How are FTXO 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 FTXO iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 31.70%), the computed maximum profit is $72.00 per contract and the computed maximum loss is -$228.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a FTXO iron condor?

The breakeven for the FTXO iron condor priced on this page is roughly $39.28 and $44.72 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 FTXO market-implied 1-standard-deviation expected move is approximately 9.09%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current FTXO implied volatility affect this iron condor?

FTXO ATM IV is at 31.70% with IV rank near 4.70%, 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.

FTXO Iron Condor Strategy

FTXO (First Trust Nasdaq Bank ETF), in the Financial Services sector, (Asset Management - Global industry), listed on NASDAQ.

The First Trust Nasdaq Bank ETF is an exchange-traded fund primarily designed to largely track the performance of the Nasdaq US Smart Banks Index. Its main objective is to deliver investment results, encompassing both capital appreciation and income, that generally align with the index's returns, before accounting for the fund's own operational expenses. It accomplishes this by mirroring the underlying securities and their proportional allocations within the Nasdaq US Smart Banks Index, aiming for a performance correlation of at least 95% with that benchmark.

FTXO (First Trust Nasdaq Bank ETF) trades in the Financial Services sector, specifically Asset Management - Global, with a market capitalization of approximately $286.9M, a beta of 1.19 versus the broader market, a 52-week range of 32.57-42.21, average daily share volume of 143K, a public-listing history dating back to 2016. These structural characteristics shape how FTXO etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.19 places FTXO roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. FTXO pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a iron condor on FTXO?

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 FTXO snapshot

As of June 29, 2026, spot at $41.59, ATM IV 31.70%, IV rank 4.70%, expected move 9.09%. The iron condor on FTXO 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 18-day expiry.

Why this iron condor structure on FTXO specifically: FTXO IV at 31.70% is on the cheap side of its 1-year range, which means a premium-selling FTXO iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 9.09% (roughly $3.78 on the underlying). The 18-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated FTXO expiries trade a higher absolute premium for lower per-day decay. Position sizing on FTXO should anchor to the underlying notional of $41.59 per share and to the trader's directional view on FTXO etf.

FTXO iron condor setup

The FTXO 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 FTXO near $41.59, the first option leg uses a $44.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed FTXO chain at a 18-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 FTXO shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$44.00	$0.38
Buy 1	Call	$46.00	$0.11
Sell 1	Put	$40.00	$0.50
Buy 1	Put	$37.00	$0.05

FTXO iron condor risk and reward

Net Premium / Debit: +$72.00
Max Profit (per contract): $72.00
Max Loss (per contract): -$228.00
Breakeven(s): $39.28, $44.72
Risk / Reward Ratio: 0.316

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.

FTXO iron condor payoff curve

Modeled P&L at expiration across a range of underlying prices for the iron condor on FTXO. 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%	-$228.00
$9.20	-77.9%	-$228.00
$18.40	-55.8%	-$228.00
$27.59	-33.7%	-$228.00
$36.79	-11.5%	-$228.00
$45.98	+10.6%	-$126.34
$55.18	+32.7%	-$128.00
$64.37	+54.8%	-$128.00
$73.57	+76.9%	-$128.00
$82.76	+99.0%	-$128.00

When traders use iron condor on FTXO

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

FTXO thesis for this iron condor

The market-implied 1-standard-deviation range for FTXO extends from approximately $37.81 on the downside to $45.37 on the upside. A FTXO iron condor is a delta-neutral premium-collection structure that pays off when FTXO 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 FTXO IV rank near 4.70% 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 FTXO at 31.70%. As a Financial Services name, FTXO options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to FTXO-specific events.

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

Frequently asked questions

What is a iron condor on FTXO?: A iron condor on FTXO is the iron condor strategy applied to FTXO (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 FTXO etf trading near $41.59, the strikes shown on this page are snapped to the nearest listed FTXO chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are FTXO 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 FTXO iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 31.70%), the computed maximum profit is $72.00 per contract and the computed maximum loss is -$228.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a FTXO iron condor?: The breakeven for the FTXO iron condor priced on this page is roughly $39.28 and $44.72 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 FTXO market-implied 1-standard-deviation expected move is approximately 9.09%; 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 FTXO?: Iron condors on FTXO are a delta-neutral premium-collection structure that profits if FTXO etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
How does current FTXO implied volatility affect this iron condor?: FTXO ATM IV is at 31.70% with IV rank near 4.70%, 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.