FLIN Iron Condor Strategy
FLIN (Franklin FTSE India ETF), in the Financial Services sector, (Asset Management industry), listed on AMEX.
Seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the FTSE India RIC Capped Index (the FTSE India Capped Index).
FLIN (Franklin FTSE India ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $3.19B, a beta of 0.60 versus the broader market, a 52-week range of 32.2-40.085, average daily share volume of 910K, a public-listing history dating back to 2018. These structural characteristics shape how FLIN etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.60 indicates FLIN has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. FLIN pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on FLIN?
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 FLIN snapshot
As of May 15, 2026, spot at $34.41, ATM IV 38.90%, IV rank 5.56%, expected move 11.15%. The iron condor on FLIN 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 34-day expiry.
Why this iron condor structure on FLIN specifically: FLIN IV at 38.90% is on the cheap side of its 1-year range, which means a premium-selling FLIN iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 11.15% (roughly $3.84 on the underlying). The 34-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated FLIN expiries trade a higher absolute premium for lower per-day decay. Position sizing on FLIN should anchor to the underlying notional of $34.41 per share and to the trader's directional view on FLIN etf.
FLIN iron condor setup
The FLIN 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 FLIN near $34.41, the first option leg uses a $36.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed FLIN chain at a 34-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 FLIN shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $36.00 | $0.92 |
| Buy 1 | Call | $38.00 | $0.40 |
| Sell 1 | Put | $33.00 | $0.89 |
| Buy 1 | Put | $31.00 | $0.35 |
FLIN iron condor risk and reward
- Net Premium / Debit
- +$106.00
- Max Profit (per contract)
- $106.00
- Max Loss (per contract)
- -$94.00
- Breakeven(s)
- $31.94, $37.06
- Risk / Reward Ratio
- 1.128
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.
FLIN iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on FLIN. 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% | -$94.00 |
| $7.62 | -77.9% | -$94.00 |
| $15.22 | -55.8% | -$94.00 |
| $22.83 | -33.6% | -$94.00 |
| $30.44 | -11.5% | -$94.00 |
| $38.05 | +10.6% | -$94.00 |
| $45.65 | +32.7% | -$94.00 |
| $53.26 | +54.8% | -$94.00 |
| $60.87 | +76.9% | -$94.00 |
| $68.47 | +99.0% | -$94.00 |
When traders use iron condor on FLIN
Iron condors on FLIN are a delta-neutral premium-collection structure that profits if FLIN etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
FLIN thesis for this iron condor
The market-implied 1-standard-deviation range for FLIN extends from approximately $30.57 on the downside to $38.25 on the upside. A FLIN iron condor is a delta-neutral premium-collection structure that pays off when FLIN 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 FLIN IV rank near 5.56% 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 FLIN at 38.90%. As a Financial Services name, FLIN options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to FLIN-specific events.
FLIN 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. FLIN positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move FLIN alongside the broader basket even when FLIN-specific fundamentals are unchanged. Short-premium structures like a iron condor on FLIN carry tail risk when realized volatility exceeds the implied move; review historical FLIN earnings reactions and macro stress periods before sizing. Always rebuild the position from current FLIN chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on FLIN?
- A iron condor on FLIN is the iron condor strategy applied to FLIN (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 FLIN etf trading near $34.41, the strikes shown on this page are snapped to the nearest listed FLIN chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are FLIN 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 FLIN iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 38.90%), the computed maximum profit is $106.00 per contract and the computed maximum loss is -$94.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a FLIN iron condor?
- The breakeven for the FLIN iron condor priced on this page is roughly $31.94 and $37.06 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 FLIN market-implied 1-standard-deviation expected move is approximately 11.15%; 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 FLIN?
- Iron condors on FLIN are a delta-neutral premium-collection structure that profits if FLIN etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current FLIN implied volatility affect this iron condor?
- FLIN ATM IV is at 38.90% with IV rank near 5.56%, 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.