AMPX Butterfly Strategy
AMPX (Amprius Technologies, Inc.), in the Industrials sector, (Electrical Equipment & Parts industry), listed on NYSE.
Amprius Technologies, Inc. manufactures and distributes lithium-ion batteries. Its products include silicon nanowire anode lithium-ion batteries. The company serves the aerospace, defense, and electric vehicle industries. Amprius Technologies, Inc. was incorporated in 2008 and is headquartered in Fremont, California.
AMPX (Amprius Technologies, Inc.) trades in the Industrials sector, specifically Electrical Equipment & Parts, with a market capitalization of approximately $2.48B, a beta of 2.22 versus the broader market, a 52-week range of 2.34-22.8, average daily share volume of 10.0M, a public-listing history dating back to 2022, approximately 99 full-time employees. These structural characteristics shape how AMPX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.22 indicates AMPX has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.
What is a butterfly on AMPX?
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 AMPX snapshot
As of May 15, 2026, spot at $16.91, ATM IV 86.17%, IV rank 6.45%, expected move 24.71%. The butterfly on AMPX 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 28-day expiry.
Why this butterfly structure on AMPX specifically: AMPX IV at 86.17% is on the cheap side of its 1-year range, which favors premium-buying structures like a AMPX butterfly, with a market-implied 1-standard-deviation move of approximately 24.71% (roughly $4.18 on the underlying). The 28-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated AMPX expiries trade a higher absolute premium for lower per-day decay. Position sizing on AMPX should anchor to the underlying notional of $16.91 per share and to the trader's directional view on AMPX stock.
AMPX butterfly setup
The AMPX 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 AMPX near $16.91, the first option leg uses a $16.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AMPX chain at a 28-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 AMPX shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $16.00 | $2.03 |
| Sell 2 | Call | $17.00 | $1.63 |
| Buy 1 | Call | $18.00 | $1.38 |
AMPX butterfly risk and reward
- Net Premium / Debit
- -$15.00
- Max Profit (per contract)
- $84.99
- Max Loss (per contract)
- -$15.00
- Breakeven(s)
- $16.15, $17.85
- Risk / Reward Ratio
- 5.666
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.
AMPX butterfly payoff curve
Modeled P&L at expiration across a range of underlying prices for the butterfly on AMPX. 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 | -99.9% | -$15.00 |
| $3.75 | -77.8% | -$15.00 |
| $7.49 | -55.7% | -$15.00 |
| $11.22 | -33.6% | -$15.00 |
| $14.96 | -11.5% | -$15.00 |
| $18.70 | +10.6% | -$15.00 |
| $22.44 | +32.7% | -$15.00 |
| $26.17 | +54.8% | -$15.00 |
| $29.91 | +76.9% | -$15.00 |
| $33.65 | +99.0% | -$15.00 |
When traders use butterfly on AMPX
Butterflies on AMPX are pinning bets - traders use them when they expect AMPX 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.
AMPX thesis for this butterfly
The market-implied 1-standard-deviation range for AMPX extends from approximately $12.73 on the downside to $21.09 on the upside. A AMPX long call butterfly is a pinning play: it pays maximum at the middle strike if AMPX settles there at expiration, with the wing legs capping both the cost and the maximum loss to the net debit. Current AMPX IV rank near 6.45% 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 AMPX at 86.17%. As a Industrials name, AMPX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AMPX-specific events.
AMPX 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. AMPX positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move AMPX alongside the broader basket even when AMPX-specific fundamentals are unchanged. Always rebuild the position from current AMPX chain quotes before placing a trade.
Frequently asked questions
- What is a butterfly on AMPX?
- A butterfly on AMPX is the butterfly strategy applied to AMPX (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 AMPX stock trading near $16.91, the strikes shown on this page are snapped to the nearest listed AMPX chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are AMPX 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 AMPX butterfly priced from the end-of-day chain at a 30-day expiry (ATM IV 86.17%), the computed maximum profit is $84.99 per contract and the computed maximum loss is -$15.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a AMPX butterfly?
- The breakeven for the AMPX butterfly priced on this page is roughly $16.15 and $17.85 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 AMPX market-implied 1-standard-deviation expected move is approximately 24.71%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a butterfly on AMPX?
- Butterflies on AMPX are pinning bets - traders use them when they expect AMPX 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 AMPX implied volatility affect this butterfly?
- AMPX ATM IV is at 86.17% with IV rank near 6.45%, 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.