PSCT Iron Condor Strategy
PSCT (Invesco S&P SmallCap Information Technology ETF), in the Financial Services sector, (Asset Management - Global industry), listed on NASDAQ.
The Invesco S&P SmallCap Information Technology ETF (referred to as the "Fund") tracks the performance of the S&P SmallCap 600 Capped Information Technology Index (the "Index"). Typically, the Fund allocates a minimum of 90% of its total investments to the specific securities included in this Index. The Index itself is designed to measure the collective performance of American companies operating in the information technology sector. These companies primarily specialize in offering IT-related products and services, such as computer hardware, software, internet services, electronics, semiconductors, and various communication technologies. Notably, this specialized Index forms a segment of the broader S&P SmallCap 600 Index, which utilizes a float-adjusted, market-capitalization-weighted methodology to represent the U.S. small-capitalization equity market. Both the Fund and its benchmark Index undergo rebalancing and reconstitution on a quarterly schedule.
PSCT (Invesco S&P SmallCap Information Technology ETF) trades in the Financial Services sector, specifically Asset Management - Global, with a market capitalization of approximately $435.8M, a beta of 1.65 versus the broader market, a 52-week range of 45.59-92.45, average daily share volume of 40K, a public-listing history dating back to 2010. These structural characteristics shape how PSCT etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.65 indicates PSCT has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. PSCT pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on PSCT?
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.
PSCT snapshot
As of August 14, 2026, spot at $83.22, ATM IV 30.10%, IV rank 12.22%, expected move 8.63%. The iron condor on PSCT 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 PSCT specifically: PSCT IV at 30.10% is on the cheap side of its 1-year range, which means a premium-selling PSCT iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 8.63% (roughly $7.18 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 PSCT expiries trade a higher absolute premium for lower per-day decay. Position sizing on PSCT should anchor to the underlying notional of $83.22 per share and to the trader's directional view on PSCT etf.
PSCT iron condor setup
The PSCT 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 PSCT at $83.22 on that close, the first option leg uses a $87.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed PSCT 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 PSCT shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $87.00 | $1.45 |
| Buy 1 | Call | $92.00 | $0.69 |
| Sell 1 | Put | $79.00 | $1.45 |
| Buy 1 | Put | $75.00 | $0.60 |
PSCT iron condor risk and reward
- Net Premium / Debit
- +$161.00
- Max Profit (per contract)
- $161.00
- Max Loss (per contract)
- -$339.00
- Breakeven(s)
- $77.39, $88.61
- Risk / Reward Ratio
- 0.475
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.
PSCT iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on PSCT. 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% | -$239.00 |
| $18.41 | -77.9% | -$239.00 |
| $36.81 | -55.8% | -$239.00 |
| $55.21 | -33.7% | -$239.00 |
| $73.61 | -11.6% | -$239.00 |
| $92.01 | +10.6% | -$339.00 |
| $110.41 | +32.7% | -$339.00 |
| $128.81 | +54.8% | -$339.00 |
| $147.20 | +76.9% | -$339.00 |
| $165.60 | +99.0% | -$339.00 |
When traders use iron condor on PSCT
Iron condors on PSCT are a delta-neutral premium-collection structure that profits if PSCT etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
PSCT thesis for this iron condor
The market-implied 1-standard-deviation range for PSCT extends from approximately $76.04 on the downside to $90.40 on the upside. A PSCT iron condor is a delta-neutral premium-collection structure that pays off when PSCT 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 PSCT IV rank near 12.22% 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 PSCT at 30.10%. As a Financial Services name, PSCT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to PSCT-specific events.
PSCT 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. PSCT positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move PSCT alongside the broader basket even when PSCT-specific fundamentals are unchanged. Short-premium structures like a iron condor on PSCT carry tail risk when realized volatility exceeds the implied move; review historical PSCT earnings reactions and macro stress periods before sizing. Always rebuild the position from current PSCT chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on PSCT?
- A iron condor on PSCT is the iron condor strategy applied to PSCT (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 PSCT etf at $83.22 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed PSCT chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are PSCT 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 PSCT iron condor priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 30.10%), the computed maximum profit is $161.00 per contract and the computed maximum loss is -$339.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a PSCT iron condor?
- The breakeven for the PSCT iron condor priced on this page is roughly $77.39 and $88.61 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 PSCT market-implied 1-standard-deviation expected move in the same options snapshot is approximately 8.63%; 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 PSCT?
- Iron condors on PSCT are a delta-neutral premium-collection structure that profits if PSCT etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current PSCT implied volatility affect this iron condor?
- PSCT ATM IV is at 30.10% with IV rank near 12.22%, 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.