ASMH Iron Condor Strategy
ASMH (ASML Holding NV ADRhedged), in the Financial Services sector, (Asset Management industry), listed on AMEX.
The Series, under normal circumstances, invests at least 95% of its net assets in American Depositary Receipts (“ADRs”) of the ASML Holding NV. It invests in the ADRs of the company and a currency swap designed to hedge against fluctuations in the exchange rate between the U.S. dollar and the Euro. The fund is non-diversified.
ASMH (ASML Holding NV ADRhedged) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $2.1M, a beta of 1.17 versus the broader market, a 52-week range of 46.74-106.91, average daily share volume of 2K, a public-listing history dating back to 2025. These structural characteristics shape how ASMH etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.17 places ASMH roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. ASMH pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on ASMH?
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 ASMH snapshot
As of May 15, 2026, spot at $102.34, ATM IV 48.50%, expected move 13.90%. The iron condor on ASMH 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 ASMH specifically: IV rank is unavailable in the current snapshot, so regime-based timing for ASMH is inferred from ATM IV at 48.50% alone, with a market-implied 1-standard-deviation move of approximately 13.90% (roughly $14.23 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 ASMH expiries trade a higher absolute premium for lower per-day decay. Position sizing on ASMH should anchor to the underlying notional of $102.34 per share and to the trader's directional view on ASMH etf.
ASMH iron condor setup
The ASMH 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 ASMH near $102.34, the first option leg uses a $107.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ASMH 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 ASMH shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $107.00 | $4.48 |
| Buy 1 | Call | $113.00 | $2.75 |
| Sell 1 | Put | $97.00 | $3.40 |
| Buy 1 | Put | $92.00 | $1.89 |
ASMH iron condor risk and reward
- Net Premium / Debit
- +$323.50
- Max Profit (per contract)
- $323.50
- Max Loss (per contract)
- -$276.50
- Breakeven(s)
- $93.77, $110.24
- Risk / Reward Ratio
- 1.170
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.
ASMH iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on ASMH. 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% | -$176.50 |
| $22.64 | -77.9% | -$176.50 |
| $45.26 | -55.8% | -$176.50 |
| $67.89 | -33.7% | -$176.50 |
| $90.52 | -11.6% | -$176.50 |
| $113.14 | +10.6% | -$276.50 |
| $135.77 | +32.7% | -$276.50 |
| $158.40 | +54.8% | -$276.50 |
| $181.02 | +76.9% | -$276.50 |
| $203.65 | +99.0% | -$276.50 |
When traders use iron condor on ASMH
Iron condors on ASMH are a delta-neutral premium-collection structure that profits if ASMH etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
ASMH thesis for this iron condor
The market-implied 1-standard-deviation range for ASMH extends from approximately $88.11 on the downside to $116.57 on the upside. A ASMH iron condor is a delta-neutral premium-collection structure that pays off when ASMH 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. As a Financial Services name, ASMH options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ASMH-specific events.
ASMH 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. ASMH positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ASMH alongside the broader basket even when ASMH-specific fundamentals are unchanged. Short-premium structures like a iron condor on ASMH carry tail risk when realized volatility exceeds the implied move; review historical ASMH earnings reactions and macro stress periods before sizing. Always rebuild the position from current ASMH chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on ASMH?
- A iron condor on ASMH is the iron condor strategy applied to ASMH (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 ASMH etf trading near $102.34, the strikes shown on this page are snapped to the nearest listed ASMH chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are ASMH 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 ASMH iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 48.50%), the computed maximum profit is $323.50 per contract and the computed maximum loss is -$276.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a ASMH iron condor?
- The breakeven for the ASMH iron condor priced on this page is roughly $93.77 and $110.24 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 ASMH market-implied 1-standard-deviation expected move is approximately 13.90%; 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 ASMH?
- Iron condors on ASMH are a delta-neutral premium-collection structure that profits if ASMH etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current ASMH implied volatility affect this iron condor?
- Current ASMH ATM IV is 48.50%; IV rank context is unavailable in the current snapshot.