EVCM Butterfly Strategy
EVCM (EverCommerce Inc.), in the Technology sector, (Software - Infrastructure industry), listed on NASDAQ.
EverCommerce Inc., together with its subsidiaries, engages in providing integrated software-as-a-service solutions for service-based small and medium sized businesses in the United States and internationally. The company's solutions include business management software, including route-based dispatching, medical practice management, and gym member management solutions; billing and payment solutions that comprise e-invoicing, mobile payments, and integrated payment processing; customer engagement applications, which include reputation management and messaging solutions; and marketing technology solutions that cover websites, hosting, and digital lead generation. It also provides EverPro suite of solutions in home services; EverHealth suite of solutions within health services; and EverWell suite of solutions in fitness and wellness services. In addition, the company offers professional services, including implementation, configuration, installation, or training services. It serves home service professionals, such as home improvement contractors and home maintenance technicians; physician practices and therapists in the health services industry; and personal trainers and salon owners in the fitness and wellness sectors. The company was formerly known as PaySimple Holdings, Inc. and changed its name to EverCommerce Inc. in December 2020.
EVCM (EverCommerce Inc.) trades in the Technology sector, specifically Software - Infrastructure, with a market capitalization of approximately $1.72B, a trailing P/E of 53.06, a beta of 0.94 versus the broader market, a 52-week range of 7.66-14.41, average daily share volume of 135K, a public-listing history dating back to 2021, approximately 2K full-time employees. These structural characteristics shape how EVCM stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.94 places EVCM roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 53.06 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 EVCM?
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 EVCM snapshot
As of May 15, 2026, spot at $9.57, ATM IV 133.90%, IV rank 44.54%, expected move 38.39%. The butterfly on EVCM 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 34-day expiry.
Why this butterfly structure on EVCM specifically: EVCM IV at 133.90% 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 38.39% (roughly $3.67 on the underlying). The 34-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated EVCM expiries trade a higher absolute premium for lower per-day decay. Position sizing on EVCM should anchor to the underlying notional of $9.57 per share and to the trader's directional view on EVCM stock.
EVCM butterfly setup
The EVCM 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 EVCM near $9.57, the first option leg uses a $9.09 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed EVCM chain at a 34-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 EVCM shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $9.09 | N/A |
| Sell 2 | Call | $9.57 | N/A |
| Buy 1 | Call | $10.05 | N/A |
EVCM 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.
EVCM butterfly payoff curve
Modeled P&L at expiration across a range of underlying prices for the butterfly on EVCM. 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 EVCM
Butterflies on EVCM are pinning bets - traders use them when they expect EVCM 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.
EVCM thesis for this butterfly
The market-implied 1-standard-deviation range for EVCM extends from approximately $5.90 on the downside to $13.24 on the upside. A EVCM long call butterfly is a pinning play: it pays maximum at the middle strike if EVCM settles there at expiration, with the wing legs capping both the cost and the maximum loss to the net debit. Current EVCM IV rank near 44.54% is mid-range against its 1-year distribution, so the IV signal is neutral; the butterfly thesis on EVCM should anchor more to the directional view and the expected-move geometry. As a Technology name, EVCM options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to EVCM-specific events.
EVCM 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. EVCM positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move EVCM alongside the broader basket even when EVCM-specific fundamentals are unchanged. Always rebuild the position from current EVCM chain quotes before placing a trade.
Frequently asked questions
- What is a butterfly on EVCM?
- A butterfly on EVCM is the butterfly strategy applied to EVCM (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 EVCM stock trading near $9.57, the strikes shown on this page are snapped to the nearest listed EVCM chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are EVCM 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 EVCM butterfly priced from the end-of-day chain at a 30-day expiry (ATM IV 133.90%), 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 EVCM butterfly?
- The breakeven for the EVCM 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 EVCM market-implied 1-standard-deviation expected move is approximately 38.39%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a butterfly on EVCM?
- Butterflies on EVCM are pinning bets - traders use them when they expect EVCM 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 EVCM implied volatility affect this butterfly?
- EVCM ATM IV is at 133.90% with IV rank near 44.54%, 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.