IESC Butterfly Strategy
IESC (IES Holdings, Inc.), in the Industrials sector, (Engineering & Construction industry), listed on NASDAQ.
IES Holdings, Inc. operates across the United States, specializing in the engineering and implementation of integrated electrical and technology systems, alongside providing essential infrastructure products and related services. Its Commercial & Industrial division offers electrical and mechanical design, construction, and ongoing maintenance support for a diverse range of facilities. These include corporate offices, manufacturing plants, data processing centers, chemical and refining operations, renewable energy sites such as wind and solar farms, municipal infrastructure projects, and healthcare institutions. The Communications segment focuses on designing, installing, and servicing network infrastructure. This work primarily supports data centers catering to co-location and managed hosting clients, in addition to corporate, educational, financial, hospitality, and healthcare buildings, e-commerce fulfillment centers, and advanced manufacturing facilities. Furthermore, this segment provides design and installation expertise for audiovisual, telecommunications, fire suppression, wireless access, and security alarm systems, while also engaging in the development, deployment, and upkeep of data network systems.
IESC (IES Holdings, Inc.) trades in the Industrials sector, specifically Engineering & Construction, with a market capitalization of approximately $15.27B, a trailing P/E of 33.47, a beta of 1.82 versus the broader market, a 52-week range of 309.51-816.51, average daily share volume of 244K, a public-listing history dating back to 1998, approximately 10K full-time employees. These structural characteristics shape how IESC stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.82 indicates IESC 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 IESC?
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.
IESC snapshot
As of August 14, 2026, spot at $756.52, ATM IV 68.80%, IV rank 52.31%, expected move 19.72%. The butterfly on IESC 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 IESC specifically: IESC IV at 68.80% 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 19.72% (roughly $149.22 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 IESC expiries trade a higher absolute premium for lower per-day decay. Position sizing on IESC should anchor to the underlying notional of $756.52 per share and to the trader's directional view on IESC stock.
IESC butterfly setup
The IESC 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 IESC at $756.52 on that close, the first option leg uses a $720.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed IESC 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 IESC shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $720.00 | $83.60 |
| Sell 2 | Call | $760.00 | $62.80 |
| Buy 1 | Call | $790.00 | $50.75 |
IESC butterfly risk and reward
- Net Premium / Debit
- -$875.00
- Max Profit (per contract)
- $3,092.34
- Max Loss (per contract)
- -$875.00
- Breakeven(s)
- $728.75
- Risk / Reward Ratio
- 3.534
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.
IESC butterfly payoff curve
Modeled P&L at expiration across a range of underlying prices for the butterfly on IESC. 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.
| Underlying Price | % From Spot | P&L at Expiration |
|---|---|---|
| $0.01 | -100.0% | -$875.00 |
| $167.28 | -77.9% | -$875.00 |
| $334.55 | -55.8% | -$875.00 |
| $501.82 | -33.7% | -$875.00 |
| $669.09 | -11.6% | -$875.00 |
| $836.36 | +10.6% | +$125.00 |
| $1,003.63 | +32.7% | +$125.00 |
| $1,170.90 | +54.8% | +$125.00 |
| $1,338.17 | +76.9% | +$125.00 |
| $1,505.44 | +99.0% | +$125.00 |
When traders use butterfly on IESC
Butterflies on IESC are pinning bets - traders use them when they expect IESC 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.
IESC thesis for this butterfly
The market-implied 1-standard-deviation range for IESC extends from approximately $607.30 on the downside to $905.74 on the upside. A IESC long call butterfly is a pinning play: it pays maximum at the middle strike if IESC settles there at expiration, with the wing legs capping both the cost and the maximum loss to the net debit. Current IESC IV rank near 52.31% is mid-range against its 1-year distribution, so the IV signal is neutral; the butterfly thesis on IESC should anchor more to the directional view and the expected-move geometry. As a Industrials name, IESC options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to IESC-specific events.
IESC 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. IESC positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move IESC alongside the broader basket even when IESC-specific fundamentals are unchanged. Always rebuild the position from current IESC chain quotes before placing a trade.
Frequently asked questions
- What is a butterfly on IESC?
- A butterfly on IESC is the butterfly strategy applied to IESC (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 IESC stock at $756.52 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed IESC chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are IESC 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 IESC butterfly priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 68.80%), the computed maximum profit is $3,092.34 per contract and the computed maximum loss is -$875.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a IESC butterfly?
- The breakeven for the IESC butterfly priced on this page is roughly $728.75 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 IESC market-implied 1-standard-deviation expected move in the same options snapshot is approximately 19.72%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a butterfly on IESC?
- Butterflies on IESC are pinning bets - traders use them when they expect IESC 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 IESC implied volatility affect this butterfly?
- IESC ATM IV is at 68.80% with IV rank near 52.31%, 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.