CIFU Iron Condor Strategy
CIFU (T-REX 2X Long CIFR Daily Target ETF), in the Financial Services sector, (Asset Management industry), listed on CBOE.
The fund, under normal circumstances, invests at least 80% of its net assets (plus any borrowings for investment purposes) in financial instruments that are designed to provide, in the aggregate, 200% exposure to the price performance of CIFR on a daily basis. The fund may also seek to achieve its investment objective by purchasing call options on CIFR or by investing directly in the common stock of CIFR. The fund is non-diversified.
CIFU (T-REX 2X Long CIFR Daily Target ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $16.7M, a beta of 9.04 versus the broader market, a 52-week range of 9.99-51.21, average daily share volume of 202K, a public-listing history dating back to 2025, approximately 5K full-time employees. These structural characteristics shape how CIFU etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 9.04 indicates CIFU 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 CIFU?
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 CIFU snapshot
As of June 30, 2026, spot at $33.31, ATM IV 207.30%, expected move 59.43%. The iron condor on CIFU 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 17-day expiry.
Why this iron condor structure on CIFU specifically: IV rank is unavailable in the current snapshot, so regime-based timing for CIFU is inferred from ATM IV at 207.30% alone, with a market-implied 1-standard-deviation move of approximately 59.43% (roughly $19.80 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated CIFU expiries trade a higher absolute premium for lower per-day decay. Position sizing on CIFU should anchor to the underlying notional of $33.31 per share and to the trader's directional view on CIFU etf.
CIFU iron condor setup
The CIFU 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 CIFU near $33.31, the first option leg uses a $35.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CIFU chain at a 17-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 CIFU shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $35.00 | $4.85 |
| Buy 1 | Call | $37.00 | $4.20 |
| Sell 1 | Put | $32.00 | $5.50 |
| Buy 1 | Put | $30.00 | $4.45 |
CIFU iron condor risk and reward
- Net Premium / Debit
- +$170.00
- Max Profit (per contract)
- $170.00
- Max Loss (per contract)
- -$30.00
- Breakeven(s)
- $30.30, $36.70
- Risk / Reward Ratio
- 5.667
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.
CIFU iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on CIFU. 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 |
| $7.37 | -77.9% | -$30.00 |
| $14.74 | -55.8% | -$30.00 |
| $22.10 | -33.6% | -$30.00 |
| $29.47 | -11.5% | -$30.00 |
| $36.83 | +10.6% | -$12.96 |
| $44.19 | +32.7% | -$30.00 |
| $51.56 | +54.8% | -$30.00 |
| $58.92 | +76.9% | -$30.00 |
| $66.29 | +99.0% | -$30.00 |
When traders use iron condor on CIFU
Iron condors on CIFU are a delta-neutral premium-collection structure that profits if CIFU etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
CIFU thesis for this iron condor
The market-implied 1-standard-deviation range for CIFU extends from approximately $13.51 on the downside to $53.11 on the upside. A CIFU iron condor is a delta-neutral premium-collection structure that pays off when CIFU 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, CIFU options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CIFU-specific events.
CIFU 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. CIFU positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CIFU alongside the broader basket even when CIFU-specific fundamentals are unchanged. Short-premium structures like a iron condor on CIFU carry tail risk when realized volatility exceeds the implied move; review historical CIFU earnings reactions and macro stress periods before sizing. Always rebuild the position from current CIFU chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on CIFU?
- A iron condor on CIFU is the iron condor strategy applied to CIFU (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 CIFU etf trading near $33.31, the strikes shown on this page are snapped to the nearest listed CIFU chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are CIFU 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 CIFU iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 207.30%), the computed maximum profit is $170.00 per contract and the computed maximum loss is -$30.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a CIFU iron condor?
- The breakeven for the CIFU iron condor priced on this page is roughly $30.30 and $36.70 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 CIFU market-implied 1-standard-deviation expected move is approximately 59.43%; 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 CIFU?
- Iron condors on CIFU are a delta-neutral premium-collection structure that profits if CIFU etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current CIFU implied volatility affect this iron condor?
- Current CIFU ATM IV is 207.30%; IV rank context is unavailable in the current snapshot.