How are LRCU 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 LRCU iron condor priced from the September 29, 2026 end-of-day chain at a 30-day expiry (ATM IV 119.40%), the computed maximum profit is $182.50 per contract and the computed maximum loss is -$117.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a LRCU iron condor?

The breakeven for the LRCU iron condor priced on this page is roughly $49.18 and $57.92 at expiration, derived from the September 29, 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 LRCU market-implied 1-standard-deviation expected move in the same options snapshot is approximately 34.23%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current LRCU implied volatility affect this iron condor?

LRCU ATM IV is at 119.40% with IV rank near 32.18%, 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.

LRCU Iron Condor Strategy

LRCU (Tradr 2X Long LRCX Daily ETF), in the Financial Services sector, (Asset Management industry), listed on CBOE.

LRCU is a short-term tactical tool that aims to deliver twice (200%) the daily performance of Lam Research Corp. (LRCX), before fees and expenses. The fund primarily enters into total return swap agreements with major global financial institutions that mirror LRCXs daily returns. In case swaps are unavailable or less efficient, the fund may use FLEX call options or directly hold LRCX stock. Purchasers holding shares for longer than a day will need to monitor and rebalance their position frequently to attempt to achieve the 2x multiple. Purchasers should conduct their own individual stock research prior to initiating a position and trade with conviction. Due to the complexities of the product, shares tend to perform as anticipated only when the underlying shares are trending and holders are on the positive corresponding side of that trade.

LRCU (Tradr 2X Long LRCX Daily ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $41.0M, a beta of 4.52 versus the broader market, a 52-week range of 14.18667-113.66, average daily share volume of 109K, a public-listing history dating back to 2025. These structural characteristics shape how LRCU etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 4.52 indicates LRCU has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.

What is a iron condor on LRCU?

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.

LRCU snapshot

As of September 29, 2026, spot at $53.17, ATM IV 119.40%, IV rank 32.18%, expected move 34.23%. The iron condor on LRCU below is built from the September 29, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 17-day expiry.

Why this iron condor structure on LRCU specifically: LRCU IV at 119.40% is mid-range versus its 1-year history, so the credit collected on a LRCU iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 34.23% (roughly $18.20 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated LRCU expiries trade a higher absolute premium for lower per-day decay. Position sizing on LRCU should anchor to the underlying notional of $53.17 per share and to the trader's directional view on LRCU etf.

LRCU iron condor setup

The LRCU iron condor below is built from the September 29, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With LRCU at $53.17 on that close, the first option leg uses a $56.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed LRCU chain at a 17-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 LRCU shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$56.00	$4.05
Buy 1	Call	$58.00	$3.48
Sell 1	Put	$51.00	$4.45
Buy 1	Put	$48.00	$3.20

LRCU iron condor risk and reward

Net Premium / Debit: +$182.50
Max Profit (per contract): $182.50
Max Loss (per contract): -$117.50
Breakeven(s): $49.18, $57.92
Risk / Reward Ratio: 1.553

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.

LRCU iron condor payoff curve

Modeled P&L at expiration across a range of underlying prices for the iron condor on LRCU. 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%	-$117.50
$11.77	-77.9%	-$117.50
$23.52	-55.8%	-$117.50
$35.28	-33.7%	-$117.50
$47.03	-11.5%	-$117.50
$58.79	+10.6%	-$17.50
$70.54	+32.7%	-$17.50
$82.30	+54.8%	-$17.50
$94.05	+76.9%	-$17.50
$105.81	+99.0%	-$17.50

When traders use iron condor on LRCU

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

LRCU thesis for this iron condor

The market-implied 1-standard-deviation range for LRCU extends from approximately $34.97 on the downside to $71.37 on the upside. A LRCU iron condor is a delta-neutral premium-collection structure that pays off when LRCU 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 LRCU IV rank near 32.18% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on LRCU should anchor more to the directional view and the expected-move geometry. As a Financial Services name, LRCU options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to LRCU-specific events.

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

Frequently asked questions

What is a iron condor on LRCU?: A iron condor on LRCU is the iron condor strategy applied to LRCU (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 LRCU etf at $53.17 on the September 29, 2026 close, the strikes shown on this page are snapped to the nearest listed LRCU chain strike and the premiums come straight from that session's bid/ask midpoint.
How are LRCU 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 LRCU iron condor priced from the September 29, 2026 end-of-day chain at a 30-day expiry (ATM IV 119.40%), the computed maximum profit is $182.50 per contract and the computed maximum loss is -$117.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a LRCU iron condor?: The breakeven for the LRCU iron condor priced on this page is roughly $49.18 and $57.92 at expiration, derived from the September 29, 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 LRCU market-implied 1-standard-deviation expected move in the same options snapshot is approximately 34.23%; 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 LRCU?: Iron condors on LRCU are a delta-neutral premium-collection structure that profits if LRCU etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
How does current LRCU implied volatility affect this iron condor?: LRCU ATM IV is at 119.40% with IV rank near 32.18%, 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.