How are JBL 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 JBL butterfly priced from the end-of-day chain at a 30-day expiry (ATM IV 55.15%), the computed maximum profit is $1,385.96 per contract and the computed maximum loss is -$580.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a JBL butterfly?

The breakeven for the JBL butterfly priced on this page is roughly $325.44 and $354.20 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 JBL market-implied 1-standard-deviation expected move is approximately 15.81%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current JBL implied volatility affect this butterfly?

JBL ATM IV is at 55.15% with IV rank near 66.98%, 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.

JBL Butterfly Strategy

JBL (Jabil Inc.), in the Technology sector, (Hardware, Equipment & Parts industry), listed on NYSE.

Jabil Inc. provides manufacturing services and solutions worldwide. The company operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides electronic design services, such as application-specific integrated circuit design, firmware development, and rapid prototyping services; and designs plastic and metal enclosures that include the electro-mechanics, such as the printed circuit board assemblies (PCBA). It also specializes in the three-dimensional mechanical design comprising the analysis of electronic, electro-mechanical, and optical assemblies, as well as offers various industrial design, mechanism development, and tooling management services. In addition, the company provides computer-assisted design services consisting of PCBA design, as well as PCBA design validation and verification services; and other consulting services, such as the generation of a bill of materials, approved vendor list, and assembly equipment configuration for various PCBA designs.

JBL (Jabil Inc.) trades in the Technology sector, specifically Hardware, Equipment & Parts, with a market capitalization of approximately $37.50B, a trailing P/E of 46.79, a beta of 1.29 versus the broader market, a 52-week range of 161.52-372.37, average daily share volume of 1.4M, a public-listing history dating back to 1993, approximately 138K full-time employees. These structural characteristics shape how JBL stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.29 places JBL roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 46.79 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. JBL pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a butterfly on JBL?

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 JBL snapshot

As of May 15, 2026, spot at $341.37, ATM IV 55.15%, IV rank 66.98%, expected move 15.81%. The butterfly on JBL 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 28-day expiry.

Why this butterfly structure on JBL specifically: JBL IV at 55.15% 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 15.81% (roughly $53.97 on the underlying). The 28-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated JBL expiries trade a higher absolute premium for lower per-day decay. Position sizing on JBL should anchor to the underlying notional of $341.37 per share and to the trader's directional view on JBL stock.

JBL butterfly setup

The JBL 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 JBL near $341.37, the first option leg uses a $325.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed JBL chain at a 28-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 JBL shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$325.00	$29.80
Sell 2	Call	$340.00	$20.45
Buy 1	Call	$360.00	$11.90

JBL butterfly risk and reward

Net Premium / Debit: -$80.00
Max Profit (per contract): $1,385.96
Max Loss (per contract): -$580.00
Breakeven(s): $325.44, $354.20
Risk / Reward Ratio: 2.390

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.

JBL butterfly payoff curve

Modeled P&L at expiration across a range of underlying prices for the butterfly on JBL. 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%	-$80.00
$75.49	-77.9%	-$80.00
$150.97	-55.8%	-$80.00
$226.44	-33.7%	-$80.00
$301.92	-11.6%	-$80.00
$377.40	+10.6%	-$580.00
$452.88	+32.7%	-$580.00
$528.35	+54.8%	-$580.00
$603.83	+76.9%	-$580.00
$679.31	+99.0%	-$580.00

When traders use butterfly on JBL

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

JBL thesis for this butterfly

The market-implied 1-standard-deviation range for JBL extends from approximately $287.40 on the downside to $395.34 on the upside. A JBL long call butterfly is a pinning play: it pays maximum at the middle strike if JBL settles there at expiration, with the wing legs capping both the cost and the maximum loss to the net debit. Current JBL IV rank near 66.98% is mid-range against its 1-year distribution, so the IV signal is neutral; the butterfly thesis on JBL should anchor more to the directional view and the expected-move geometry. As a Technology name, JBL options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to JBL-specific events.

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

Frequently asked questions

What is a butterfly on JBL?: A butterfly on JBL is the butterfly strategy applied to JBL (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 JBL stock trading near $341.37, the strikes shown on this page are snapped to the nearest listed JBL chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are JBL 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 JBL butterfly priced from the end-of-day chain at a 30-day expiry (ATM IV 55.15%), the computed maximum profit is $1,385.96 per contract and the computed maximum loss is -$580.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a JBL butterfly?: The breakeven for the JBL butterfly priced on this page is roughly $325.44 and $354.20 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 JBL market-implied 1-standard-deviation expected move is approximately 15.81%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a butterfly on JBL?: Butterflies on JBL are pinning bets - traders use them when they expect JBL 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 JBL implied volatility affect this butterfly?: JBL ATM IV is at 55.15% with IV rank near 66.98%, 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.