CORN Iron Condor Strategy
CORN (Teucrium Corn Fund), in the Financial Services sector, (Asset Management industry), listed on AMEX.
Investors can easily access the market price of corn futures by investing in the Teucrium Corn Fund (CORN) through their standard brokerage accounts.
CORN (Teucrium Corn Fund) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $44.8M, a beta of 0.39 versus the broader market, a 52-week range of 16.59-19.13, average daily share volume of 765K, a public-listing history dating back to 2010. These structural characteristics shape how CORN etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.39 indicates CORN has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure.
What is a iron condor on CORN?
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 CORN snapshot
As of June 30, 2026, spot at $16.73, ATM IV 411.80%, IV rank 100.00%, expected move 118.06%. The iron condor on CORN 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 CORN specifically: CORN IV at 411.80% is rich versus its 1-year range, which favors premium-selling structures like a CORN iron condor, with a market-implied 1-standard-deviation move of approximately 118.06% (roughly $19.75 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 CORN expiries trade a higher absolute premium for lower per-day decay. Position sizing on CORN should anchor to the underlying notional of $16.73 per share and to the trader's directional view on CORN etf.
CORN iron condor setup
The CORN 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 CORN near $16.73, the first option leg uses a $17.57 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CORN 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 CORN shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $17.57 | N/A |
| Buy 1 | Call | $18.40 | N/A |
| Sell 1 | Put | $15.89 | N/A |
| Buy 1 | Put | $15.06 | N/A |
CORN iron condor risk and reward
- Net Premium / Debit
- N/A
- Max Profit (per contract)
- Unbounded
- Max Loss (per contract)
- Unbounded
- Breakeven(s)
- None on modeled curve
- Risk / Reward Ratio
- N/A
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.
CORN iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on CORN. 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.
When traders use iron condor on CORN
Iron condors on CORN are a delta-neutral premium-collection structure that profits if CORN etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
CORN thesis for this iron condor
The market-implied 1-standard-deviation range for CORN extends from approximately $-3.02 on the downside to $36.48 on the upside. A CORN iron condor is a delta-neutral premium-collection structure that pays off when CORN 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 CORN IV rank near 100.00% sits in the upper third of its 1-year distribution, which historically reverts; this raises the bar for premium-buying structures and lowers it for premium-selling structures on CORN at 411.80%. As a Financial Services name, CORN options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CORN-specific events.
CORN 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. CORN positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CORN alongside the broader basket even when CORN-specific fundamentals are unchanged. Short-premium structures like a iron condor on CORN carry tail risk when realized volatility exceeds the implied move; review historical CORN earnings reactions and macro stress periods before sizing. Always rebuild the position from current CORN chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on CORN?
- A iron condor on CORN is the iron condor strategy applied to CORN (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 CORN etf trading near $16.73, the strikes shown on this page are snapped to the nearest listed CORN chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are CORN 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 CORN iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 411.80%), the computed maximum profit is unbounded per contract and the computed maximum loss is unbounded per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a CORN iron condor?
- The breakeven for the CORN iron condor priced on this page is no defined breakeven on the modeled curve 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 CORN market-implied 1-standard-deviation expected move is approximately 118.06%; 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 CORN?
- Iron condors on CORN are a delta-neutral premium-collection structure that profits if CORN etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current CORN implied volatility affect this iron condor?
- CORN ATM IV is at 411.80% with IV rank near 100.00%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.