How are AVPT 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 AVPT butterfly priced from the November 13, 2026 end-of-day chain at a 30-day expiry (ATM IV 39.20%), the computed maximum profit is $45.00 per contract and the computed maximum loss is -$55.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a AVPT butterfly?

The breakeven for the AVPT butterfly priced on this page is roughly $16.55 at expiration, derived from the November 13, 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 AVPT market-implied 1-standard-deviation expected move in the same options snapshot is approximately 11.24%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current AVPT implied volatility affect this butterfly?

AVPT ATM IV is at 39.20% with IV rank near 12.62%, 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.

AVPT Butterfly Strategy

AVPT (AvePoint, Inc.), in the Technology sector, (Software - Infrastructure industry), listed on NASDAQ.

AvePoint, Inc. provides cloud-native data management software platform in North America, Europe, the Middle East, Africa, and the Asia Pacific. It also provides platform-as-a-service architecture to address critical operational challenges and the management of data to organizations that leverage third-party cloud vendors, including Microsoft, Salesforce, Google, AWS, Box, DropBox, and others; license and support; and maintenance services. Further, it provides AvePoint confidence platform including control suite, automates data governance, enforces policies, and optimizes SaaS investments, enables expense management and reduction, and provides insight into access, risk, and entitlements across collaborative platforms; resilience suite, that supports business continuity and compliance through Backup-as-a-Service, ransomware recovery, lifecycle management, and classification-driven protection; and modernization suite, that modernizes legacy systems and processes into AI-ready, SaaS-based experiences to accelerate employee engagement, digital transformation, and productivity. AvePoint, Inc. was incorporated in 2001 and is headquartered in Jersey City, New Jersey.

AVPT (AvePoint, Inc.) trades in the Technology sector, specifically Software - Infrastructure, with a market capitalization of approximately $3.48B, a trailing P/E of 45.60, a beta of 1.09 versus the broader market, a 52-week range of 8.835-17.52, average daily share volume of 2.5M, a public-listing history dating back to 2019, approximately 3K full-time employees. These structural characteristics shape how AVPT stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.09 places AVPT roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 45.60 is on the rich side, which tends to correlate with higher earnings-window IV expansion as the market debates whether forward growth supports the multiple.

What is a butterfly on AVPT?

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.

AVPT snapshot

As of November 13, 2026, spot at $16.52, ATM IV 39.20%, IV rank 12.62%, expected move 11.24%. The butterfly on AVPT below is built from the November 13, 2026 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 AVPT specifically: AVPT IV at 39.20% is on the cheap side of its 1-year range, which favors premium-buying structures like a AVPT butterfly, with a market-implied 1-standard-deviation move of approximately 11.24% (roughly $1.86 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 AVPT expiries trade a higher absolute premium for lower per-day decay. Position sizing on AVPT should anchor to the underlying notional of $16.52 per share and to the trader's directional view on AVPT stock.

AVPT butterfly setup

The AVPT butterfly below is built from the November 13, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With AVPT at $16.52 on that close, 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 AVPT 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 AVPT shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$16.00	$1.18
Sell 2	Call	$17.00	$0.63
Buy 1	Call	$17.00	$0.63

AVPT butterfly risk and reward

Net Premium / Debit: -$55.00
Max Profit (per contract): $45.00
Max Loss (per contract): -$55.00
Breakeven(s): $16.55
Risk / Reward Ratio: 0.818

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.

AVPT butterfly payoff curve

Modeled P&L at expiration across a range of underlying prices for the butterfly on AVPT. 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	-99.9%	-$55.00
$3.66	-77.8%	-$55.00
$7.31	-55.7%	-$55.00
$10.96	-33.6%	-$55.00
$14.62	-11.5%	-$55.00
$18.27	+10.6%	+$45.00
$21.92	+32.7%	+$45.00
$25.57	+54.8%	+$45.00
$29.22	+76.9%	+$45.00
$32.87	+99.0%	+$45.00

When traders use butterfly on AVPT

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

AVPT thesis for this butterfly

The market-implied 1-standard-deviation range for AVPT extends from approximately $14.66 on the downside to $18.38 on the upside. A AVPT long call butterfly is a pinning play: it pays maximum at the middle strike if AVPT settles there at expiration, with the wing legs capping both the cost and the maximum loss to the net debit. Current AVPT IV rank near 12.62% 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 AVPT at 39.20%. As a Technology name, AVPT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AVPT-specific events.

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

Frequently asked questions

What is a butterfly on AVPT?: A butterfly on AVPT is the butterfly strategy applied to AVPT (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 AVPT stock at $16.52 on the November 13, 2026 close, the strikes shown on this page are snapped to the nearest listed AVPT chain strike and the premiums come straight from that session's bid/ask midpoint.
How are AVPT 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 AVPT butterfly priced from the November 13, 2026 end-of-day chain at a 30-day expiry (ATM IV 39.20%), the computed maximum profit is $45.00 per contract and the computed maximum loss is -$55.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a AVPT butterfly?: The breakeven for the AVPT butterfly priced on this page is roughly $16.55 at expiration, derived from the November 13, 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 AVPT market-implied 1-standard-deviation expected move in the same options snapshot is approximately 11.24%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a butterfly on AVPT?: Butterflies on AVPT are pinning bets - traders use them when they expect AVPT 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 AVPT implied volatility affect this butterfly?: AVPT ATM IV is at 39.20% with IV rank near 12.62%, 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.