ARTV Butterfly Strategy
ARTV (Artiva Biotherapeutics, Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
Artiva Biotherapeutics, Inc. is a clinical-stage biotechnology firm specializing in the development of natural killer (NK) cell-based treatments for individuals afflicted with autoimmune disorders and various forms of cancer. Its flagship therapeutic candidate, AB-101, is an innovative, ready-to-use (off-the-shelf) NK cell therapy. This treatment is being developed for a broad spectrum of conditions, including autoimmune diseases like lupus nephritis, rheumatoid arthritis, pemphigus vulgaris, systemic lupus erythematosus, and specific anti-neutrophil cytoplasmic antibody-associated vasculitis subtypes such as granulomatosis with polyangiitis/microscopic polyangiitis, in addition to B-cell non-Hodgkin lymphoma. The company's pipeline also includes AB-201, an allogeneic anti-human epidermal growth factor receptor 2 chimeric antigen receptor (CAR)-NK cell candidate, and AB-205, another allogeneic anti-CD5 CAR-NK cell candidate. Established in 2019, Artiva Biotherapeutics is headquartered in San Diego, California.
ARTV (Artiva Biotherapeutics, Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $563.7M, a beta of 2.18 versus the broader market, a 52-week range of 2.22-14.53, average daily share volume of 527K, a public-listing history dating back to 2024, approximately 106 full-time employees. These structural characteristics shape how ARTV stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.18 indicates ARTV 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 ARTV?
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.
ARTV snapshot
As of August 14, 2026, spot at $11.54, ATM IV 154.20%, expected move 44.21%. The butterfly on ARTV 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 ARTV specifically: IV rank is unavailable in the current snapshot, so regime-based timing for ARTV is inferred from ATM IV at 154.20% alone, with a market-implied 1-standard-deviation move of approximately 44.21% (roughly $5.10 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 ARTV expiries trade a higher absolute premium for lower per-day decay. Position sizing on ARTV should anchor to the underlying notional of $11.54 per share and to the trader's directional view on ARTV stock.
ARTV butterfly setup
The ARTV 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 ARTV at $11.54 on that close, the first option leg uses a $10.96 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ARTV 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 ARTV shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $10.96 | N/A |
| Sell 2 | Call | $11.54 | N/A |
| Buy 1 | Call | $12.12 | N/A |
ARTV 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.
ARTV butterfly payoff curve
Modeled P&L at expiration across a range of underlying prices for the butterfly on ARTV. 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 ARTV
Butterflies on ARTV are pinning bets - traders use them when they expect ARTV 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.
ARTV thesis for this butterfly
The market-implied 1-standard-deviation range for ARTV extends from approximately $6.44 on the downside to $16.64 on the upside. A ARTV long call butterfly is a pinning play: it pays maximum at the middle strike if ARTV settles there at expiration, with the wing legs capping both the cost and the maximum loss to the net debit. As a Healthcare name, ARTV options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ARTV-specific events.
ARTV 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. ARTV positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ARTV alongside the broader basket even when ARTV-specific fundamentals are unchanged. Always rebuild the position from current ARTV chain quotes before placing a trade.
Frequently asked questions
- What is a butterfly on ARTV?
- A butterfly on ARTV is the butterfly strategy applied to ARTV (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 ARTV stock at $11.54 on the most recent close, the strikes shown on this page are snapped to the nearest listed ARTV chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are ARTV 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 ARTV butterfly priced from the end-of-day chain at a 30-day expiry (ATM IV 154.20%), 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 ARTV butterfly?
- The breakeven for the ARTV 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 ARTV market-implied 1-standard-deviation expected move in the same options snapshot is approximately 44.21%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a butterfly on ARTV?
- Butterflies on ARTV are pinning bets - traders use them when they expect ARTV 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 ARTV implied volatility affect this butterfly?
- Current ARTV ATM IV is 154.20%; IV rank context is unavailable in the current snapshot.