JSTC Iron Condor Strategy
JSTC (Adasina Social Justice All Cap Global ETF), in the Financial Services sector, (Asset Management - Global industry), listed on AMEX.
This actively managed exchange-traded fund (ETF) seeks to achieve its investment objectives by allocating capital to a global portfolio of companies. These businesses are carefully selected based on their operational practices aligning with the social justice investment criteria established by the fund's sub-adviser. Under typical market conditions, the fund will diversify its holdings across a minimum of three different countries, one of which may be the United States. Furthermore, at least 40% of its total assets, at the time of acquisition, will be dedicated to enterprises based outside the U.S.
JSTC (Adasina Social Justice All Cap Global ETF) trades in the Financial Services sector, specifically Asset Management - Global, with a market capitalization of approximately $313.5M, a beta of 0.87 versus the broader market, a 52-week range of 18.9-23.63, average daily share volume of 25K, a public-listing history dating back to 2020. These structural characteristics shape how JSTC etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.87 places JSTC roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. JSTC pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on JSTC?
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.
JSTC snapshot
As of August 14, 2026, spot at $23.74, ATM IV 35.60%, IV rank 1.90%, expected move 10.21%. The iron condor on JSTC below is built from the 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 JSTC specifically: JSTC IV at 35.60% is on the cheap side of its 1-year range, which means a premium-selling JSTC iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 10.21% (roughly $2.42 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated JSTC expiries trade a higher absolute premium for lower per-day decay. Position sizing on JSTC should anchor to the underlying notional of $23.74 per share and to the trader's directional view on JSTC etf.
JSTC iron condor setup
The JSTC 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 JSTC at $23.74 on that close, the first option leg uses a $24.93 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed JSTC 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 JSTC shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $24.93 | N/A |
| Buy 1 | Call | $26.11 | N/A |
| Sell 1 | Put | $22.55 | N/A |
| Buy 1 | Put | $21.37 | N/A |
JSTC 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.
JSTC iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on JSTC. 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 JSTC
Iron condors on JSTC are a delta-neutral premium-collection structure that profits if JSTC etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
JSTC thesis for this iron condor
The market-implied 1-standard-deviation range for JSTC extends from approximately $21.32 on the downside to $26.16 on the upside. A JSTC iron condor is a delta-neutral premium-collection structure that pays off when JSTC 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 JSTC IV rank near 1.90% 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 JSTC at 35.60%. As a Financial Services name, JSTC options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to JSTC-specific events.
JSTC 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. JSTC positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move JSTC alongside the broader basket even when JSTC-specific fundamentals are unchanged. Short-premium structures like a iron condor on JSTC carry tail risk when realized volatility exceeds the implied move; review historical JSTC earnings reactions and macro stress periods before sizing. Always rebuild the position from current JSTC chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on JSTC?
- A iron condor on JSTC is the iron condor strategy applied to JSTC (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 JSTC etf at $23.74 on the most recent close, the strikes shown on this page are snapped to the nearest listed JSTC chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are JSTC 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 JSTC iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 35.60%), 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 JSTC iron condor?
- The breakeven for the JSTC iron condor priced on this page is no defined breakeven on the modeled curve at expiration, derived from the 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 JSTC market-implied 1-standard-deviation expected move in the same options snapshot is approximately 10.21%; 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 JSTC?
- Iron condors on JSTC are a delta-neutral premium-collection structure that profits if JSTC etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current JSTC implied volatility affect this iron condor?
- JSTC ATM IV is at 35.60% with IV rank near 1.90%, 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.