KOID Iron Condor Strategy
KOID (KraneShares Global Humanoid Robotics and Embodied Intelligence Index ETF), in the Financial Services sector, (Asset Management - Global industry), listed on NASDAQ.
Under normal market conditions, this fund dedicates a minimum of 80% of its total assets to investments directly included in its benchmark index or to those with similar economic characteristics. The underlying index is designed to monitor the equity performance of companies primarily exposed to Asian markets, specifically those classified by FactSet within sub-industries related to robotics and/or artificial intelligence (AI). Please note that this fund operates as a non-diversified investment vehicle.
KOID (KraneShares Global Humanoid Robotics and Embodied Intelligence Index ETF) trades in the Financial Services sector, specifically Asset Management - Global, with a market capitalization of approximately $316.9M, a beta of 2.08 versus the broader market, a 52-week range of 27.74-43.32, average daily share volume of 157K, a public-listing history dating back to 2025. These structural characteristics shape how KOID etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.08 indicates KOID has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. KOID pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on KOID?
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.
KOID snapshot
As of August 14, 2026, spot at $39.32, ATM IV 30.20%, expected move 8.66%. The iron condor on KOID 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 35-day expiry.
Why this iron condor structure on KOID specifically: IV rank is unavailable in the current snapshot, so regime-based timing for KOID is inferred from ATM IV at 30.20% alone, with a market-implied 1-standard-deviation move of approximately 8.66% (roughly $3.40 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 KOID expiries trade a higher absolute premium for lower per-day decay. Position sizing on KOID should anchor to the underlying notional of $39.32 per share and to the trader's directional view on KOID etf.
KOID iron condor setup
The KOID 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 KOID at $39.32 on that close, the first option leg uses a $41.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed KOID 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 KOID shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $41.00 | $1.03 |
| Buy 1 | Call | $43.00 | $0.52 |
| Sell 1 | Put | $37.00 | $0.73 |
| Buy 1 | Put | $35.00 | $0.30 |
KOID iron condor risk and reward
- Net Premium / Debit
- +$94.00
- Max Profit (per contract)
- $94.00
- Max Loss (per contract)
- -$106.00
- Breakeven(s)
- $36.06, $41.94
- Risk / Reward Ratio
- 0.887
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.
KOID iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on KOID. 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% | -$106.00 |
| $8.70 | -77.9% | -$106.00 |
| $17.40 | -55.8% | -$106.00 |
| $26.09 | -33.7% | -$106.00 |
| $34.78 | -11.5% | -$106.00 |
| $43.47 | +10.6% | -$106.00 |
| $52.17 | +32.7% | -$106.00 |
| $60.86 | +54.8% | -$106.00 |
| $69.55 | +76.9% | -$106.00 |
| $78.24 | +99.0% | -$106.00 |
When traders use iron condor on KOID
Iron condors on KOID are a delta-neutral premium-collection structure that profits if KOID etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
KOID thesis for this iron condor
The market-implied 1-standard-deviation range for KOID extends from approximately $35.92 on the downside to $42.72 on the upside. A KOID iron condor is a delta-neutral premium-collection structure that pays off when KOID 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. As a Financial Services name, KOID options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to KOID-specific events.
KOID 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. KOID positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move KOID alongside the broader basket even when KOID-specific fundamentals are unchanged. Short-premium structures like a iron condor on KOID carry tail risk when realized volatility exceeds the implied move; review historical KOID earnings reactions and macro stress periods before sizing. Always rebuild the position from current KOID chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on KOID?
- A iron condor on KOID is the iron condor strategy applied to KOID (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 KOID etf at $39.32 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed KOID chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are KOID 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 KOID iron condor priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 30.20%), the computed maximum profit is $94.00 per contract and the computed maximum loss is -$106.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a KOID iron condor?
- The breakeven for the KOID iron condor priced on this page is roughly $36.06 and $41.94 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 KOID market-implied 1-standard-deviation expected move in the same options snapshot is approximately 8.66%; 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 KOID?
- Iron condors on KOID are a delta-neutral premium-collection structure that profits if KOID etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current KOID implied volatility affect this iron condor?
- Current KOID ATM IV is 30.20%; IV rank context is unavailable in the current snapshot.