How are MOAT 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 MOAT iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 13.60%), the computed maximum profit is $155.00 per contract and the computed maximum loss is -$445.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a MOAT iron condor?

The breakeven for the MOAT iron condor priced on this page is roughly $97.45 and $110.55 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 MOAT market-implied 1-standard-deviation expected move is approximately 3.90%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current MOAT implied volatility affect this iron condor?

MOAT ATM IV is at 13.60% with IV rank near 1.14%, 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.

MOAT Iron Condor Strategy

MOAT (VanEck Morningstar Wide Moat ETF), in the Financial Services sector, (Asset Management industry), listed on CBOE.

The fund normally invests at least 80% of its total assets in securities that comprise the fund's benchmark index. The index is comprised of securities issued by companies that Morningstar, Inc. ("Morningstar") determines to have sustainable competitive advantages based on a proprietary methodology that considers quantitative and qualitative factors ("wide moat companies"). The fund is non-diversified.

MOAT (VanEck Morningstar Wide Moat ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $11.80B, a beta of 0.94 versus the broader market, a 52-week range of 93.45-108.1, average daily share volume of 944K, a public-listing history dating back to 2012. These structural characteristics shape how MOAT etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.94 places MOAT roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. MOAT pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a iron condor on MOAT?

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 MOAT snapshot

As of June 30, 2026, spot at $103.94, ATM IV 13.60%, IV rank 1.14%, expected move 3.90%. The iron condor on MOAT 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 80-day expiry.

Why this iron condor structure on MOAT specifically: MOAT IV at 13.60% is on the cheap side of its 1-year range, which means a premium-selling MOAT iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 3.90% (roughly $4.05 on the underlying). The 80-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated MOAT expiries trade a higher absolute premium for lower per-day decay. Position sizing on MOAT should anchor to the underlying notional of $103.94 per share and to the trader's directional view on MOAT etf.

MOAT iron condor setup

The MOAT 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 MOAT near $103.94, the first option leg uses a $109.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed MOAT chain at a 80-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 MOAT shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$109.00	$1.73
Buy 1	Call	$115.00	$1.40
Sell 1	Put	$99.00	$1.83
Buy 1	Put	$95.00	$0.60

MOAT iron condor risk and reward

Net Premium / Debit: +$155.00
Max Profit (per contract): $155.00
Max Loss (per contract): -$445.00
Breakeven(s): $97.45, $110.55
Risk / Reward Ratio: 0.348

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.

MOAT iron condor payoff curve

Modeled P&L at expiration across a range of underlying prices for the iron condor on MOAT. 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%	-$245.00
$22.99	-77.9%	-$245.00
$45.97	-55.8%	-$245.00
$68.95	-33.7%	-$245.00
$91.93	-11.6%	-$245.00
$114.91	+10.6%	-$436.30
$137.89	+32.7%	-$445.00
$160.87	+54.8%	-$445.00
$183.85	+76.9%	-$445.00
$206.84	+99.0%	-$445.00

When traders use iron condor on MOAT

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

MOAT thesis for this iron condor

The market-implied 1-standard-deviation range for MOAT extends from approximately $99.89 on the downside to $107.99 on the upside. A MOAT iron condor is a delta-neutral premium-collection structure that pays off when MOAT 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 MOAT IV rank near 1.14% 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 MOAT at 13.60%. As a Financial Services name, MOAT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to MOAT-specific events.

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

Frequently asked questions

What is a iron condor on MOAT?: A iron condor on MOAT is the iron condor strategy applied to MOAT (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 MOAT etf trading near $103.94, the strikes shown on this page are snapped to the nearest listed MOAT chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are MOAT 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 MOAT iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 13.60%), the computed maximum profit is $155.00 per contract and the computed maximum loss is -$445.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a MOAT iron condor?: The breakeven for the MOAT iron condor priced on this page is roughly $97.45 and $110.55 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 MOAT market-implied 1-standard-deviation expected move is approximately 3.90%; 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 MOAT?: Iron condors on MOAT are a delta-neutral premium-collection structure that profits if MOAT etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
How does current MOAT implied volatility affect this iron condor?: MOAT ATM IV is at 13.60% with IV rank near 1.14%, 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.