AIS Iron Condor Strategy
AIS (VistaShares Artificial Intelligence Supercycle ETF), in the Financial Services sector, (Asset Management industry), listed on AMEX.
The fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by investing in a portfolio of global AI companies. The Sub-Adviser seeks to invest the fund’s assets to achieve returns similar to those of the BITA VistaShares Artificial Intelligence Supercycle Index. Under normal circumstances, the fund will invest at least 80% of the fund’s net assets (plus borrowings for investment purposes) in AI companies.
AIS (VistaShares Artificial Intelligence Supercycle ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $221.3M, a beta of 2.87 versus the broader market, a 52-week range of 23.83-71.595, average daily share volume of 255K, a public-listing history dating back to 2024. These structural characteristics shape how AIS etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.87 indicates AIS has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.
What is a iron condor on AIS?
An iron condor sells a call spread and a put spread at strikes outside spot, collecting net premium that is kept if the underlying stays inside the inner short strikes.
Current AIS snapshot
As of May 15, 2026, spot at $68.42, ATM IV 55.50%, IV rank 12.43%, expected move 15.91%. The iron condor on AIS 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 iron condor structure on AIS specifically: AIS IV at 55.50% is on the cheap side of its 1-year range, which means a premium-selling AIS iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 15.91% (roughly $10.89 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 AIS expiries trade a higher absolute premium for lower per-day decay. Position sizing on AIS should anchor to the underlying notional of $68.42 per share and to the trader's directional view on AIS etf.
AIS iron condor setup
The AIS iron condor below is built from the end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With AIS near $68.42, the first option leg uses a $70.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AIS 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 AIS shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $70.00 | $4.35 |
| Buy 1 | Call | $75.00 | $1.88 |
| Sell 1 | Put | $65.00 | $3.15 |
| Buy 1 | Put | $61.00 | $1.93 |
AIS iron condor risk and reward
- Net Premium / Debit
- +$370.00
- Max Profit (per contract)
- $370.00
- Max Loss (per contract)
- -$130.00
- Breakeven(s)
- $61.30, $73.70
- Risk / Reward Ratio
- 2.846
Max profit equals the net credit times 100 inside the inner strikes; max loss equals wing width minus credit times 100. Two breakevens at inner strikes plus and minus the credit.
AIS iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on AIS. 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.
| Underlying Price | % From Spot | P&L at Expiration |
|---|---|---|
| $0.01 | -100.0% | -$30.00 |
| $15.14 | -77.9% | -$30.00 |
| $30.26 | -55.8% | -$30.00 |
| $45.39 | -33.7% | -$30.00 |
| $60.52 | -11.5% | -$30.00 |
| $75.64 | +10.6% | -$130.00 |
| $90.77 | +32.7% | -$130.00 |
| $105.90 | +54.8% | -$130.00 |
| $121.03 | +76.9% | -$130.00 |
| $136.15 | +99.0% | -$130.00 |
When traders use iron condor on AIS
Iron condors on AIS are a delta-neutral premium-collection structure that profits if AIS etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
AIS thesis for this iron condor
The market-implied 1-standard-deviation range for AIS extends from approximately $57.53 on the downside to $79.31 on the upside. A AIS iron condor is a delta-neutral premium-collection structure that pays off when AIS stays inside the inner short strikes through expiration; the wing width should reflect the trader's tolerance for the maximum loss scenario where the underlying breaches an outer strike. Current AIS IV rank near 12.43% 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 AIS at 55.50%. As a Financial Services name, AIS options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AIS-specific events.
AIS iron condor positions are structurally neutral / range-bound; 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. AIS positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move AIS alongside the broader basket even when AIS-specific fundamentals are unchanged. Short-premium structures like a iron condor on AIS carry tail risk when realized volatility exceeds the implied move; review historical AIS earnings reactions and macro stress periods before sizing. Always rebuild the position from current AIS chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on AIS?
- A iron condor on AIS is the iron condor strategy applied to AIS (etf). The strategy is structurally neutral / range-bound: An iron condor sells a call spread and a put spread at strikes outside spot, collecting net premium that is kept if the underlying stays inside the inner short strikes. With AIS etf trading near $68.42, the strikes shown on this page are snapped to the nearest listed AIS chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are AIS iron condor max profit and max loss calculated?
- Max profit equals the net credit times 100 inside the inner strikes; max loss equals wing width minus credit times 100. Two breakevens at inner strikes plus and minus the credit. For the AIS iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 55.50%), the computed maximum profit is $370.00 per contract and the computed maximum loss is -$130.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a AIS iron condor?
- The breakeven for the AIS iron condor priced on this page is roughly $61.30 and $73.70 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 AIS market-implied 1-standard-deviation expected move is approximately 15.91%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a iron condor on AIS?
- Iron condors on AIS are a delta-neutral premium-collection structure that profits if AIS etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current AIS implied volatility affect this iron condor?
- AIS ATM IV is at 55.50% with IV rank near 12.43%, 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.