How are TSLT 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 TSLT iron condor priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 77.20%), 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 TSLT iron condor?

The breakeven for the TSLT iron condor priced on this page is roughly $11.50 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 TSLT market-implied 1-standard-deviation expected move in the same options snapshot is approximately 22.13%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current TSLT implied volatility affect this iron condor?

TSLT ATM IV is at 77.20% with IV rank near 5.47%, 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.

TSLT Iron Condor Strategy

TSLT (T-REX 2X Long Tesla Daily Target ETF), in the Financial Services sector, (Asset Management - Leveraged industry), listed on CBOE.

This ETF aims to provide daily returns that are double the performance of Tesla (TSLA) stock. It primarily achieves this magnified exposure by allocating at least 80% of its net assets, along with any borrowed capital, to swap agreements. These financial contracts are established with prominent global financial institutions and are designed to exchange returns, effectively targeting a daily exposure to TSLA equivalent to 200% of the fund's net asset value. The fund operates as a non-diversified portfolio.

TSLT (T-REX 2X Long Tesla Daily Target ETF) trades in the Financial Services sector, specifically Asset Management - Leveraged, with a market capitalization of approximately $118.9M, a beta of 3.60 versus the broader market, a 52-week range of 9.36-33.03, average daily share volume of 3.1M, a public-listing history dating back to 2023. These structural characteristics shape how TSLT etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 3.60 indicates TSLT has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.

What is a iron condor on TSLT?

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.

TSLT snapshot

As of August 14, 2026, spot at $12.18, ATM IV 77.20%, IV rank 5.47%, expected move 22.13%. The iron condor on TSLT 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 TSLT specifically: TSLT IV at 77.20% is on the cheap side of its 1-year range, which means a premium-selling TSLT iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 22.13% (roughly $2.70 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 TSLT expiries trade a higher absolute premium for lower per-day decay. Position sizing on TSLT should anchor to the underlying notional of $12.18 per share and to the trader's directional view on TSLT etf.

TSLT iron condor setup

The TSLT 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 TSLT at $12.18 on that close, the first option leg uses a $13.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed TSLT 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 TSLT shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$13.00	$0.85
Buy 1	Call	$13.00	$0.85
Sell 1	Put	$12.00	$1.10
Buy 1	Put	$11.00	$0.60

TSLT iron condor risk and reward

Net Premium / Debit: +$50.00
Max Profit (per contract): $50.00
Max Loss (per contract): -$50.00
Breakeven(s): $11.50
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.

TSLT iron condor payoff curve

Modeled P&L at expiration across a range of underlying prices for the iron condor on TSLT. 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
$2.70	-77.8%	-$50.00
$5.39	-55.7%	-$50.00
$8.09	-33.6%	-$50.00
$10.78	-11.5%	-$50.00
$13.47	+10.6%	+$50.00
$16.16	+32.7%	+$50.00
$18.85	+54.8%	+$50.00
$21.55	+76.9%	+$50.00
$24.24	+99.0%	+$50.00

When traders use iron condor on TSLT

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

TSLT thesis for this iron condor

The market-implied 1-standard-deviation range for TSLT extends from approximately $9.48 on the downside to $14.88 on the upside. A TSLT iron condor is a delta-neutral premium-collection structure that pays off when TSLT 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 TSLT IV rank near 5.47% 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 TSLT at 77.20%. As a Financial Services name, TSLT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to TSLT-specific events.

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

Frequently asked questions

What is a iron condor on TSLT?: A iron condor on TSLT is the iron condor strategy applied to TSLT (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 TSLT etf at $12.18 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed TSLT chain strike and the premiums come straight from that session's bid/ask midpoint.
How are TSLT 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 TSLT iron condor priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 77.20%), 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 TSLT iron condor?: The breakeven for the TSLT iron condor priced on this page is roughly $11.50 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 TSLT market-implied 1-standard-deviation expected move in the same options snapshot is approximately 22.13%; 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 TSLT?: Iron condors on TSLT are a delta-neutral premium-collection structure that profits if TSLT etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
How does current TSLT implied volatility affect this iron condor?: TSLT ATM IV is at 77.20% with IV rank near 5.47%, 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.