AVNM Iron Condor Strategy
AVNM (Avantis All International Markets Equity ETF 9), in the Financial Services sector, (Asset Management industry), listed on AMEX.
Designed to provide exposure to a broadly diversified set of companies and sectors across international developed and emerging market countries while focusing on securities with higher expected returns*. The strategy pursues its objective through investing in a series of other Avantis exchange-traded funds (ETFs).Pursues the benefits associated with indexing (diversification, low turnover, transparency of exposures), but with the ability to add value by making investment decisions using information in current prices.Efficient portfolio management and trading process that is designed to enhance returns while seeking to reduce unnecessary risks and transaction costs for investors.
AVNM (Avantis All International Markets Equity ETF 9) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $625.2M, a beta of 0.65 versus the broader market, a 52-week range of 62.02-84.25, average daily share volume of 65K, a public-listing history dating back to 2023. These structural characteristics shape how AVNM etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.65 indicates AVNM has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. AVNM pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on AVNM?
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 AVNM snapshot
As of May 15, 2026, spot at $82.05, ATM IV 22.80%, IV rank 31.06%, expected move 6.54%. The iron condor on AVNM 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 AVNM specifically: AVNM IV at 22.80% is mid-range versus its 1-year history, so the credit collected on a AVNM iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 6.54% (roughly $5.36 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 AVNM expiries trade a higher absolute premium for lower per-day decay. Position sizing on AVNM should anchor to the underlying notional of $82.05 per share and to the trader's directional view on AVNM etf.
AVNM iron condor setup
The AVNM 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 AVNM near $82.05, the first option leg uses a $86.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AVNM 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 AVNM shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $86.00 | $0.93 |
| Buy 1 | Call | $90.00 | $0.28 |
| Sell 1 | Put | $78.00 | $0.77 |
| Buy 1 | Put | $74.00 | $0.18 |
AVNM iron condor risk and reward
- Net Premium / Debit
- +$124.00
- Max Profit (per contract)
- $124.00
- Max Loss (per contract)
- -$276.00
- Breakeven(s)
- $76.76, $87.24
- Risk / Reward Ratio
- 0.449
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.
AVNM iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on AVNM. 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% | -$276.00 |
| $18.15 | -77.9% | -$276.00 |
| $36.29 | -55.8% | -$276.00 |
| $54.43 | -33.7% | -$276.00 |
| $72.57 | -11.6% | -$276.00 |
| $90.71 | +10.6% | -$276.00 |
| $108.85 | +32.7% | -$276.00 |
| $126.99 | +54.8% | -$276.00 |
| $145.13 | +76.9% | -$276.00 |
| $163.28 | +99.0% | -$276.00 |
When traders use iron condor on AVNM
Iron condors on AVNM are a delta-neutral premium-collection structure that profits if AVNM etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
AVNM thesis for this iron condor
The market-implied 1-standard-deviation range for AVNM extends from approximately $76.69 on the downside to $87.41 on the upside. A AVNM iron condor is a delta-neutral premium-collection structure that pays off when AVNM 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 AVNM IV rank near 31.06% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on AVNM should anchor more to the directional view and the expected-move geometry. As a Financial Services name, AVNM options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AVNM-specific events.
AVNM 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. AVNM positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move AVNM alongside the broader basket even when AVNM-specific fundamentals are unchanged. Short-premium structures like a iron condor on AVNM carry tail risk when realized volatility exceeds the implied move; review historical AVNM earnings reactions and macro stress periods before sizing. Always rebuild the position from current AVNM chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on AVNM?
- A iron condor on AVNM is the iron condor strategy applied to AVNM (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 AVNM etf trading near $82.05, the strikes shown on this page are snapped to the nearest listed AVNM chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are AVNM 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 AVNM iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 22.80%), the computed maximum profit is $124.00 per contract and the computed maximum loss is -$276.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a AVNM iron condor?
- The breakeven for the AVNM iron condor priced on this page is roughly $76.76 and $87.24 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 AVNM market-implied 1-standard-deviation expected move is approximately 6.54%; 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 AVNM?
- Iron condors on AVNM are a delta-neutral premium-collection structure that profits if AVNM etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current AVNM implied volatility affect this iron condor?
- AVNM ATM IV is at 22.80% with IV rank near 31.06%, 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.