How are AMCR 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 AMCR butterfly priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 26.60%), the computed maximum profit is $46.37 per contract and the computed maximum loss is -$135.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a AMCR butterfly?

The breakeven for the AMCR butterfly priced on this page is roughly $45.35 and $46.65 at expiration, derived from the August 14, 2026 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 AMCR market-implied 1-standard-deviation expected move in the same options snapshot is approximately 7.63%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current AMCR implied volatility affect this butterfly?

AMCR ATM IV is at 26.60% with IV rank near 30.81%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.

AMCR Butterfly Strategy

AMCR (Amcor plc), in the Consumer Cyclical sector, (Packaging & Containers industry), listed on NYSE.

Amcor plc stands as a prominent global provider of packaging solutions, focusing on the creation, production, and distribution of its diverse product portfolio across Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company's operations are divided into two main segments: Flexibles and Rigid Packaging. The Flexibles division specializes in offering advanced flexible and film packaging solutions, catering to a wide array of industries including food and beverages, medical and pharmaceutical sectors, fresh produce, snack foods, and personal care items. Meanwhile, the Rigid Packaging segment is responsible for manufacturing robust containers suitable for an extensive range of liquid and food products. This includes packaging for carbonated soft drinks, various types of water, juices, sports drinks, dairy-based beverages, spirits, beer, sauces, dressings, spreads, and personal care necessities. Additionally, this segment produces plastic closures designed for numerous applications.

AMCR (Amcor plc) trades in the Consumer Cyclical sector, specifically Packaging & Containers, with a market capitalization of approximately $21.53B, a trailing P/E of 19.50, a beta of 0.59 versus the broader market, a 52-week range of 36.25-50.94, average daily share volume of 3.9M, a public-listing history dating back to 2012, approximately 77K full-time employees. These structural characteristics shape how AMCR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.59 indicates AMCR has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. AMCR pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a butterfly on AMCR?

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.

AMCR snapshot

As of August 14, 2026, spot at $46.04, ATM IV 26.60%, IV rank 30.81%, expected move 7.63%. The butterfly on AMCR below is built from the August 14, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 7-day expiry.

Why this butterfly structure on AMCR specifically: AMCR IV at 26.60% is mid-range versus its 1-year history, so strategy selection should anchor more to the directional thesis than to the IV regime, with a market-implied 1-standard-deviation move of approximately 7.63% (roughly $3.51 on the underlying). The 7-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated AMCR expiries trade a higher absolute premium for lower per-day decay. Position sizing on AMCR should anchor to the underlying notional of $46.04 per share and to the trader's directional view on AMCR stock.

AMCR butterfly setup

The AMCR butterfly below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With AMCR at $46.04 on that close, the first option leg uses a $44.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AMCR chain at a 7-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 AMCR shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$44.00	$2.73
Sell 2	Call	$46.00	$0.75
Buy 1	Call	$48.00	$0.13

AMCR butterfly risk and reward

Net Premium / Debit: -$135.00
Max Profit (per contract): $46.37
Max Loss (per contract): -$135.00
Breakeven(s): $45.35, $46.65
Risk / Reward Ratio: 0.343

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.

AMCR butterfly payoff curve

Modeled P&L at expiration across a range of underlying prices for the butterfly on AMCR. 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%	-$135.00
$10.19	-77.9%	-$135.00
$20.37	-55.8%	-$135.00
$30.55	-33.7%	-$135.00
$40.72	-11.5%	-$135.00
$50.90	+10.6%	-$135.00
$61.08	+32.7%	-$135.00
$71.26	+54.8%	-$135.00
$81.44	+76.9%	-$135.00
$91.62	+99.0%	-$135.00

When traders use butterfly on AMCR

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

AMCR thesis for this butterfly

The market-implied 1-standard-deviation range for AMCR extends from approximately $42.53 on the downside to $49.55 on the upside. A AMCR long call butterfly is a pinning play: it pays maximum at the middle strike if AMCR settles there at expiration, with the wing legs capping both the cost and the maximum loss to the net debit. Current AMCR IV rank near 30.81% is mid-range against its 1-year distribution, so the IV signal is neutral; the butterfly thesis on AMCR should anchor more to the directional view and the expected-move geometry. As a Consumer Cyclical name, AMCR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AMCR-specific events.

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

Frequently asked questions

What is a butterfly on AMCR?: A butterfly on AMCR is the butterfly strategy applied to AMCR (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 AMCR stock at $46.04 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed AMCR chain strike and the premiums come straight from that session's bid/ask midpoint.
How are AMCR 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 AMCR butterfly priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 26.60%), the computed maximum profit is $46.37 per contract and the computed maximum loss is -$135.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a AMCR butterfly?: The breakeven for the AMCR butterfly priced on this page is roughly $45.35 and $46.65 at expiration, derived from the August 14, 2026 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 AMCR market-implied 1-standard-deviation expected move in the same options snapshot is approximately 7.63%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a butterfly on AMCR?: Butterflies on AMCR are pinning bets - traders use them when they expect AMCR 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 AMCR implied volatility affect this butterfly?: AMCR ATM IV is at 26.60% with IV rank near 30.81%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.