How are SKHN 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 SKHN iron condor priced from the September 29, 2026 end-of-day chain at a 30-day expiry (ATM IV 110.80%), the computed maximum profit is $50.00 per contract and the computed maximum loss is -$50.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a SKHN iron condor?

The breakeven for the SKHN iron condor priced on this page is roughly $9.50 at expiration, derived from the September 29, 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 SKHN market-implied 1-standard-deviation expected move in the same options snapshot is approximately 31.77%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current SKHN implied volatility affect this iron condor?

Current SKHN ATM IV is 110.80%; IV rank context is unavailable in the current snapshot.

SKHN Iron Condor Strategy

SKHN (Investment Managers Series Trust II - Tradr 2X Short SK Hynix Daily ETF), in the Financial Services sector, (Asset Management industry), listed on CBOE.

SKHN is a short-term tactical tool that aims to deliver -2x the price return, less fees and expenses, for a single day of SK hynix, Inc. (Nasdaq: SKHY) stock. SKHY engages in the design, manufacture, and sale of semiconductor products. Its products include dynamic random access memory, not-AND flash memory, and multi-chip package. Purchasers holding shares for longer than a day will need to monitor and rebalance their position frequently to attempt to achieve the -2x multiple. Aside from the inverse exposure, the shares take on added volatility due to the lack of diversification. Purchasers should conduct their own individual stock research prior to initiating a position and trade with conviction.

SKHN (Investment Managers Series Trust II - Tradr 2X Short SK Hynix Daily ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $482,398, a beta of 0.00 versus the broader market, a 52-week range of 9.35-31.85, average daily share volume of 54K, a public-listing history dating back to 2026. These structural characteristics shape how SKHN etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.00 indicates SKHN has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure.

What is a iron condor on SKHN?

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.

SKHN snapshot

As of September 29, 2026, spot at $10.22, ATM IV 110.80%, expected move 31.77%. The iron condor on SKHN below is built from the September 29, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 80-day expiry.

Why this iron condor structure on SKHN specifically: IV rank is unavailable in the current snapshot, so regime-based timing for SKHN is inferred from ATM IV at 110.80% alone, with a market-implied 1-standard-deviation move of approximately 31.77% (roughly $3.25 on the underlying). The 80-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated SKHN expiries trade a higher absolute premium for lower per-day decay. Position sizing on SKHN should anchor to the underlying notional of $10.22 per share and to the trader's directional view on SKHN etf.

SKHN iron condor setup

The SKHN iron condor below is built from the September 29, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With SKHN at $10.22 on that close, the first option leg uses a $11.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed SKHN chain at a 80-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 SKHN shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$11.00	$1.93
Buy 1	Call	$11.00	$1.93
Sell 1	Put	$10.00	$1.98
Buy 1	Put	$9.00	$1.48

SKHN iron condor risk and reward

Net Premium / Debit: +$50.00
Max Profit (per contract): $50.00
Max Loss (per contract): -$50.00
Breakeven(s): $9.50
Risk / Reward Ratio: 1.000

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.

SKHN iron condor payoff curve

Modeled P&L at expiration across a range of underlying prices for the iron condor on SKHN. 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%	-$50.00
$2.27	-77.8%	-$50.00
$4.53	-55.7%	-$50.00
$6.79	-33.6%	-$50.00
$9.04	-11.5%	-$45.56
$11.30	+10.6%	+$50.00
$13.56	+32.7%	+$50.00
$15.82	+54.8%	+$50.00
$18.08	+76.9%	+$50.00
$20.34	+99.0%	+$50.00

When traders use iron condor on SKHN

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

SKHN thesis for this iron condor

The market-implied 1-standard-deviation range for SKHN extends from approximately $6.97 on the downside to $13.47 on the upside. A SKHN iron condor is a delta-neutral premium-collection structure that pays off when SKHN 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, SKHN options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to SKHN-specific events.

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

Frequently asked questions

What is a iron condor on SKHN?: A iron condor on SKHN is the iron condor strategy applied to SKHN (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 SKHN etf at $10.22 on the September 29, 2026 close, the strikes shown on this page are snapped to the nearest listed SKHN chain strike and the premiums come straight from that session's bid/ask midpoint.
How are SKHN 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 SKHN iron condor priced from the September 29, 2026 end-of-day chain at a 30-day expiry (ATM IV 110.80%), the computed maximum profit is $50.00 per contract and the computed maximum loss is -$50.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a SKHN iron condor?: The breakeven for the SKHN iron condor priced on this page is roughly $9.50 at expiration, derived from the September 29, 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 SKHN market-implied 1-standard-deviation expected move in the same options snapshot is approximately 31.77%; 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 SKHN?: Iron condors on SKHN are a delta-neutral premium-collection structure that profits if SKHN etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
How does current SKHN implied volatility affect this iron condor?: Current SKHN ATM IV is 110.80%; IV rank context is unavailable in the current snapshot.