QTRX Butterfly Strategy
QTRX (Quanterix Corporation), in the Healthcare sector, (Medical - Devices industry), listed on NASDAQ.
Quanterix Corporation, a life sciences company, engages in development and marketing of digital immunoassay platforms that advances precision health for life sciences research and diagnostics in North America, Europe, the Middle East, Africa, and the Asia Pacific regions. It offers HD-X instrument, a sensitive automated multiplex protein detection platform; and SR-X instrument that enables researchers to apply Simoa detection technology in various applications, including direct detection of nucleic acids. The company also provides SP-X instrument that is based on Simoa planar array technology for the measurement of multiplex chemiluminescent immunoassays. The company's products include assay kits and other consumables such as reagents. In addition, it offers contract research services, including sample testing, homebrew assay development, and custom development services. The company primarily operates in the areas of neurology, oncology, cardiology, infectious diseases, and inflammation.
QTRX (Quanterix Corporation) trades in the Healthcare sector, specifically Medical - Devices, with a market capitalization of approximately $135.7M, a beta of 1.15 versus the broader market, a 52-week range of 2.56-8.77, average daily share volume of 982K, a public-listing history dating back to 2017, approximately 471 full-time employees. These structural characteristics shape how QTRX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.15 places QTRX roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.
What is a butterfly on QTRX?
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 QTRX snapshot
As of May 15, 2026, spot at $2.79, ATM IV 104.20%, IV rank 31.38%, expected move 29.87%. The butterfly on QTRX 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 QTRX specifically: QTRX IV at 104.20% 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 29.87% (roughly $0.83 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 QTRX expiries trade a higher absolute premium for lower per-day decay. Position sizing on QTRX should anchor to the underlying notional of $2.79 per share and to the trader's directional view on QTRX stock.
QTRX butterfly setup
The QTRX 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 QTRX near $2.79, the first option leg uses a $2.65 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed QTRX 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 QTRX shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $2.65 | N/A |
| Sell 2 | Call | $2.79 | N/A |
| Buy 1 | Call | $2.93 | N/A |
QTRX 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.
QTRX butterfly payoff curve
Modeled P&L at expiration across a range of underlying prices for the butterfly on QTRX. 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 QTRX
Butterflies on QTRX are pinning bets - traders use them when they expect QTRX 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.
QTRX thesis for this butterfly
The market-implied 1-standard-deviation range for QTRX extends from approximately $1.96 on the downside to $3.62 on the upside. A QTRX long call butterfly is a pinning play: it pays maximum at the middle strike if QTRX settles there at expiration, with the wing legs capping both the cost and the maximum loss to the net debit. Current QTRX IV rank near 31.38% is mid-range against its 1-year distribution, so the IV signal is neutral; the butterfly thesis on QTRX should anchor more to the directional view and the expected-move geometry. As a Healthcare name, QTRX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to QTRX-specific events.
QTRX 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. QTRX positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move QTRX alongside the broader basket even when QTRX-specific fundamentals are unchanged. Always rebuild the position from current QTRX chain quotes before placing a trade.
Frequently asked questions
- What is a butterfly on QTRX?
- A butterfly on QTRX is the butterfly strategy applied to QTRX (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 QTRX stock trading near $2.79, the strikes shown on this page are snapped to the nearest listed QTRX chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are QTRX 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 QTRX butterfly priced from the end-of-day chain at a 30-day expiry (ATM IV 104.20%), 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 QTRX butterfly?
- The breakeven for the QTRX butterfly priced on this page is no defined breakeven on the modeled curve 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 QTRX market-implied 1-standard-deviation expected move is approximately 29.87%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a butterfly on QTRX?
- Butterflies on QTRX are pinning bets - traders use them when they expect QTRX 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 QTRX implied volatility affect this butterfly?
- QTRX ATM IV is at 104.20% with IV rank near 31.38%, 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.