How are JBTM 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 JBTM butterfly priced from the end-of-day chain at a 30-day expiry (ATM IV 43.60%), the computed maximum profit is $410.50 per contract and the computed maximum loss is -$65.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a JBTM butterfly?

The breakeven for the JBTM butterfly priced on this page is roughly $120.55 and $129.35 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 JBTM market-implied 1-standard-deviation expected move is approximately 12.50%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current JBTM implied volatility affect this butterfly?

JBTM ATM IV is at 43.60% with IV rank near 37.74%, 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.

JBTM Butterfly Strategy

JBTM (JBT Marel Corporation), in the Industrials sector, (Industrial - Machinery industry), listed on NYSE.

JBT Marel Corporation provides technology solutions to food and beverage industry in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It offers value-added processing that includes chilling, mixing/grinding, injecting, blending, marinating, tumbling, flattening, forming, portioning, coating, cooking, frying, freezing, extracting, pasteurizing, sterilizing, concentrating, high pressure processing, weighing, inspecting, filling, closing, sealing, end of line material handling, and packaging solutions to the food, beverage, and health market. In addition, it offers automated guided vehicle systems for material movement in the manufacturing, warehouse, and medical facilities. It serves baby food, bakery and confectionery, citrus processing, fruits and nuts, juices, non-food, pet food, pharmaceutical, plant- based beverages and protein, poultry, meat, and seafood, ready meals, oils, soups, sauces, seasoning and dressings, automotive, building material, tissue, paper, and packaging, hospitals, pharma and life sciences, fast moving consumer goods, manufacturing, warehousing, and other industries. The company markets and sells its products and solutions through direct sales force, independent distributors, sales representatives, and technical service teams. The company was formerly known as John Bean Technologies Corporation and changed its name to JBT Marel Corporation in January 2025.

JBTM (JBT Marel Corporation) trades in the Industrials sector, specifically Industrial - Machinery, with a market capitalization of approximately $6.51B, a trailing P/E of 38.99, a beta of 0.92 versus the broader market, a 52-week range of 111.07-170.19, average daily share volume of 610K, a public-listing history dating back to 2008, approximately 12K full-time employees. These structural characteristics shape how JBTM stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.92 places JBTM roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 38.99 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. JBTM pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a butterfly on JBTM?

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 JBTM snapshot

As of May 15, 2026, spot at $125.38, ATM IV 43.60%, IV rank 37.74%, expected move 12.50%. The butterfly on JBTM 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 JBTM specifically: JBTM IV at 43.60% 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 12.50% (roughly $15.67 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 JBTM expiries trade a higher absolute premium for lower per-day decay. Position sizing on JBTM should anchor to the underlying notional of $125.38 per share and to the trader's directional view on JBTM stock.

JBTM butterfly setup

The JBTM 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 JBTM near $125.38, the first option leg uses a $120.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed JBTM 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 JBTM shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$120.00	$9.90
Sell 2	Call	$125.00	$7.10
Buy 1	Call	$130.00	$4.95

JBTM butterfly risk and reward

Net Premium / Debit: -$65.00
Max Profit (per contract): $410.50
Max Loss (per contract): -$65.00
Breakeven(s): $120.55, $129.35
Risk / Reward Ratio: 6.315

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.

JBTM butterfly payoff curve

Modeled P&L at expiration across a range of underlying prices for the butterfly on JBTM. 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%	-$65.00
$27.73	-77.9%	-$65.00
$55.45	-55.8%	-$65.00
$83.17	-33.7%	-$65.00
$110.89	-11.6%	-$65.00
$138.62	+10.6%	-$65.00
$166.34	+32.7%	-$65.00
$194.06	+54.8%	-$65.00
$221.78	+76.9%	-$65.00
$249.50	+99.0%	-$65.00

When traders use butterfly on JBTM

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

JBTM thesis for this butterfly

The market-implied 1-standard-deviation range for JBTM extends from approximately $109.71 on the downside to $141.05 on the upside. A JBTM long call butterfly is a pinning play: it pays maximum at the middle strike if JBTM settles there at expiration, with the wing legs capping both the cost and the maximum loss to the net debit. Current JBTM IV rank near 37.74% is mid-range against its 1-year distribution, so the IV signal is neutral; the butterfly thesis on JBTM should anchor more to the directional view and the expected-move geometry. As a Industrials name, JBTM options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to JBTM-specific events.

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

Frequently asked questions

What is a butterfly on JBTM?: A butterfly on JBTM is the butterfly strategy applied to JBTM (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 JBTM stock trading near $125.38, the strikes shown on this page are snapped to the nearest listed JBTM chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are JBTM 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 JBTM butterfly priced from the end-of-day chain at a 30-day expiry (ATM IV 43.60%), the computed maximum profit is $410.50 per contract and the computed maximum loss is -$65.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a JBTM butterfly?: The breakeven for the JBTM butterfly priced on this page is roughly $120.55 and $129.35 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 JBTM market-implied 1-standard-deviation expected move is approximately 12.50%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a butterfly on JBTM?: Butterflies on JBTM are pinning bets - traders use them when they expect JBTM 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 JBTM implied volatility affect this butterfly?: JBTM ATM IV is at 43.60% with IV rank near 37.74%, 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.