How are CONY 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 CONY iron condor priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 50.00%), the computed maximum profit is $74.50 per contract and the computed maximum loss is -$25.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a CONY iron condor?

The breakeven for the CONY iron condor priced on this page is roughly $16.26 and $19.75 at expiration, derived from the August 14, 2026 end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The CONY market-implied 1-standard-deviation expected move in the same options snapshot is approximately 14.33%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current CONY implied volatility affect this iron condor?

CONY ATM IV is at 50.00% with IV rank near 9.60%, 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.

CONY Iron Condor Strategy

CONY (YieldMax COIN Option Income Strategy ETF), in the Financial Services sector, (Asset Management - Income industry), listed on AMEX.

As an actively managed exchange-traded fund, the YieldMax COIN Option Income Strategy ETF (CONY) aims to deliver consistent weekly income. This is accomplished through a strategic approach involving the sale of call options or call spreads on COIN. The fund's methodology is structured to capitalize on option premiums while simultaneously allowing for participation in any gains from COIN's stock price.

CONY (YieldMax COIN Option Income Strategy ETF) trades in the Financial Services sector, specifically Asset Management - Income, with a market capitalization of approximately $314.7M, a beta of 2.34 versus the broader market, a 52-week range of 17.22-78.2, average daily share volume of 420K, a public-listing history dating back to 2023. These structural characteristics shape how CONY etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 2.34 indicates CONY has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. CONY pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a iron condor on CONY?

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.

CONY snapshot

As of August 14, 2026, spot at $18.03, ATM IV 50.00%, IV rank 9.60%, expected move 14.33%. The iron condor on CONY below is built from the August 14, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.

Why this iron condor structure on CONY specifically: CONY IV at 50.00% is on the cheap side of its 1-year range, which means a premium-selling CONY iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 14.33% (roughly $2.58 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated CONY expiries trade a higher absolute premium for lower per-day decay. Position sizing on CONY should anchor to the underlying notional of $18.03 per share and to the trader's directional view on CONY etf.

CONY iron condor setup

The CONY iron condor below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With CONY at $18.03 on that close, the first option leg uses a $19.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CONY chain at a 35-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 CONY shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$19.00	$0.43
Buy 1	Call	$20.00	$0.23
Sell 1	Put	$17.00	$1.15
Buy 1	Put	$16.00	$0.60

CONY iron condor risk and reward

Net Premium / Debit: +$74.50
Max Profit (per contract): $74.50
Max Loss (per contract): -$25.50
Breakeven(s): $16.26, $19.75
Risk / Reward Ratio: 2.922

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.

CONY iron condor payoff curve

Modeled P&L at expiration across a range of underlying prices for the iron condor on CONY. 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	-99.9%	-$25.50
$4.00	-77.8%	-$25.50
$7.98	-55.7%	-$25.50
$11.97	-33.6%	-$25.50
$15.95	-11.5%	-$25.50
$19.94	+10.6%	-$19.21
$23.92	+32.7%	-$25.50
$27.91	+54.8%	-$25.50
$31.89	+76.9%	-$25.50
$35.88	+99.0%	-$25.50

When traders use iron condor on CONY

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

CONY thesis for this iron condor

The market-implied 1-standard-deviation range for CONY extends from approximately $15.45 on the downside to $20.61 on the upside. A CONY iron condor is a delta-neutral premium-collection structure that pays off when CONY 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 CONY IV rank near 9.60% 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 CONY at 50.00%. As a Financial Services name, CONY options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CONY-specific events.

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

Frequently asked questions

What is a iron condor on CONY?: A iron condor on CONY is the iron condor strategy applied to CONY (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 CONY etf at $18.03 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed CONY chain strike and the premiums come straight from that session's bid/ask midpoint.
How are CONY 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 CONY iron condor priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 50.00%), the computed maximum profit is $74.50 per contract and the computed maximum loss is -$25.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a CONY iron condor?: The breakeven for the CONY iron condor priced on this page is roughly $16.26 and $19.75 at expiration, derived from the August 14, 2026 end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The CONY market-implied 1-standard-deviation expected move in the same options snapshot is approximately 14.33%; 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 CONY?: Iron condors on CONY are a delta-neutral premium-collection structure that profits if CONY etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
How does current CONY implied volatility affect this iron condor?: CONY ATM IV is at 50.00% with IV rank near 9.60%, 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.