How are TEAM 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 TEAM butterfly priced from the end-of-day chain at a 30-day expiry (ATM IV 69.17%), the computed maximum profit is $306.43 per contract and the computed maximum loss is -$85.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a TEAM butterfly?

The breakeven for the TEAM butterfly priced on this page is roughly $80.15 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 TEAM market-implied 1-standard-deviation expected move is approximately 19.83%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current TEAM implied volatility affect this butterfly?

TEAM ATM IV is at 69.17% with IV rank near 48.55%, 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.

TEAM Butterfly Strategy

TEAM (Atlassian Corporation), in the Technology sector, (Software - Application industry), listed on NASDAQ.

Atlassian Corporation, operating globally via its subsidiaries, specializes in creating, distributing, and supporting a diverse range of software solutions. Its extensive product suite features Jira Software and Jira Work Management, comprehensive project management platforms enabling technical and business teams to efficiently plan, organize, monitor, and execute tasks. Confluence serves as a collaborative workspace, centralizing knowledge to advance team efforts, while Trello provides a flexible tool for teams to structure and manage dynamic, rapidly evolving projects. Additionally, Atlassian provides Jira Service Management, an adaptable service desk solution empowering IT, legal, HR, and other service teams to deliver and oversee exceptional service experiences. Another key offering is Jira Align, an enterprise agility platform crafted to assist businesses in navigating dynamic market conditions by prioritizing value generation. Furthermore, its offerings include Bitbucket, an enterprise-grade Git repository management system facilitating professional development teams in collaborating on, managing, and deploying high-quality code.

TEAM (Atlassian Corporation) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $20.68B, a beta of 1.07 versus the broader market, a 52-week range of 56.01-222.59, average daily share volume of 7.2M, a public-listing history dating back to 2015, approximately 12K full-time employees. These structural characteristics shape how TEAM stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.07 places TEAM roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.

What is a butterfly on TEAM?

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 TEAM snapshot

As of June 30, 2026, spot at $77.47, ATM IV 69.17%, IV rank 48.55%, expected move 19.83%. The butterfly on TEAM 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 31-day expiry.

Why this butterfly structure on TEAM specifically: TEAM IV at 69.17% 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 19.83% (roughly $15.36 on the underlying). The 31-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated TEAM expiries trade a higher absolute premium for lower per-day decay. Position sizing on TEAM should anchor to the underlying notional of $77.47 per share and to the trader's directional view on TEAM stock.

TEAM butterfly setup

The TEAM 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 TEAM near $77.47, the first option leg uses a $74.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed TEAM chain at a 31-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 TEAM shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$74.00	$8.15
Sell 2	Call	$77.00	$6.55
Buy 1	Call	$81.00	$4.80

TEAM butterfly risk and reward

Net Premium / Debit: +$15.00
Max Profit (per contract): $306.43
Max Loss (per contract): -$85.00
Breakeven(s): $80.15
Risk / Reward Ratio: 3.605

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.

TEAM butterfly payoff curve

Modeled P&L at expiration across a range of underlying prices for the butterfly on TEAM. 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%	+$15.00
$17.14	-77.9%	+$15.00
$34.27	-55.8%	+$15.00
$51.39	-33.7%	+$15.00
$68.52	-11.6%	+$15.00
$85.65	+10.6%	-$85.00
$102.78	+32.7%	-$85.00
$119.91	+54.8%	-$85.00
$137.03	+76.9%	-$85.00
$154.16	+99.0%	-$85.00

When traders use butterfly on TEAM

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

TEAM thesis for this butterfly

The market-implied 1-standard-deviation range for TEAM extends from approximately $62.11 on the downside to $92.83 on the upside. A TEAM long call butterfly is a pinning play: it pays maximum at the middle strike if TEAM settles there at expiration, with the wing legs capping both the cost and the maximum loss to the net debit. Current TEAM IV rank near 48.55% is mid-range against its 1-year distribution, so the IV signal is neutral; the butterfly thesis on TEAM should anchor more to the directional view and the expected-move geometry. As a Technology name, TEAM options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to TEAM-specific events.

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

Frequently asked questions

What is a butterfly on TEAM?: A butterfly on TEAM is the butterfly strategy applied to TEAM (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 TEAM stock trading near $77.47, the strikes shown on this page are snapped to the nearest listed TEAM chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are TEAM 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 TEAM butterfly priced from the end-of-day chain at a 30-day expiry (ATM IV 69.17%), the computed maximum profit is $306.43 per contract and the computed maximum loss is -$85.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a TEAM butterfly?: The breakeven for the TEAM butterfly priced on this page is roughly $80.15 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 TEAM market-implied 1-standard-deviation expected move is approximately 19.83%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a butterfly on TEAM?: Butterflies on TEAM are pinning bets - traders use them when they expect TEAM 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 TEAM implied volatility affect this butterfly?: TEAM ATM IV is at 69.17% with IV rank near 48.55%, 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.