How are EEMX 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 EEMX iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 33.50%), the computed maximum profit is $75.00 per contract and the computed maximum loss is -$225.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a EEMX iron condor?

The breakeven for the EEMX iron condor priced on this page is roughly $48.25 and $54.75 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 EEMX market-implied 1-standard-deviation expected move is approximately 9.60%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current EEMX implied volatility affect this iron condor?

EEMX ATM IV is at 33.50% with IV rank near 21.92%, 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.

EEMX Iron Condor Strategy

EEMX (State Street SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF), in the Financial Services sector, (Asset Management industry), listed on AMEX.

The State Street SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the MSCI Emerging Markets ex Fossil Fuels Index (the "Index")First ever emerging markets fossil fuel reserves free ETFSeeks to offer climate-conscious investors exposure to emerging markets equities while limiting exposure to companies owning fossil fuel reservesFor investors interested in minimizing fossil fuel reserves exposure from their portfolio, EEMX may serve as an alternative to traditional emerging markets index exposure

EEMX (State Street SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $130.1M, a beta of 1.11 versus the broader market, a 52-week range of 34.97-53.24, average daily share volume of 29K, a public-listing history dating back to 2016. These structural characteristics shape how EEMX etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.11 places EEMX roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. EEMX pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a iron condor on EEMX?

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 EEMX snapshot

As of May 15, 2026, spot at $51.08, ATM IV 33.50%, IV rank 21.92%, expected move 9.60%. The iron condor on EEMX 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 189-day expiry.

Why this iron condor structure on EEMX specifically: EEMX IV at 33.50% is on the cheap side of its 1-year range, which means a premium-selling EEMX iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 9.60% (roughly $4.91 on the underlying). The 189-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated EEMX expiries trade a higher absolute premium for lower per-day decay. Position sizing on EEMX should anchor to the underlying notional of $51.08 per share and to the trader's directional view on EEMX etf.

EEMX iron condor setup

The EEMX 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 EEMX near $51.08, the first option leg uses a $54.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed EEMX chain at a 189-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 EEMX shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$54.00	$3.23
Buy 1	Call	$56.00	$2.88
Sell 1	Put	$49.00	$3.23
Buy 1	Put	$46.00	$2.83

EEMX iron condor risk and reward

Net Premium / Debit: +$75.00
Max Profit (per contract): $75.00
Max Loss (per contract): -$225.00
Breakeven(s): $48.25, $54.75
Risk / Reward Ratio: 0.333

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.

EEMX iron condor payoff curve

Modeled P&L at expiration across a range of underlying prices for the iron condor on EEMX. 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%	-$225.00
$11.30	-77.9%	-$225.00
$22.60	-55.8%	-$225.00
$33.89	-33.7%	-$225.00
$45.18	-11.5%	-$225.00
$56.47	+10.6%	-$125.00
$67.77	+32.7%	-$125.00
$79.06	+54.8%	-$125.00
$90.35	+76.9%	-$125.00
$101.65	+99.0%	-$125.00

When traders use iron condor on EEMX

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

EEMX thesis for this iron condor

The market-implied 1-standard-deviation range for EEMX extends from approximately $46.17 on the downside to $55.99 on the upside. A EEMX iron condor is a delta-neutral premium-collection structure that pays off when EEMX 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 EEMX IV rank near 21.92% 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 EEMX at 33.50%. As a Financial Services name, EEMX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to EEMX-specific events.

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

Frequently asked questions

What is a iron condor on EEMX?: A iron condor on EEMX is the iron condor strategy applied to EEMX (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 EEMX etf trading near $51.08, the strikes shown on this page are snapped to the nearest listed EEMX chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are EEMX 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 EEMX iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 33.50%), the computed maximum profit is $75.00 per contract and the computed maximum loss is -$225.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a EEMX iron condor?: The breakeven for the EEMX iron condor priced on this page is roughly $48.25 and $54.75 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 EEMX market-implied 1-standard-deviation expected move is approximately 9.60%; 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 EEMX?: Iron condors on EEMX are a delta-neutral premium-collection structure that profits if EEMX etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
How does current EEMX implied volatility affect this iron condor?: EEMX ATM IV is at 33.50% with IV rank near 21.92%, 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.