, average daily share volume of 305K, a public-listing history dating back to 1980, approximately 2K full-time employees. These structural characteristics shape how AGYS stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.30 indicates AGYS has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. The trailing P/E of 60.28 is on the rich side, which tends to correlate with higher earnings-window IV expansion as the market debates whether forward growth supports the multiple.

What is a butterfly on AGYS?

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 AGYS snapshot

As of May 15, 2026, spot at $67.59, ATM IV 75.70%, IV rank 13.29%, expected move 21.70%. The butterfly on AGYS 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 63-day expiry.

Why this butterfly structure on AGYS specifically: AGYS IV at 75.70% is on the cheap side of its 1-year range, which favors premium-buying structures like a AGYS butterfly, with a market-implied 1-standard-deviation move of approximately 21.70% (roughly $14.67 on the underlying). The 63-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated AGYS expiries trade a higher absolute premium for lower per-day decay. Position sizing on AGYS should anchor to the underlying notional of $67.59 per share and to the trader's directional view on AGYS stock.

AGYS butterfly setup

The AGYS 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 AGYS near $67.59, the first option leg uses a $65.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AGYS chain at a 63-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 AGYS shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$65.00	$8.85
Sell 2	Call	$70.00	$6.75
Buy 1	Call	$70.00	$6.75

AGYS butterfly risk and reward

Net Premium / Debit: -$210.00
Max Profit (per contract): $290.00
Max Loss (per contract): -$210.00
Breakeven(s): $67.10
Risk / Reward Ratio: 1.381

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.

AGYS butterfly payoff curve

Modeled P&L at expiration across a range of underlying prices for the butterfly on AGYS. 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.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-100.0%	-$210.00
$14.95	-77.9%	-$210.00
$29.90	-55.8%	-$210.00
$44.84	-33.7%	-$210.00
$59.78	-11.5%	-$210.00
$74.73	+10.6%	+$290.00
$89.67	+32.7%	+$290.00
$104.61	+54.8%	+$290.00
$119.56	+76.9%	+$290.00
$134.50	+99.0%	+$290.00

When traders use butterfly on AGYS

Butterflies on AGYS are pinning bets - traders use them when they expect AGYS 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.

AGYS thesis for this butterfly

The market-implied 1-standard-deviation range for AGYS extends from approximately $52.92 on the downside to $82.26 on the upside. A AGYS long call butterfly is a pinning play: it pays maximum at the middle strike if AGYS settles there at expiration, with the wing legs capping both the cost and the maximum loss to the net debit. Current AGYS IV rank near 13.29% sits in the lower third of its 1-year distribution, where IV often re-expands toward the mean; this favors premium-buying structures and disadvantages premium-selling structures on AGYS at 75.70%. As a Technology name, AGYS options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AGYS-specific events.

AGYS 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. AGYS positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move AGYS alongside the broader basket even when AGYS-specific fundamentals are unchanged. Always rebuild the position from current AGYS chain quotes before placing a trade.

Frequently asked questions

What is a butterfly on AGYS?: A butterfly on AGYS is the butterfly strategy applied to AGYS (stock). 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 AGYS stock trading near $67.59, the strikes shown on this page are snapped to the nearest listed AGYS chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are AGYS 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 AGYS butterfly priced from the end-of-day chain at a 30-day expiry (ATM IV 75.70%), the computed maximum profit is $290.00 per contract and the computed maximum loss is -$210.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a AGYS butterfly?: The breakeven for the AGYS butterfly priced on this page is roughly $67.10 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 AGYS market-implied 1-standard-deviation expected move is approximately 21.70%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a butterfly on AGYS?: Butterflies on AGYS are pinning bets - traders use them when they expect AGYS 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 AGYS implied volatility affect this butterfly?: AGYS ATM IV is at 75.70% with IV rank near 13.29%, which is on the low end of its 1-year range. Premium-buying structures (long call, long put, debit spreads) are relatively cheap in this regime; premium-selling structures collect less credit per unit risk.