MYRG Butterfly Strategy
MYRG (MYR Group Inc.), in the Industrials sector, (Engineering & Construction industry), listed on NASDAQ.
Operating across the United States and Canada, MYR Group Inc. is a leading provider of electrical construction services, delivered through its two core divisions: Transmission and Distribution, and Commercial and Industrial. Its Transmission and Distribution division specializes in comprehensive services for electrical transmission and distribution grids, as well as substation infrastructure. These offerings span design, engineering, procurement, construction, enhancements, upkeep, and repairs, primarily targeting clients within the electric utility sector. Key activities include building and maintaining high-voltage transmission lines, substations, and both underground and overhead lower-voltage distribution systems. The segment also handles renewable power installations, some gas construction projects, and critical emergency restoration following natural disasters like hurricanes or ice storms. As a prime contractor, MYR serves a diverse client base, including investor-owned utilities, cooperatives, private developers, government-funded entities, independent power producers, transmission companies, industrial facility owners, and other contractors.
MYRG (MYR Group Inc.) trades in the Industrials sector, specifically Engineering & Construction, with a market capitalization of approximately $7.44B, a trailing P/E of 52.34, a beta of 1.32 versus the broader market, a 52-week range of 171.51-497.09, average daily share volume of 294K, a public-listing history dating back to 2008, approximately 9K full-time employees. These structural characteristics shape how MYRG stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.32 indicates MYRG has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. The trailing P/E of 52.34 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.
What is a butterfly on MYRG?
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 MYRG snapshot
As of June 30, 2026, spot at $498.31, ATM IV 55.00%, IV rank 60.88%, expected move 15.77%. The butterfly on MYRG 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 17-day expiry.
Why this butterfly structure on MYRG specifically: MYRG IV at 55.00% 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 15.77% (roughly $78.57 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated MYRG expiries trade a higher absolute premium for lower per-day decay. Position sizing on MYRG should anchor to the underlying notional of $498.31 per share and to the trader's directional view on MYRG stock.
MYRG butterfly setup
The MYRG 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 MYRG near $498.31, the first option leg uses a $470.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed MYRG chain at a 17-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 MYRG shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $470.00 | $39.50 |
| Sell 2 | Call | $500.00 | $22.60 |
| Buy 1 | Call | $520.00 | $13.50 |
MYRG butterfly risk and reward
- Net Premium / Debit
- -$780.00
- Max Profit (per contract)
- $2,138.10
- Max Loss (per contract)
- -$780.00
- Breakeven(s)
- $477.80
- Risk / Reward Ratio
- 2.741
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.
MYRG butterfly payoff curve
Modeled P&L at expiration across a range of underlying prices for the butterfly on MYRG. 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% | -$780.00 |
| $110.19 | -77.9% | -$780.00 |
| $220.37 | -55.8% | -$780.00 |
| $330.54 | -33.7% | -$780.00 |
| $440.72 | -11.6% | -$780.00 |
| $550.90 | +10.6% | +$220.00 |
| $661.08 | +32.7% | +$220.00 |
| $771.26 | +54.8% | +$220.00 |
| $881.43 | +76.9% | +$220.00 |
| $991.61 | +99.0% | +$220.00 |
When traders use butterfly on MYRG
Butterflies on MYRG are pinning bets - traders use them when they expect MYRG 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.
MYRG thesis for this butterfly
The market-implied 1-standard-deviation range for MYRG extends from approximately $419.74 on the downside to $576.88 on the upside. A MYRG long call butterfly is a pinning play: it pays maximum at the middle strike if MYRG settles there at expiration, with the wing legs capping both the cost and the maximum loss to the net debit. Current MYRG IV rank near 60.88% is mid-range against its 1-year distribution, so the IV signal is neutral; the butterfly thesis on MYRG should anchor more to the directional view and the expected-move geometry. As a Industrials name, MYRG options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to MYRG-specific events.
MYRG 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. MYRG positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move MYRG alongside the broader basket even when MYRG-specific fundamentals are unchanged. Always rebuild the position from current MYRG chain quotes before placing a trade.
Frequently asked questions
- What is a butterfly on MYRG?
- A butterfly on MYRG is the butterfly strategy applied to MYRG (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 MYRG stock trading near $498.31, the strikes shown on this page are snapped to the nearest listed MYRG chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are MYRG 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 MYRG butterfly priced from the end-of-day chain at a 30-day expiry (ATM IV 55.00%), the computed maximum profit is $2,138.10 per contract and the computed maximum loss is -$780.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a MYRG butterfly?
- The breakeven for the MYRG butterfly priced on this page is roughly $477.80 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 MYRG market-implied 1-standard-deviation expected move is approximately 15.77%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a butterfly on MYRG?
- Butterflies on MYRG are pinning bets - traders use them when they expect MYRG 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 MYRG implied volatility affect this butterfly?
- MYRG ATM IV is at 55.00% with IV rank near 60.88%, 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.