How are OILK 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 OILK iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 138.90%), the computed maximum profit is $38.50 per contract and the computed maximum loss is -$161.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a OILK iron condor?

The breakeven for the OILK iron condor priced on this page is roughly $44.62 and $50.39 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 OILK market-implied 1-standard-deviation expected move is approximately 39.82%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current OILK implied volatility affect this iron condor?

OILK ATM IV is at 138.90% with IV rank near 100.00%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.

OILK Iron Condor Strategy

OILK (ProShares - K-1 Free Crude Oil ETF), in the Financial Services sector, (Asset Management industry), listed on CBOE.

This fund strategically allocates its assets to a variety of financial instruments, which ProShare Advisors intends to collectively mirror the performance of its underlying index. The index itself is constructed to track the price fluctuations of three distinct West Texas Intermediate (WTI) Crude Oil futures contract schedules, all actively traded on the NYMEX exchange. Each of these contract schedules contributes an identical one-third weighting to the index, with this equal distribution being re-established during semi-annual rebalancing events held in March and September.

OILK (ProShares - K-1 Free Crude Oil ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $57.7M, a beta of 1.35 versus the broader market, a 52-week range of 36.13-61.33, average daily share volume of 245K, a public-listing history dating back to 2016. These structural characteristics shape how OILK etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.35 indicates OILK has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. OILK pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a iron condor on OILK?

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 OILK snapshot

As of June 30, 2026, spot at $47.49, ATM IV 138.90%, IV rank 100.00%, expected move 39.82%. The iron condor on OILK 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 17-day expiry.

Why this iron condor structure on OILK specifically: OILK IV at 138.90% is rich versus its 1-year range, which favors premium-selling structures like a OILK iron condor, with a market-implied 1-standard-deviation move of approximately 39.82% (roughly $18.91 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 OILK expiries trade a higher absolute premium for lower per-day decay. Position sizing on OILK should anchor to the underlying notional of $47.49 per share and to the trader's directional view on OILK etf.

OILK iron condor setup

The OILK 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 OILK near $47.49, the first option leg uses a $50.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed OILK 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 OILK shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$50.00	$0.50
Buy 1	Call	$52.00	$0.43
Sell 1	Put	$45.00	$0.98
Buy 1	Put	$44.00	$0.67

OILK iron condor risk and reward

Net Premium / Debit: +$38.50
Max Profit (per contract): $38.50
Max Loss (per contract): -$161.50
Breakeven(s): $44.62, $50.39
Risk / Reward Ratio: 0.238

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.

OILK iron condor payoff curve

Modeled P&L at expiration across a range of underlying prices for the iron condor on OILK. 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%	-$61.50
$10.51	-77.9%	-$61.50
$21.01	-55.8%	-$61.50
$31.51	-33.7%	-$61.50
$42.01	-11.5%	-$61.50
$52.51	+10.6%	-$161.50
$63.01	+32.7%	-$161.50
$73.50	+54.8%	-$161.50
$84.00	+76.9%	-$161.50
$94.50	+99.0%	-$161.50

When traders use iron condor on OILK

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

OILK thesis for this iron condor

The market-implied 1-standard-deviation range for OILK extends from approximately $28.58 on the downside to $66.40 on the upside. A OILK iron condor is a delta-neutral premium-collection structure that pays off when OILK 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 OILK IV rank near 100.00% sits in the upper third of its 1-year distribution, which historically reverts; this raises the bar for premium-buying structures and lowers it for premium-selling structures on OILK at 138.90%. As a Financial Services name, OILK options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to OILK-specific events.

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

Frequently asked questions

What is a iron condor on OILK?: A iron condor on OILK is the iron condor strategy applied to OILK (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 OILK etf trading near $47.49, the strikes shown on this page are snapped to the nearest listed OILK chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are OILK 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 OILK iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 138.90%), the computed maximum profit is $38.50 per contract and the computed maximum loss is -$161.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a OILK iron condor?: The breakeven for the OILK iron condor priced on this page is roughly $44.62 and $50.39 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 OILK market-implied 1-standard-deviation expected move is approximately 39.82%; 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 OILK?: Iron condors on OILK are a delta-neutral premium-collection structure that profits if OILK etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
How does current OILK implied volatility affect this iron condor?: OILK ATM IV is at 138.90% with IV rank near 100.00%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.