GAMR Iron Condor Strategy
GAMR (Amplify Video Game Leaders ETF), in the Financial Services sector, (Asset Management industry), listed on AMEX.
GAMR provides exposure to the global video gaming industry by investing in companies comprising the video game value chain. The initial universe is identified based on listing, liquidity, size, and revenue requirements. Eligible securities are then ranked according to market-cap with the top 20 companies included in the index. The index imposes a banded market-cap ranking to weight the constituents wherein securities are divided into three bands based on size. The first band consists of the top five companies, each receiving a 10% weighting. The second band comprises the 6th10th ranked companies, each given a 5% weighting.
GAMR (Amplify Video Game Leaders ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $41.1M, a beta of 1.36 versus the broader market, a 52-week range of 71.43-103.93, average daily share volume of 1K, a public-listing history dating back to 2016. These structural characteristics shape how GAMR etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.36 indicates GAMR has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. GAMR pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on GAMR?
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.
GAMR snapshot
As of August 14, 2026, spot at $99.00, ATM IV 22.20%, IV rank 1.84%, expected move 6.36%. The iron condor on GAMR below is built from the August 14, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 7-day expiry.
Why this iron condor structure on GAMR specifically: GAMR IV at 22.20% is on the cheap side of its 1-year range, which means a premium-selling GAMR iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 6.36% (roughly $6.30 on the underlying). The 7-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated GAMR expiries trade a higher absolute premium for lower per-day decay. Position sizing on GAMR should anchor to the underlying notional of $99.00 per share and to the trader's directional view on GAMR etf.
GAMR iron condor setup
The GAMR iron condor below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With GAMR at $99.00 on that close, the first option leg uses a $103.95 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed GAMR chain at a 7-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 GAMR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $103.95 | N/A |
| Buy 1 | Call | $108.90 | N/A |
| Sell 1 | Put | $94.05 | N/A |
| Buy 1 | Put | $89.10 | N/A |
GAMR iron condor risk and reward
- Net Premium / Debit
- N/A
- Max Profit (per contract)
- Unbounded
- Max Loss (per contract)
- Unbounded
- Breakeven(s)
- None on modeled curve
- Risk / Reward Ratio
- N/A
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.
GAMR iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on GAMR. 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.
When traders use iron condor on GAMR
Iron condors on GAMR are a delta-neutral premium-collection structure that profits if GAMR etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
GAMR thesis for this iron condor
The market-implied 1-standard-deviation range for GAMR extends from approximately $92.70 on the downside to $105.30 on the upside. A GAMR iron condor is a delta-neutral premium-collection structure that pays off when GAMR 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 GAMR IV rank near 1.84% 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 GAMR at 22.20%. As a Financial Services name, GAMR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to GAMR-specific events.
GAMR 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. GAMR positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move GAMR alongside the broader basket even when GAMR-specific fundamentals are unchanged. Short-premium structures like a iron condor on GAMR carry tail risk when realized volatility exceeds the implied move; review historical GAMR earnings reactions and macro stress periods before sizing. Always rebuild the position from current GAMR chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on GAMR?
- A iron condor on GAMR is the iron condor strategy applied to GAMR (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 GAMR etf at $99.00 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed GAMR chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are GAMR 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 GAMR iron condor priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 22.20%), the computed maximum profit is unbounded per contract and the computed maximum loss is unbounded per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a GAMR iron condor?
- The breakeven for the GAMR iron condor priced on this page is no defined breakeven on the modeled curve at expiration, derived from the August 14, 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. The GAMR market-implied 1-standard-deviation expected move in the same options snapshot is approximately 6.36%; 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 GAMR?
- Iron condors on GAMR are a delta-neutral premium-collection structure that profits if GAMR etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current GAMR implied volatility affect this iron condor?
- GAMR ATM IV is at 22.20% with IV rank near 1.84%, 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.