How are RBRK 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 RBRK butterfly priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 75.60%), the computed maximum profit is $424.12 per contract and the computed maximum loss is -$50.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a RBRK butterfly?

The breakeven for the RBRK butterfly priced on this page is roughly $97.42 and $106.50 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 RBRK market-implied 1-standard-deviation expected move in the same options snapshot is approximately 21.67%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current RBRK implied volatility affect this butterfly?

RBRK ATM IV is at 75.60% with IV rank near 43.01%, 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.

RBRK Butterfly Strategy

RBRK (Rubrik, Inc.), in the Technology sector, (Software - Infrastructure industry), listed on NYSE.

Rubrik, Inc. operates as a global provider of advanced data security solutions, catering to a wide range of individuals and businesses. The company's comprehensive suite of offerings addresses various aspects of data protection, including securing enterprise data, unstructured data, cloud environments, and Software-as-a-Service (SaaS) applications. Beyond foundational protection, Rubrik also furnishes tools for data threat analytics, assessing an organization's security posture, and critical cyber recovery capabilities to aid in post-incident remediation. Rubrik serves an extensive array of sectors, counting financial services, retail, trade, transportation, energy, industrial, healthcare, life sciences, education, technology, media, communications, and government entities among its clientele. Established in 2013, the company was initially known as Scaledata, Inc., rebranding to Rubrik, Inc. in October 2014. Its corporate headquarters are situated in Palo Alto, California.

RBRK (Rubrik, Inc.) trades in the Technology sector, specifically Software - Infrastructure, with a market capitalization of approximately $19.91B, a beta of 1.17 versus the broader market, a 52-week range of 42.25-99.95, average daily share volume of 3.5M, a public-listing history dating back to 2024, approximately 4K full-time employees. These structural characteristics shape how RBRK stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.17 places RBRK roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.

What is a butterfly on RBRK?

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.

RBRK snapshot

As of August 14, 2026, spot at $102.25, ATM IV 75.60%, IV rank 43.01%, expected move 21.67%. The butterfly on RBRK 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 28-day expiry.

Why this butterfly structure on RBRK specifically: RBRK IV at 75.60% 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 21.67% (roughly $22.16 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 RBRK expiries trade a higher absolute premium for lower per-day decay. Position sizing on RBRK should anchor to the underlying notional of $102.25 per share and to the trader's directional view on RBRK stock.

RBRK butterfly setup

The RBRK 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 RBRK at $102.25 on that close, the first option leg uses a $97.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed RBRK 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 RBRK shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$97.00	$11.15
Sell 2	Call	$102.00	$8.70
Buy 1	Call	$107.00	$6.75

RBRK butterfly risk and reward

Net Premium / Debit: -$50.00
Max Profit (per contract): $424.12
Max Loss (per contract): -$50.00
Breakeven(s): $97.42, $106.50
Risk / Reward Ratio: 8.482

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.

RBRK butterfly payoff curve

Modeled P&L at expiration across a range of underlying prices for the butterfly on RBRK. 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%	-$50.00
$22.62	-77.9%	-$50.00
$45.22	-55.8%	-$50.00
$67.83	-33.7%	-$50.00
$90.44	-11.6%	-$50.00
$113.04	+10.6%	-$50.00
$135.65	+32.7%	-$50.00
$158.26	+54.8%	-$50.00
$180.87	+76.9%	-$50.00
$203.47	+99.0%	-$50.00

When traders use butterfly on RBRK

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

RBRK thesis for this butterfly

The market-implied 1-standard-deviation range for RBRK extends from approximately $80.09 on the downside to $124.41 on the upside. A RBRK long call butterfly is a pinning play: it pays maximum at the middle strike if RBRK settles there at expiration, with the wing legs capping both the cost and the maximum loss to the net debit. Current RBRK IV rank near 43.01% is mid-range against its 1-year distribution, so the IV signal is neutral; the butterfly thesis on RBRK should anchor more to the directional view and the expected-move geometry. As a Technology name, RBRK options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to RBRK-specific events.

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

Frequently asked questions

What is a butterfly on RBRK?: A butterfly on RBRK is the butterfly strategy applied to RBRK (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 RBRK stock at $102.25 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed RBRK chain strike and the premiums come straight from that session's bid/ask midpoint.
How are RBRK 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 RBRK butterfly priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 75.60%), the computed maximum profit is $424.12 per contract and the computed maximum loss is -$50.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a RBRK butterfly?: The breakeven for the RBRK butterfly priced on this page is roughly $97.42 and $106.50 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 RBRK market-implied 1-standard-deviation expected move in the same options snapshot is approximately 21.67%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a butterfly on RBRK?: Butterflies on RBRK are pinning bets - traders use them when they expect RBRK 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 RBRK implied volatility affect this butterfly?: RBRK ATM IV is at 75.60% with IV rank near 43.01%, 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.