EKG Iron Condor Strategy
EKG (First Trust Nasdaq Lux Digital Health Solutions ETF), in the Financial Services sector, (Asset Management industry), listed on NASDAQ.
The First Trust Nasdaq Lux Digital Health Solutions ETF (the "Fund") is designed to replicate the overall performance (encompassing both capital appreciation and income, prior to its own expenses) of an equity benchmark known as the Nasdaq Lux Health Tech Index. To achieve this objective, the Fund generally allocates a minimum of 80% of its net assets—including any capital borrowed for investment—into the common stocks and depositary receipts that constitute this particular index.
EKG (First Trust Nasdaq Lux Digital Health Solutions ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $3.2M, a beta of 1.43 versus the broader market, a 52-week range of 15.71-25.07, average daily share volume of 4K, a public-listing history dating back to 2022. These structural characteristics shape how EKG etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.43 indicates EKG 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 EKG?
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.
EKG snapshot
As of November 13, 2026, spot at $22.16. The iron condor on EKG 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 EKG specifically: IV rank is unavailable in the current snapshot, so regime-based timing for EKG is inferred from ATM IV alone. The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated EKG expiries trade a higher absolute premium for lower per-day decay. Position sizing on EKG should anchor to the underlying notional of $22.16 per share and to the trader's directional view on EKG etf.
EKG iron condor setup
The EKG 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 EKG at $22.16 on that close, the first option leg uses a $23.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed EKG 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 EKG shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $23.00 | $0.88 |
| Buy 1 | Call | $24.00 | $0.53 |
| Sell 1 | Put | $21.00 | $0.46 |
| Buy 1 | Put | $20.00 | $0.27 |
EKG iron condor risk and reward
- Net Premium / Debit
- +$54.00
- Max Profit (per contract)
- $54.00
- Max Loss (per contract)
- -$46.00
- Breakeven(s)
- $20.46, $23.54
- Risk / Reward Ratio
- 1.174
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.
EKG iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on EKG. 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% | -$46.00 |
| $4.91 | -77.8% | -$46.00 |
| $9.81 | -55.7% | -$46.00 |
| $14.71 | -33.6% | -$46.00 |
| $19.60 | -11.5% | -$46.00 |
| $24.50 | +10.6% | -$46.00 |
| $29.40 | +32.7% | -$46.00 |
| $34.30 | +54.8% | -$46.00 |
| $39.20 | +76.9% | -$46.00 |
| $44.10 | +99.0% | -$46.00 |
When traders use iron condor on EKG
Iron condors on EKG are a delta-neutral premium-collection structure that profits if EKG etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
EKG thesis for this iron condor
A EKG iron condor is a delta-neutral premium-collection structure that pays off when EKG 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, EKG options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to EKG-specific events.
EKG 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. EKG positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move EKG alongside the broader basket even when EKG-specific fundamentals are unchanged. Short-premium structures like a iron condor on EKG carry tail risk when realized volatility exceeds the implied move; review historical EKG earnings reactions and macro stress periods before sizing. Always rebuild the position from current EKG chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on EKG?
- A iron condor on EKG is the iron condor strategy applied to EKG (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 EKG etf at $22.16 on the November 13, 2026 close, the strikes shown on this page are snapped to the nearest listed EKG chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are EKG 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 EKG iron condor priced from the November 13, 2026 end-of-day chain at a 30-day expiry (ATM IV the current ATM IV), the computed maximum profit is $54.00 per contract and the computed maximum loss is -$46.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a EKG iron condor?
- The breakeven for the EKG iron condor priced on this page is roughly $20.46 and $23.54 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.
- When should you consider a iron condor on EKG?
- Iron condors on EKG are a delta-neutral premium-collection structure that profits if EKG etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current EKG implied volatility affect this iron condor?
- Current EKG ATM IV is the current ATM IV; IV rank context is unavailable in the current snapshot.