ASTI Butterfly Strategy
ASTI (Ascent Solar Technologies, Inc. Common Stock), in the Energy sector, (Solar industry), listed on NASDAQ.
Ascent Solar Technologies, Inc. specializes in the development, production, and distribution of copper-indium-gallium-diselenide (CIGS) photovoltaic products. These solar energy solutions are engineered for diverse applications, spanning the aerospace industry, defense sector, emergency management, and both consumer and original equipment manufacturer (OEM) demands. A notable offering includes their outdoor solar charging devices. The company markets and distributes its goods via a comprehensive network of OEMs, system integrators, wholesalers, retailers, and online e-commerce channels. Founded in 2005, Ascent Solar Technologies, Inc. maintains its primary offices in Thornton, Colorado.
ASTI (Ascent Solar Technologies, Inc. Common Stock) trades in the Energy sector, specifically Solar, with a market capitalization of approximately $17.0M, a beta of 2.03 versus the broader market, a 52-week range of 1.4-9.87, average daily share volume of 1.9M, a public-listing history dating back to 2022, approximately 16 full-time employees. These structural characteristics shape how ASTI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.03 indicates ASTI 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 ASTI?
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 ASTI snapshot
As of June 29, 2026, spot at $5.05, ATM IV 175.30%, IV rank 28.88%, expected move 50.26%. The butterfly on ASTI 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 18-day expiry.
Why this butterfly structure on ASTI specifically: ASTI IV at 175.30% is on the cheap side of its 1-year range, which favors premium-buying structures like a ASTI butterfly, with a market-implied 1-standard-deviation move of approximately 50.26% (roughly $2.54 on the underlying). The 18-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated ASTI expiries trade a higher absolute premium for lower per-day decay. Position sizing on ASTI should anchor to the underlying notional of $5.05 per share and to the trader's directional view on ASTI stock.
ASTI butterfly setup
The ASTI 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 ASTI near $5.05, the first option leg uses a $4.80 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ASTI chain at a 18-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 ASTI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $4.80 | N/A |
| Sell 2 | Call | $5.05 | N/A |
| Buy 1 | Call | $5.30 | N/A |
ASTI 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.
ASTI butterfly payoff curve
Modeled P&L at expiration across a range of underlying prices for the butterfly on ASTI. 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 ASTI
Butterflies on ASTI are pinning bets - traders use them when they expect ASTI 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.
ASTI thesis for this butterfly
The market-implied 1-standard-deviation range for ASTI extends from approximately $2.51 on the downside to $7.59 on the upside. A ASTI long call butterfly is a pinning play: it pays maximum at the middle strike if ASTI settles there at expiration, with the wing legs capping both the cost and the maximum loss to the net debit. Current ASTI IV rank near 28.88% 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 ASTI at 175.30%. As a Energy name, ASTI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ASTI-specific events.
ASTI 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. ASTI positions also carry Energy sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ASTI alongside the broader basket even when ASTI-specific fundamentals are unchanged. Always rebuild the position from current ASTI chain quotes before placing a trade.
Frequently asked questions
- What is a butterfly on ASTI?
- A butterfly on ASTI is the butterfly strategy applied to ASTI (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 ASTI stock trading near $5.05, the strikes shown on this page are snapped to the nearest listed ASTI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are ASTI 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 ASTI butterfly priced from the end-of-day chain at a 30-day expiry (ATM IV 175.30%), 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 ASTI butterfly?
- The breakeven for the ASTI butterfly priced on this page is no defined breakeven on the modeled curve 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 ASTI market-implied 1-standard-deviation expected move is approximately 50.26%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a butterfly on ASTI?
- Butterflies on ASTI are pinning bets - traders use them when they expect ASTI 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 ASTI implied volatility affect this butterfly?
- ASTI ATM IV is at 175.30% with IV rank near 28.88%, 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.