DISK Iron Condor Strategy
DISK (Tema Memory ETF), in the Financial Services sector, (Asset Management industry), listed on AMEX.
DISK Network Corporation is a connectivity company that has been a disruptive force in driving innovation and value for consumers since 1980. Through its subsidiaries, the company provides television entertainment and award-winning technology to millions of customers with its satellite DISH TV and streaming SLING TV services. In 2020, the company became a nationwide U.S. wireless carrier through the acquisition of Boost Mobile and is building the nation's first cloud-native, OpenRAN-based 5G broadband network.
DISK (Tema Memory ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $5.8M, a beta of 8.44 versus the broader market, a 52-week range of 21.9-50.46, average daily share volume of 252K, a public-listing history dating back to 2026, approximately 14K full-time employees. These structural characteristics shape how DISK etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 8.44 indicates DISK 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 DISK?
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.
DISK snapshot
As of November 13, 2026, spot at $23.95, ATM IV 70.60%, expected move 20.24%. The iron condor on DISK below is built from the November 13, 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 DISK specifically: IV rank is unavailable in the current snapshot, so regime-based timing for DISK is inferred from ATM IV at 70.60% alone, with a market-implied 1-standard-deviation move of approximately 20.24% (roughly $4.85 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 DISK expiries trade a higher absolute premium for lower per-day decay. Position sizing on DISK should anchor to the underlying notional of $23.95 per share and to the trader's directional view on DISK etf.
DISK iron condor setup
The DISK iron condor below is built from the November 13, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With DISK at $23.95 on that close, the first option leg uses a $25.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed DISK 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 DISK shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $25.00 | $1.58 |
| Buy 1 | Call | $26.00 | $1.28 |
| Sell 1 | Put | $23.00 | $1.73 |
| Buy 1 | Put | $22.00 | $1.18 |
DISK iron condor risk and reward
- Net Premium / Debit
- +$85.00
- Max Profit (per contract)
- $85.00
- Max Loss (per contract)
- -$15.00
- Breakeven(s)
- $22.15, $25.85
- 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.
DISK iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on DISK. 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% | -$15.00 |
| $5.30 | -77.9% | -$15.00 |
| $10.60 | -55.7% | -$15.00 |
| $15.89 | -33.6% | -$15.00 |
| $21.19 | -11.5% | -$15.00 |
| $26.48 | +10.6% | -$15.00 |
| $31.78 | +32.7% | -$15.00 |
| $37.07 | +54.8% | -$15.00 |
| $42.36 | +76.9% | -$15.00 |
| $47.66 | +99.0% | -$15.00 |
When traders use iron condor on DISK
Iron condors on DISK are a delta-neutral premium-collection structure that profits if DISK etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
DISK thesis for this iron condor
The market-implied 1-standard-deviation range for DISK extends from approximately $19.10 on the downside to $28.80 on the upside. A DISK iron condor is a delta-neutral premium-collection structure that pays off when DISK 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, DISK options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to DISK-specific events.
DISK 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. DISK positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move DISK alongside the broader basket even when DISK-specific fundamentals are unchanged. Short-premium structures like a iron condor on DISK carry tail risk when realized volatility exceeds the implied move; review historical DISK earnings reactions and macro stress periods before sizing. Always rebuild the position from current DISK chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on DISK?
- A iron condor on DISK is the iron condor strategy applied to DISK (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 DISK etf at $23.95 on the November 13, 2026 close, the strikes shown on this page are snapped to the nearest listed DISK chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are DISK 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 DISK iron condor priced from the November 13, 2026 end-of-day chain at a 30-day expiry (ATM IV 70.60%), the computed maximum profit is $85.00 per contract and the computed maximum loss is -$15.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a DISK iron condor?
- The breakeven for the DISK iron condor priced on this page is roughly $22.15 and $25.85 at expiration, derived from the November 13, 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 DISK market-implied 1-standard-deviation expected move in the same options snapshot is approximately 20.24%; 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 DISK?
- Iron condors on DISK are a delta-neutral premium-collection structure that profits if DISK etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current DISK implied volatility affect this iron condor?
- Current DISK ATM IV is 70.60%; IV rank context is unavailable in the current snapshot.