SUPV Butterfly Strategy
SUPV (Grupo Supervielle S.A.), in the Financial Services sector, (Banks - Regional industry), listed on NYSE.
Grupo Supervielle S.A., a financial services holding company, provides various banking products and services in Argentina. The company operates through Personal and Business Banking, Corporate Banking, Treasury and Finance, Capital Markets and Structuring, and Support Areas segments. It offers savings accounts, time and demand deposits, and checking accounts; various loan products, including personal, consumer, mortgage, unsecured, and car loans; overdrafts; loans with special facilities for project and working capital financing; and leasing, bank guarantees for tenants, salary advances, domestic and international factoring, international guarantees and letters of credit, payroll payment plans, credit cards, debit cards, and senior citizens benefit payment services, as well as financial services and investments, such as mutual funds and guarantees. The company also provides foreign trade and cash management; advisory services; treasury services; insurance products comprising personal accidents, protected bag, unemployment, total protection, and pets insurance policies; and asset management and other services, as well as operates as an online broker. As of December 31, 2021, it operates through a network of 298 access points, including 184 bank branches, 10 banking sales and collection centers, 79 points of sales, 20 Tarjeta Automática branches, and 5 Mila branches, as well as 450 ATMs, 230 self-service terminals, and 298 ATMs with biometric identification. The company was formerly known as Inversiones y Participaciones S.A. and changed its name to Grupo Supervielle S.A. in November 2008.
SUPV (Grupo Supervielle S.A.) trades in the Financial Services sector, specifically Banks - Regional, with a market capitalization of approximately $668.0M, a beta of 0.41 versus the broader market, a 52-week range of 4.54-16.897, average daily share volume of 835K, a public-listing history dating back to 2016, approximately 3K full-time employees. These structural characteristics shape how SUPV stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.41 indicates SUPV has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. SUPV pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a butterfly on SUPV?
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 SUPV snapshot
As of May 15, 2026, spot at $7.63, ATM IV 42.30%, IV rank 15.05%, expected move 12.13%. The butterfly on SUPV 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 SUPV specifically: SUPV IV at 42.30% is on the cheap side of its 1-year range, which favors premium-buying structures like a SUPV butterfly, with a market-implied 1-standard-deviation move of approximately 12.13% (roughly $0.93 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 SUPV expiries trade a higher absolute premium for lower per-day decay. Position sizing on SUPV should anchor to the underlying notional of $7.63 per share and to the trader's directional view on SUPV stock.
SUPV butterfly setup
The SUPV 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 SUPV near $7.63, the first option leg uses a $7.25 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed SUPV 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 SUPV shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $7.25 | N/A |
| Sell 2 | Call | $7.63 | N/A |
| Buy 1 | Call | $8.01 | N/A |
SUPV 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.
SUPV butterfly payoff curve
Modeled P&L at expiration across a range of underlying prices for the butterfly on SUPV. 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 SUPV
Butterflies on SUPV are pinning bets - traders use them when they expect SUPV 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.
SUPV thesis for this butterfly
The market-implied 1-standard-deviation range for SUPV extends from approximately $6.70 on the downside to $8.56 on the upside. A SUPV long call butterfly is a pinning play: it pays maximum at the middle strike if SUPV settles there at expiration, with the wing legs capping both the cost and the maximum loss to the net debit. Current SUPV IV rank near 15.05% sits in the lower third of its 1-year distribution, where IV often re-expands toward the mean; this favors premium-buying structures and disadvantages premium-selling structures on SUPV at 42.30%. As a Financial Services name, SUPV options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to SUPV-specific events.
SUPV 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. SUPV positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move SUPV alongside the broader basket even when SUPV-specific fundamentals are unchanged. Always rebuild the position from current SUPV chain quotes before placing a trade.
Frequently asked questions
- What is a butterfly on SUPV?
- A butterfly on SUPV is the butterfly strategy applied to SUPV (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 SUPV stock trading near $7.63, the strikes shown on this page are snapped to the nearest listed SUPV chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are SUPV 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 SUPV butterfly priced from the end-of-day chain at a 30-day expiry (ATM IV 42.30%), 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 SUPV butterfly?
- The breakeven for the SUPV 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 SUPV market-implied 1-standard-deviation expected move is approximately 12.13%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a butterfly on SUPV?
- Butterflies on SUPV are pinning bets - traders use them when they expect SUPV 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 SUPV implied volatility affect this butterfly?
- SUPV ATM IV is at 42.30% with IV rank near 15.05%, which is on the low end of its 1-year range. Premium-buying structures (long call, long put, debit spreads) are relatively cheap in this regime; premium-selling structures collect less credit per unit risk.