How are QVMT 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 QVMT butterfly priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 23.20%), the computed maximum profit is $263.40 per contract and the computed maximum loss is -$123.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a QVMT butterfly?

The breakeven for the QVMT butterfly priced on this page is roughly $64.11 and $69.77 at expiration, derived from the August 14, 2026 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 QVMT market-implied 1-standard-deviation expected move in the same options snapshot is approximately 6.65%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current QVMT implied volatility affect this butterfly?

Current QVMT ATM IV is 23.20%; IV rank context is unavailable in the current snapshot.

QVMT Butterfly Strategy

QVMT (Invesco S&P 500 Concentrated QVM ETF), in the Financial Services sector, (Asset Management - Global industry), listed on AMEX.

The Invesco S&P 500 Concentrated QVM ETF (SPVU) employs a highly aggressive, value-oriented investment strategy within the S&P 500 universe. It constructs a portfolio of 100 S&P 500 constituents, specifically selecting those with the highest value scores. These scores are rigorously computed using a combination of book-to-price, earnings-to-price, and sales-to-price ratios. The weighting of chosen stocks within the ETF is based on their individual value scores, proportionally adjusted by their market capitalization. This selective approach often leads to a portfolio characterized by significant sector concentrations and a general inclination towards smaller-capitalization companies. By exclusively targeting the top quintile of value stocks, SPVU’s methodology inherently results in distinctive, high-conviction allocations, deliberately bypassing companies that sit closer to the middle of the investment style spectrum.

QVMT (Invesco S&P 500 Concentrated QVM ETF) trades in the Financial Services sector, specifically Asset Management - Global, with a market capitalization of approximately $183.6M, a beta of 0.86 versus the broader market, a 52-week range of 51.96-69.915, average daily share volume of 9K, a public-listing history dating back to 2015. These structural characteristics shape how QVMT stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.86 places QVMT roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. QVMT pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a butterfly on QVMT?

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.

QVMT snapshot

As of August 14, 2026, spot at $67.47, ATM IV 23.20%, expected move 6.65%. The butterfly on QVMT below is built from the August 14, 2026 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 QVMT specifically: IV rank is unavailable in the current snapshot, so regime-based timing for QVMT is inferred from ATM IV at 23.20% alone, with a market-implied 1-standard-deviation move of approximately 6.65% (roughly $4.49 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 QVMT expiries trade a higher absolute premium for lower per-day decay. Position sizing on QVMT should anchor to the underlying notional of $67.47 per share and to the trader's directional view on QVMT stock.

QVMT butterfly setup

The QVMT butterfly below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With QVMT at $67.47 on that close, the first option leg uses a $64.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed QVMT 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 QVMT shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$64.00	$4.10
Sell 2	Call	$67.00	$2.32
Buy 1	Call	$71.00	$0.77

QVMT butterfly risk and reward

Net Premium / Debit: -$23.00
Max Profit (per contract): $263.40
Max Loss (per contract): -$123.00
Breakeven(s): $64.11, $69.77
Risk / Reward Ratio: 2.141

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.

QVMT butterfly payoff curve

Modeled P&L at expiration across a range of underlying prices for the butterfly on QVMT. 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.

P&L at expiration across the modeled underlying-price range. Green shading marks profitable regions, red shading marks loss regions. Dotted purple verticals mark breakevens; the solid dark vertical marks current spot.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-100.0%	-$23.00
$14.93	-77.9%	-$23.00
$29.84	-55.8%	-$23.00
$44.76	-33.7%	-$23.00
$59.68	-11.5%	-$23.00
$74.59	+10.6%	-$123.00
$89.51	+32.7%	-$123.00
$104.43	+54.8%	-$123.00
$119.35	+76.9%	-$123.00
$134.26	+99.0%	-$123.00

When traders use butterfly on QVMT

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

QVMT thesis for this butterfly

The market-implied 1-standard-deviation range for QVMT extends from approximately $62.98 on the downside to $71.96 on the upside. A QVMT long call butterfly is a pinning play: it pays maximum at the middle strike if QVMT settles there at expiration, with the wing legs capping both the cost and the maximum loss to the net debit. As a Financial Services name, QVMT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to QVMT-specific events.

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

Frequently asked questions

What is a butterfly on QVMT?: A butterfly on QVMT is the butterfly strategy applied to QVMT (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 QVMT stock at $67.47 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed QVMT chain strike and the premiums come straight from that session's bid/ask midpoint.
How are QVMT 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 QVMT butterfly priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 23.20%), the computed maximum profit is $263.40 per contract and the computed maximum loss is -$123.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a QVMT butterfly?: The breakeven for the QVMT butterfly priced on this page is roughly $64.11 and $69.77 at expiration, derived from the August 14, 2026 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 QVMT market-implied 1-standard-deviation expected move in the same options snapshot is approximately 6.65%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a butterfly on QVMT?: Butterflies on QVMT are pinning bets - traders use them when they expect QVMT 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 QVMT implied volatility affect this butterfly?: Current QVMT ATM IV is 23.20%; IV rank context is unavailable in the current snapshot.