How are FLNC 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 FLNC butterfly priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 88.00%), the computed maximum profit is $52.50 per contract and the computed maximum loss is -$47.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a FLNC butterfly?

The breakeven for the FLNC butterfly priced on this page is roughly $13.53 at expiration, derived from the August 14, 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 FLNC market-implied 1-standard-deviation expected move in the same options snapshot is approximately 25.23%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current FLNC implied volatility affect this butterfly?

FLNC ATM IV is at 88.00% with IV rank near 8.65%, 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.

FLNC Butterfly Strategy

FLNC (Fluence Energy, Inc.), in the Utilities sector, (Renewable Utilities industry), listed on NASDAQ.

Fluence Energy, Inc. (FLNC) is a global provider of sophisticated energy storage systems and AI-powered digital applications, specifically designed for renewable energy integration and overall storage optimization. The company's core offering encompasses integrated energy storage products, blending advanced hardware, proprietary software, and intelligent digital controls. Alongside these products, Fluence delivers comprehensive services, including expert engineering and deployment support, ongoing operational maintenance, and a flexible 'energy storage-as-a-service' model. They also develop standalone digital tools and applications. Key among its product portfolio are solutions like Gridstack, an industrial-grade system built for large-scale grid applications; Sunstack, engineered to maximize the efficiency of solar energy capture and distribution; and Edgestack, a commercial-focused solution designed to manage energy loads and smooth demand peaks for businesses. Fluence serves a diverse client base, including major utilities, renewable energy developers, and commercial and industrial enterprises.

FLNC (Fluence Energy, Inc.) trades in the Utilities sector, specifically Renewable Utilities, with a market capitalization of approximately $2.44B, a beta of 2.78 versus the broader market, a 52-week range of 6.602-33.51, average daily share volume of 10.2M, a public-listing history dating back to 2021, approximately 2K full-time employees. These structural characteristics shape how FLNC stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 2.78 indicates FLNC 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 FLNC?

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.

FLNC snapshot

As of August 14, 2026, spot at $13.16, ATM IV 88.00%, IV rank 8.65%, expected move 25.23%. The butterfly on FLNC below is built from the August 14, 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 FLNC specifically: FLNC IV at 88.00% is on the cheap side of its 1-year range, which favors premium-buying structures like a FLNC butterfly, with a market-implied 1-standard-deviation move of approximately 25.23% (roughly $3.32 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 FLNC expiries trade a higher absolute premium for lower per-day decay. Position sizing on FLNC should anchor to the underlying notional of $13.16 per share and to the trader's directional view on FLNC stock.

FLNC butterfly setup

The FLNC butterfly below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With FLNC at $13.16 on that close, the first option leg uses a $13.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed FLNC 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 FLNC shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$13.00	$1.58
Sell 2	Call	$13.00	$1.58
Buy 1	Call	$14.00	$1.05

FLNC butterfly risk and reward

Net Premium / Debit: +$52.50
Max Profit (per contract): $52.50
Max Loss (per contract): -$47.50
Breakeven(s): $13.53
Risk / Reward Ratio: 1.105

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.

FLNC butterfly payoff curve

Modeled P&L at expiration across a range of underlying prices for the butterfly on FLNC. 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%	+$52.50
$2.92	-77.8%	+$52.50
$5.83	-55.7%	+$52.50
$8.74	-33.6%	+$52.50
$11.64	-11.5%	+$52.50
$14.55	+10.6%	-$47.50
$17.46	+32.7%	-$47.50
$20.37	+54.8%	-$47.50
$23.28	+76.9%	-$47.50
$26.19	+99.0%	-$47.50

When traders use butterfly on FLNC

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

FLNC thesis for this butterfly

The market-implied 1-standard-deviation range for FLNC extends from approximately $9.84 on the downside to $16.48 on the upside. A FLNC long call butterfly is a pinning play: it pays maximum at the middle strike if FLNC settles there at expiration, with the wing legs capping both the cost and the maximum loss to the net debit. Current FLNC IV rank near 8.65% 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 FLNC at 88.00%. As a Utilities name, FLNC options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to FLNC-specific events.

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

Frequently asked questions

What is a butterfly on FLNC?: A butterfly on FLNC is the butterfly strategy applied to FLNC (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 FLNC stock at $13.16 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed FLNC chain strike and the premiums come straight from that session's bid/ask midpoint.
How are FLNC 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 FLNC butterfly priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 88.00%), the computed maximum profit is $52.50 per contract and the computed maximum loss is -$47.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a FLNC butterfly?: The breakeven for the FLNC butterfly priced on this page is roughly $13.53 at expiration, derived from the August 14, 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 FLNC market-implied 1-standard-deviation expected move in the same options snapshot is approximately 25.23%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a butterfly on FLNC?: Butterflies on FLNC are pinning bets - traders use them when they expect FLNC 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 FLNC implied volatility affect this butterfly?: FLNC ATM IV is at 88.00% with IV rank near 8.65%, 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.