How are FMET 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 FMET iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 45.60%), the computed maximum profit is $155.00 per contract and the computed maximum loss is -$45.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a FMET iron condor?

The breakeven for the FMET iron condor priced on this page is roughly $33.45 and $39.55 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 FMET market-implied 1-standard-deviation expected move is approximately 13.07%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current FMET implied volatility affect this iron condor?

FMET ATM IV is at 45.60% with IV rank near 40.98%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.

FMET Iron Condor Strategy

FMET (Fidelity Metaverse ETF), in the Financial Services sector, (Asset Management industry), listed on NASDAQ.

The Fidelity Metaverse ETF seeks to provide exposure to pioneering technology firms and innovative emerging companies. These enterprises are actively shaping the future of digital interaction through their contributions to immersive digital content, foundational virtual infrastructure, and advanced wearable devices.

FMET (Fidelity Metaverse ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $47.7M, a beta of 1.41 versus the broader market, a 52-week range of 30.14-40.249, average daily share volume of 4K, a public-listing history dating back to 2022. These structural characteristics shape how FMET etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.41 indicates FMET has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. FMET pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a iron condor on FMET?

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 FMET snapshot

As of June 29, 2026, spot at $36.42, ATM IV 45.60%, IV rank 40.98%, expected move 13.07%. The iron condor on FMET 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 144-day expiry.

Why this iron condor structure on FMET specifically: FMET IV at 45.60% is mid-range versus its 1-year history, so the credit collected on a FMET iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 13.07% (roughly $4.76 on the underlying). The 144-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated FMET expiries trade a higher absolute premium for lower per-day decay. Position sizing on FMET should anchor to the underlying notional of $36.42 per share and to the trader's directional view on FMET etf.

FMET iron condor setup

The FMET 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 FMET near $36.42, the first option leg uses a $38.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed FMET chain at a 144-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 FMET shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$38.00	$3.11
Buy 1	Call	$40.00	$2.39
Sell 1	Put	$35.00	$2.64
Buy 1	Put	$33.00	$1.81

FMET iron condor risk and reward

Net Premium / Debit: +$155.00
Max Profit (per contract): $155.00
Max Loss (per contract): -$45.00
Breakeven(s): $33.45, $39.55
Risk / Reward Ratio: 3.444

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.

FMET iron condor payoff curve

Modeled P&L at expiration across a range of underlying prices for the iron condor on FMET. 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.

P&L at expiration across the modeled underlying-price range. Green shading marks profitable regions, red shading marks loss regions. Dotted purple verticals mark breakevens; the solid dark vertical marks current spot.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-100.0%	-$45.00
$8.06	-77.9%	-$45.00
$16.11	-55.8%	-$45.00
$24.16	-33.6%	-$45.00
$32.22	-11.5%	-$45.00
$40.27	+10.6%	-$45.00
$48.32	+32.7%	-$45.00
$56.37	+54.8%	-$45.00
$64.42	+76.9%	-$45.00
$72.47	+99.0%	-$45.00

When traders use iron condor on FMET

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

FMET thesis for this iron condor

The market-implied 1-standard-deviation range for FMET extends from approximately $31.66 on the downside to $41.18 on the upside. A FMET iron condor is a delta-neutral premium-collection structure that pays off when FMET 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 FMET IV rank near 40.98% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on FMET should anchor more to the directional view and the expected-move geometry. As a Financial Services name, FMET options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to FMET-specific events.

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

Frequently asked questions

What is a iron condor on FMET?: A iron condor on FMET is the iron condor strategy applied to FMET (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 FMET etf trading near $36.42, the strikes shown on this page are snapped to the nearest listed FMET chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are FMET 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 FMET iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 45.60%), the computed maximum profit is $155.00 per contract and the computed maximum loss is -$45.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a FMET iron condor?: The breakeven for the FMET iron condor priced on this page is roughly $33.45 and $39.55 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 FMET market-implied 1-standard-deviation expected move is approximately 13.07%; 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 FMET?: Iron condors on FMET are a delta-neutral premium-collection structure that profits if FMET etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
How does current FMET implied volatility affect this iron condor?: FMET ATM IV is at 45.60% with IV rank near 40.98%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.