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 August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 90.70%), the computed maximum profit is $85.00 per contract and the computed maximum loss is -$15.00 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 roughly $17.15 and $20.85 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 PTIR market-implied 1-standard-deviation expected move in the same options snapshot is approximately 26.00%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current PTIR implied volatility affect this iron condor?

PTIR ATM IV is at 90.70% with IV rank near 55.85%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.

PTIR Iron Condor Strategy

PTIR (GraniteShares 2x Long PLTR Daily ETF), in the Financial Services sector, (Asset Management - Leveraged industry), listed on NASDAQ.

This Fund aims to deliver daily investment performance that, before accounting for fees and expenses, is equivalent to two times (200%) the daily percentage movement of Palantir Technologies Inc.'s common stock (NASDAQ: PLTR). It is important to note that the Fund cannot guarantee it will consistently achieve this objective. Furthermore, for holding periods extending beyond a single day, investors should not anticipate its cumulative return to directly correspond to twice the cumulative return of PLTR.

PTIR (GraniteShares 2x Long PLTR Daily ETF) trades in the Financial Services sector, specifically Asset Management - Leveraged, with a market capitalization of approximately $515.2M, a beta of 2.34 versus the broader market, a 52-week range of 7.845-40.78, average daily share volume of 5.4M, 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 2.34 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.

PTIR snapshot

As of August 14, 2026, spot at $18.98, ATM IV 90.70%, IV rank 55.85%, expected move 26.00%. The iron condor on PTIR 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 PTIR specifically: PTIR IV at 90.70% is mid-range versus its 1-year history, so the credit collected on a PTIR iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 26.00% (roughly $4.94 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 PTIR expiries trade a higher absolute premium for lower per-day decay. Position sizing on PTIR should anchor to the underlying notional of $18.98 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 August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With PTIR at $18.98 on that close, 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 PTIR 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 PTIR shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$20.00	$1.60
Buy 1	Call	$21.00	$1.25
Sell 1	Put	$18.00	$1.48
Buy 1	Put	$17.00	$0.98

PTIR iron condor risk and reward

Net Premium / Debit: +$85.00
Max Profit (per contract): $85.00
Max Loss (per contract): -$15.00
Breakeven(s): $17.15, $20.85
Risk / Reward Ratio: 5.667

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.

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	-99.9%	-$15.00
$4.21	-77.8%	-$15.00
$8.40	-55.7%	-$15.00
$12.60	-33.6%	-$15.00
$16.79	-11.5%	-$15.00
$20.99	+10.6%	-$13.74
$25.18	+32.7%	-$15.00
$29.38	+54.8%	-$15.00
$33.57	+76.9%	-$15.00
$37.77	+99.0%	-$15.00

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 $14.04 on the downside to $23.92 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 55.85% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on PTIR should anchor more to the directional view and the expected-move geometry. 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 at $18.98 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed PTIR chain strike and the premiums come straight from that session's 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 August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 90.70%), the computed maximum profit is $85.00 per contract and the computed maximum loss is -$15.00 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 roughly $17.15 and $20.85 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 PTIR market-implied 1-standard-deviation expected move in the same options snapshot is approximately 26.00%; 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 90.70% with IV rank near 55.85%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.