How are YINN 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 YINN iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 73.20%), the computed maximum profit is $115.00 per contract and the computed maximum loss is -$85.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a YINN iron condor?

The breakeven for the YINN iron condor priced on this page is roughly $19.85 and $23.65 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 YINN market-implied 1-standard-deviation expected move is approximately 20.99%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current YINN implied volatility affect this iron condor?

YINN ATM IV is at 73.20% with IV rank near 53.48%, 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.

YINN Iron Condor Strategy

YINN (Direxion Daily FTSE China Bull 3X Shares), in the Financial Services sector, (Asset Management industry), listed on AMEX.

Direxion Shares ETF Trust - Direxion Daily FTSE China Bull 3X ETF is an exchange traded fund launched by Direxion Investments. It is managed by Rafferty Asset Management, LLC. The fund invests in public equity markets of China. The fund invests directly, through derivatives and through other funds in stocks of companies operating across diversified sectors. The fund uses derivatives such as futures, swaps to create its portfolio. The fund invests in growth and value stocks of large-cap companies.

YINN (Direxion Daily FTSE China Bull 3X Shares) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $682.9M, a beta of 0.94 versus the broader market, a 52-week range of 20.69-57.71, average daily share volume of 2.3M, a public-listing history dating back to 2009. These structural characteristics shape how YINN etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.94 places YINN roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. YINN pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a iron condor on YINN?

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 YINN snapshot

As of June 30, 2026, spot at $21.59, ATM IV 73.20%, IV rank 53.48%, expected move 20.99%. The iron condor on YINN 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 31-day expiry.

Why this iron condor structure on YINN specifically: YINN IV at 73.20% is mid-range versus its 1-year history, so the credit collected on a YINN iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 20.99% (roughly $4.53 on the underlying). The 31-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated YINN expiries trade a higher absolute premium for lower per-day decay. Position sizing on YINN should anchor to the underlying notional of $21.59 per share and to the trader's directional view on YINN etf.

YINN iron condor setup

The YINN 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 YINN near $21.59, the first option leg uses a $22.50 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed YINN chain at a 31-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 YINN shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$22.50	$1.43
Buy 1	Call	$24.00	$0.98
Sell 1	Put	$21.00	$1.50
Buy 1	Put	$19.00	$0.81

YINN iron condor risk and reward

Net Premium / Debit: +$115.00
Max Profit (per contract): $115.00
Max Loss (per contract): -$85.00
Breakeven(s): $19.85, $23.65
Risk / Reward Ratio: 1.353

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.

YINN iron condor payoff curve

Modeled P&L at expiration across a range of underlying prices for the iron condor on YINN. 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	-100.0%	-$85.00
$4.78	-77.8%	-$85.00
$9.56	-55.7%	-$85.00
$14.33	-33.6%	-$85.00
$19.10	-11.5%	-$74.97
$23.87	+10.6%	-$22.28
$28.65	+32.7%	-$35.00
$33.42	+54.8%	-$35.00
$38.19	+76.9%	-$35.00
$42.96	+99.0%	-$35.00

When traders use iron condor on YINN

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

YINN thesis for this iron condor

The market-implied 1-standard-deviation range for YINN extends from approximately $17.06 on the downside to $26.12 on the upside. A YINN iron condor is a delta-neutral premium-collection structure that pays off when YINN 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 YINN IV rank near 53.48% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on YINN should anchor more to the directional view and the expected-move geometry. As a Financial Services name, YINN options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to YINN-specific events.

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

Frequently asked questions

What is a iron condor on YINN?: A iron condor on YINN is the iron condor strategy applied to YINN (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 YINN etf trading near $21.59, the strikes shown on this page are snapped to the nearest listed YINN chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are YINN 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 YINN iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 73.20%), the computed maximum profit is $115.00 per contract and the computed maximum loss is -$85.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a YINN iron condor?: The breakeven for the YINN iron condor priced on this page is roughly $19.85 and $23.65 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 YINN market-implied 1-standard-deviation expected move is approximately 20.99%; 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 YINN?: Iron condors on YINN are a delta-neutral premium-collection structure that profits if YINN etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
How does current YINN implied volatility affect this iron condor?: YINN ATM IV is at 73.20% with IV rank near 53.48%, 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.