PTIR Iron Condor Strategy
PTIR (GraniteShares 2x Long PLTR Daily ETF), in the Financial Services sector, (Asset Management industry), listed on NASDAQ.
The Fund seeks daily investment results, before fees and expenses, of 2 times (200%) the daily percentage change of the common stock of Palantir Technologies Inc, (NASDAQ: PLTR) There is no guarantee that the Fund will meet its stated objective. The fund should not be expected to provide 2 times the cumulative return of PLTR for periods greater than a day.
PTIR (GraniteShares 2x Long PLTR Daily ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $362.4M, a beta of 1.87 versus the broader market, a 52-week range of 11.32-40.78, average daily share volume of 5.2M, a public-listing history dating back to 2024. These structural characteristics shape how PTIR etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.87 indicates PTIR has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. PTIR pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on PTIR?
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 PTIR snapshot
As of May 15, 2026, spot at $13.14, ATM IV 101.20%, IV rank 24.90%, expected move 29.01%. The iron condor on PTIR 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 PTIR specifically: PTIR IV at 101.20% is on the cheap side of its 1-year range, which means a premium-selling PTIR iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 29.01% (roughly $3.81 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 PTIR expiries trade a higher absolute premium for lower per-day decay. Position sizing on PTIR should anchor to the underlying notional of $13.14 per share and to the trader's directional view on PTIR etf.
PTIR iron condor setup
The PTIR 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 PTIR near $13.14, the first option leg uses a $14.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed PTIR 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 PTIR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $14.00 | $1.15 |
| Buy 1 | Call | $14.00 | $1.15 |
| Sell 1 | Put | $12.00 | $0.90 |
| Buy 1 | Put | $12.00 | $0.90 |
PTIR iron condor risk and reward
- Net Premium / Debit
- $0.00
- Max Profit (per contract)
- $0.00
- Max Loss (per contract)
- $0.00
- Breakeven(s)
- None on modeled curve
- Risk / Reward Ratio
- N/A
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.
PTIR iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on PTIR. 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% | $0.00 |
| $2.91 | -77.8% | $0.00 |
| $5.82 | -55.7% | $0.00 |
| $8.72 | -33.6% | $0.00 |
| $11.63 | -11.5% | $0.00 |
| $14.53 | +10.6% | $0.00 |
| $17.44 | +32.7% | $0.00 |
| $20.34 | +54.8% | $0.00 |
| $23.24 | +76.9% | $0.00 |
| $26.15 | +99.0% | $0.00 |
When traders use iron condor on PTIR
Iron condors on PTIR are a delta-neutral premium-collection structure that profits if PTIR etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
PTIR thesis for this iron condor
The market-implied 1-standard-deviation range for PTIR extends from approximately $9.33 on the downside to $16.95 on the upside. A PTIR iron condor is a delta-neutral premium-collection structure that pays off when PTIR 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 PTIR IV rank near 24.90% 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 PTIR at 101.20%. As a Financial Services name, PTIR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to PTIR-specific events.
PTIR 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. PTIR positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move PTIR alongside the broader basket even when PTIR-specific fundamentals are unchanged. Short-premium structures like a iron condor on PTIR carry tail risk when realized volatility exceeds the implied move; review historical PTIR earnings reactions and macro stress periods before sizing. Always rebuild the position from current PTIR chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on PTIR?
- A iron condor on PTIR is the iron condor strategy applied to PTIR (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 PTIR etf trading near $13.14, the strikes shown on this page are snapped to the nearest listed PTIR chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are PTIR 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 PTIR iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 101.20%), the computed maximum profit is $0.00 per contract and the computed maximum loss is $0.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a PTIR iron condor?
- The breakeven for the PTIR iron condor priced on this page is no defined breakeven on the modeled curve 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 PTIR market-implied 1-standard-deviation expected move is approximately 29.01%; 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 PTIR?
- Iron condors on PTIR are a delta-neutral premium-collection structure that profits if PTIR etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current PTIR implied volatility affect this iron condor?
- PTIR ATM IV is at 101.20% with IV rank near 24.90%, 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.