How are ASHR 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 ASHR iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 25.17%), the computed maximum profit is $51.50 per contract and the computed maximum loss is -$148.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a ASHR iron condor?

The breakeven for the ASHR iron condor priced on this page is roughly $34.49 and $39.02 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 ASHR market-implied 1-standard-deviation expected move is approximately 7.21%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current ASHR implied volatility affect this iron condor?

ASHR ATM IV is at 25.17% with IV rank near 45.45%, 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.

ASHR Iron Condor Strategy

ASHR (Xtrackers Harvest CSI 300 China A-Shares ETF), in the Financial Services sector, (Asset Management industry), listed on AMEX.

The fund will normally invest at least 80% of its total assets in securities of issuers that comprise the underlying index. The underlying index is designed to reflect the price fluctuation and performance of the China A-Share market and is composed of the 300 largest and most liquid stocks in the China A-Share market. It is non-diversified.

ASHR (Xtrackers Harvest CSI 300 China A-Shares ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $2.58B, a beta of 0.68 versus the broader market, a 52-week range of 27.42-37.33, average daily share volume of 4.5M, a public-listing history dating back to 2013. These structural characteristics shape how ASHR etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.68 indicates ASHR has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. ASHR pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a iron condor on ASHR?

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 ASHR snapshot

As of June 30, 2026, spot at $36.66, ATM IV 25.17%, IV rank 45.45%, expected move 7.21%. The iron condor on ASHR 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 iron condor structure on ASHR specifically: ASHR IV at 25.17% is mid-range versus its 1-year history, so the credit collected on a ASHR iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 7.21% (roughly $2.64 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 ASHR expiries trade a higher absolute premium for lower per-day decay. Position sizing on ASHR should anchor to the underlying notional of $36.66 per share and to the trader's directional view on ASHR etf.

ASHR iron condor setup

The ASHR 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 ASHR near $36.66, the first option leg uses a $38.50 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ASHR 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 ASHR shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$38.50	$0.37
Buy 1	Call	$40.50	$0.13
Sell 1	Put	$35.00	$0.54
Buy 1	Put	$33.00	$0.27

ASHR iron condor risk and reward

Net Premium / Debit: +$51.50
Max Profit (per contract): $51.50
Max Loss (per contract): -$148.50
Breakeven(s): $34.49, $39.02
Risk / Reward Ratio: 0.347

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.

ASHR iron condor payoff curve

Modeled P&L at expiration across a range of underlying prices for the iron condor on ASHR. 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%	-$148.50
$8.11	-77.9%	-$148.50
$16.22	-55.8%	-$148.50
$24.32	-33.7%	-$148.50
$32.43	-11.5%	-$148.50
$40.53	+10.6%	-$148.50
$48.64	+32.7%	-$148.50
$56.74	+54.8%	-$148.50
$64.85	+76.9%	-$148.50
$72.95	+99.0%	-$148.50

When traders use iron condor on ASHR

Iron condors on ASHR are a delta-neutral premium-collection structure that profits if ASHR etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.

ASHR thesis for this iron condor

The market-implied 1-standard-deviation range for ASHR extends from approximately $34.02 on the downside to $39.30 on the upside. A ASHR iron condor is a delta-neutral premium-collection structure that pays off when ASHR 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 ASHR IV rank near 45.45% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on ASHR should anchor more to the directional view and the expected-move geometry. As a Financial Services name, ASHR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ASHR-specific events.

ASHR 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. ASHR positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ASHR alongside the broader basket even when ASHR-specific fundamentals are unchanged. Short-premium structures like a iron condor on ASHR carry tail risk when realized volatility exceeds the implied move; review historical ASHR earnings reactions and macro stress periods before sizing. Always rebuild the position from current ASHR chain quotes before placing a trade.

Frequently asked questions

What is a iron condor on ASHR?: A iron condor on ASHR is the iron condor strategy applied to ASHR (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 ASHR etf trading near $36.66, the strikes shown on this page are snapped to the nearest listed ASHR chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are ASHR 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 ASHR iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 25.17%), the computed maximum profit is $51.50 per contract and the computed maximum loss is -$148.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a ASHR iron condor?: The breakeven for the ASHR iron condor priced on this page is roughly $34.49 and $39.02 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 ASHR market-implied 1-standard-deviation expected move is approximately 7.21%; 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 ASHR?: Iron condors on ASHR are a delta-neutral premium-collection structure that profits if ASHR etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
How does current ASHR implied volatility affect this iron condor?: ASHR ATM IV is at 25.17% with IV rank near 45.45%, 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.