AISP Butterfly Strategy
AISP (Airship AI Holdings, Inc.), in the Technology sector, (Software - Infrastructure industry), listed on NASDAQ.
Based in the U.S., Airship AI Holdings, Inc. delivers an artificial intelligence-powered surveillance solution that unifies video, sensor, and data management capabilities. Its product portfolio includes Airship Acropolis OS for both IP and traditional analog video surveillance; Airship Command, a comprehensive set of visualization tools enabling users to analyze data and evidence collected at the network edge; and Airship Outpost, which facilitates high-definition recording along with customizable low-bit rate video stream encoding. Their clientele spans various sectors, including governmental bodies, the public sector, law enforcement agencies, military operations, and commercial enterprises. Previously operating as Super Simple AI, Inc., the company officially adopted the name Airship AI Holdings, Inc. in March 2023. Established in 2006, its corporate headquarters are situated in Redmond, Washington.
AISP (Airship AI Holdings, Inc.) trades in the Technology sector, specifically Software - Infrastructure, with a market capitalization of approximately $71.3M, a trailing P/E of 2.72, a beta of 0.59 versus the broader market, a 52-week range of 1.685-7.2, average daily share volume of 567K, a public-listing history dating back to 2021, approximately 65 full-time employees. These structural characteristics shape how AISP stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.59 indicates AISP 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 2.72 is on the value side, where IV often compresses outside event windows because forward growth expectations are already discounted into the share price.
What is a butterfly on AISP?
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.
AISP snapshot
As of August 14, 2026, spot at $1.94, ATM IV 103.80%, IV rank 24.18%, expected move 29.76%. The butterfly on AISP below is built from the end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.
Why this butterfly structure on AISP specifically: AISP IV at 103.80% is on the cheap side of its 1-year range, which favors premium-buying structures like a AISP butterfly, with a market-implied 1-standard-deviation move of approximately 29.76% (roughly $0.58 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated AISP expiries trade a higher absolute premium for lower per-day decay. Position sizing on AISP should anchor to the underlying notional of $1.94 per share and to the trader's directional view on AISP stock.
AISP butterfly setup
The AISP 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 AISP at $1.94 on that close, the first option leg uses a $1.84 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AISP chain at a 35-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 AISP shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $1.84 | N/A |
| Sell 2 | Call | $1.94 | N/A |
| Buy 1 | Call | $2.04 | N/A |
AISP butterfly risk and reward
- Net Premium / Debit
- N/A
- Max Profit (per contract)
- Unbounded
- Max Loss (per contract)
- Unbounded
- Breakeven(s)
- None on modeled curve
- Risk / Reward Ratio
- N/A
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.
AISP butterfly payoff curve
Modeled P&L at expiration across a range of underlying prices for the butterfly on AISP. 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.
When traders use butterfly on AISP
Butterflies on AISP are pinning bets - traders use them when they expect AISP 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.
AISP thesis for this butterfly
The market-implied 1-standard-deviation range for AISP extends from approximately $1.36 on the downside to $2.52 on the upside. A AISP long call butterfly is a pinning play: it pays maximum at the middle strike if AISP settles there at expiration, with the wing legs capping both the cost and the maximum loss to the net debit. Current AISP IV rank near 24.18% 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 AISP at 103.80%. As a Technology name, AISP options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AISP-specific events.
AISP 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. AISP positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move AISP alongside the broader basket even when AISP-specific fundamentals are unchanged. Always rebuild the position from current AISP chain quotes before placing a trade.
Frequently asked questions
- What is a butterfly on AISP?
- A butterfly on AISP is the butterfly strategy applied to AISP (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 AISP stock at $1.94 on the most recent close, the strikes shown on this page are snapped to the nearest listed AISP chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are AISP 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 AISP butterfly priced from the end-of-day chain at a 30-day expiry (ATM IV 103.80%), the computed maximum profit is unbounded per contract and the computed maximum loss is unbounded per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a AISP butterfly?
- The breakeven for the AISP butterfly priced on this page is no defined breakeven on the modeled curve at expiration, derived from the end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The AISP market-implied 1-standard-deviation expected move in the same options snapshot is approximately 29.76%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a butterfly on AISP?
- Butterflies on AISP are pinning bets - traders use them when they expect AISP 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 AISP implied volatility affect this butterfly?
- AISP ATM IV is at 103.80% with IV rank near 24.18%, 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.