INTR Butterfly Strategy
INTR (Inter & Co, Inc.), in the Financial Services sector, (Banks - Regional industry), listed on NASDAQ.
Inter & Co, Inc., a Brazilian enterprise established in 1994 and headquartered in Belo Horizonte, conducts a broad array of operations through its subsidiary companies. Its diverse business model encompasses banking, investment services, insurance intermediation, e-commerce, asset administration, and various support services. The company's Banking division delivers a full suite of financial products, including current accounts, payment cards, deposit options, credit and lending facilities, alongside other related financial solutions. Within its Securities segment, Inter & Co handles the acquisition, divestment, and safekeeping of financial instruments. It also provides portfolio management services and is responsible for establishing, organizing, and managing investment funds. The Insurance Brokerage arm offers an extensive selection of insurance policies, covering areas such as life, property, automobiles, financial protection, lost or stolen credit cards, dental care, warranties, travel, and credit protection.
INTR (Inter & Co, Inc.) trades in the Financial Services sector, specifically Banks - Regional, with a market capitalization of approximately $2.23B, a trailing P/E of 7.53, a beta of 0.96 versus the broader market, a 52-week range of 5.04-10.36, average daily share volume of 5.5M, a public-listing history dating back to 2022, approximately 4K full-time employees. These structural characteristics shape how INTR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.96 places INTR roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 7.53 is on the value side, where IV often compresses outside event windows because forward growth expectations are already discounted into the share price. INTR pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a butterfly on INTR?
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.
INTR snapshot
As of August 14, 2026, spot at $5.21, ATM IV 54.50%, IV rank 12.97%, expected move 15.62%. The butterfly on INTR below is built from the 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 INTR specifically: INTR IV at 54.50% is on the cheap side of its 1-year range, which favors premium-buying structures like a INTR butterfly, with a market-implied 1-standard-deviation move of approximately 15.62% (roughly $0.81 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 INTR expiries trade a higher absolute premium for lower per-day decay. Position sizing on INTR should anchor to the underlying notional of $5.21 per share and to the trader's directional view on INTR stock.
INTR butterfly setup
The INTR 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 INTR at $5.21 on that close, the first option leg uses a $4.95 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed INTR 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 INTR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $4.95 | N/A |
| Sell 2 | Call | $5.21 | N/A |
| Buy 1 | Call | $5.47 | N/A |
INTR 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.
INTR butterfly payoff curve
Modeled P&L at expiration across a range of underlying prices for the butterfly on INTR. 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 INTR
Butterflies on INTR are pinning bets - traders use them when they expect INTR 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.
INTR thesis for this butterfly
The market-implied 1-standard-deviation range for INTR extends from approximately $4.40 on the downside to $6.02 on the upside. A INTR long call butterfly is a pinning play: it pays maximum at the middle strike if INTR settles there at expiration, with the wing legs capping both the cost and the maximum loss to the net debit. Current INTR IV rank near 12.97% 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 INTR at 54.50%. As a Financial Services name, INTR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to INTR-specific events.
INTR 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. INTR positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move INTR alongside the broader basket even when INTR-specific fundamentals are unchanged. Always rebuild the position from current INTR chain quotes before placing a trade.
Frequently asked questions
- What is a butterfly on INTR?
- A butterfly on INTR is the butterfly strategy applied to INTR (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 INTR stock at $5.21 on the most recent close, the strikes shown on this page are snapped to the nearest listed INTR chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are INTR 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 INTR butterfly priced from the end-of-day chain at a 30-day expiry (ATM IV 54.50%), 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 INTR butterfly?
- The breakeven for the INTR butterfly priced on this page is no defined breakeven on the modeled curve at expiration, derived from the 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 INTR market-implied 1-standard-deviation expected move in the same options snapshot is approximately 15.62%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a butterfly on INTR?
- Butterflies on INTR are pinning bets - traders use them when they expect INTR 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 INTR implied volatility affect this butterfly?
- INTR ATM IV is at 54.50% with IV rank near 12.97%, 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.