NEMG Iron Condor Strategy
NEMG (Leverage Shares 2x Long NEM Daily ETF), in the Financial Services sector, (Asset Management industry), listed on NASDAQ.
The Leverage Shares 2x Long NEM Daily ETF (NEMG) is a 2x Daily Leveraged (Bull) ETF designed for active traders seeking to magnify short-term results. The NEMG ETF aims to achieve two times (200%) the daily performance of NEM stock, minus fees and expenses.
NEMG (Leverage Shares 2x Long NEM Daily ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $437,679, a beta of 1.13 versus the broader market, a 52-week range of 13.01-33.47, average daily share volume of 15K, a public-listing history dating back to 2025. These structural characteristics shape how NEMG etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.13 places NEMG roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.
What is a iron condor on NEMG?
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 NEMG snapshot
As of May 15, 2026, spot at $19.28, ATM IV 89.70%, expected move 25.72%. The iron condor on NEMG 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 34-day expiry.
Why this iron condor structure on NEMG specifically: IV rank is unavailable in the current snapshot, so regime-based timing for NEMG is inferred from ATM IV at 89.70% alone, with a market-implied 1-standard-deviation move of approximately 25.72% (roughly $4.96 on the underlying). The 34-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated NEMG expiries trade a higher absolute premium for lower per-day decay. Position sizing on NEMG should anchor to the underlying notional of $19.28 per share and to the trader's directional view on NEMG etf.
NEMG iron condor setup
The NEMG 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 NEMG near $19.28, the first option leg uses a $20.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed NEMG chain at a 34-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 NEMG shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $20.00 | $1.85 |
| Buy 1 | Call | $21.00 | $1.48 |
| Sell 1 | Put | $18.00 | $1.38 |
| Buy 1 | Put | $17.00 | $0.97 |
NEMG iron condor risk and reward
- Net Premium / Debit
- +$78.00
- Max Profit (per contract)
- $78.00
- Max Loss (per contract)
- -$22.00
- Breakeven(s)
- $17.22, $20.78
- Risk / Reward Ratio
- 3.545
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.
NEMG iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on NEMG. 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 | -99.9% | -$22.00 |
| $4.27 | -77.8% | -$22.00 |
| $8.53 | -55.7% | -$22.00 |
| $12.80 | -33.6% | -$22.00 |
| $17.06 | -11.5% | -$16.28 |
| $21.32 | +10.6% | -$22.00 |
| $25.58 | +32.7% | -$22.00 |
| $29.84 | +54.8% | -$22.00 |
| $34.10 | +76.9% | -$22.00 |
| $38.37 | +99.0% | -$22.00 |
When traders use iron condor on NEMG
Iron condors on NEMG are a delta-neutral premium-collection structure that profits if NEMG etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
NEMG thesis for this iron condor
The market-implied 1-standard-deviation range for NEMG extends from approximately $14.32 on the downside to $24.24 on the upside. A NEMG iron condor is a delta-neutral premium-collection structure that pays off when NEMG 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, NEMG options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to NEMG-specific events.
NEMG 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. NEMG positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move NEMG alongside the broader basket even when NEMG-specific fundamentals are unchanged. Short-premium structures like a iron condor on NEMG carry tail risk when realized volatility exceeds the implied move; review historical NEMG earnings reactions and macro stress periods before sizing. Always rebuild the position from current NEMG chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on NEMG?
- A iron condor on NEMG is the iron condor strategy applied to NEMG (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 NEMG etf trading near $19.28, the strikes shown on this page are snapped to the nearest listed NEMG chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are NEMG 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 NEMG iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 89.70%), the computed maximum profit is $78.00 per contract and the computed maximum loss is -$22.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a NEMG iron condor?
- The breakeven for the NEMG iron condor priced on this page is roughly $17.22 and $20.78 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 NEMG market-implied 1-standard-deviation expected move is approximately 25.72%; 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 NEMG?
- Iron condors on NEMG are a delta-neutral premium-collection structure that profits if NEMG etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current NEMG implied volatility affect this iron condor?
- Current NEMG ATM IV is 89.70%; IV rank context is unavailable in the current snapshot.