YOLO Iron Condor Strategy
YOLO (AdvisorShares Pure Cannabis ETF), in the Financial Services sector, (Asset Management industry), listed on AMEX.
YOLO offers investors a unique pathway to the significant long-term growth prospects of the burgeoning cannabis industry. As the inaugural actively managed ETF in the U.S. dedicated exclusively to cannabis, it possesses distinct advantages. Its agile portfolio management allows for swift adjustments, a crucial capability in a dynamic marketplace that frequently experiences shifts in tradable equities and the introduction of new companies. The fund is overseen by a team with extensive capital markets experience and proven expertise in navigating highly regulated investment landscapes, including cannabis. Unlike many other cannabis-related ETFs that simply track a market-cap-weighted index, YOLO employs a disciplined, selective, and risk-managed investment strategy.
YOLO (AdvisorShares Pure Cannabis ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $27.7M, a beta of 0.87 versus the broader market, a 52-week range of 2.39-4.526, average daily share volume of 36K, a public-listing history dating back to 2019. These structural characteristics shape how YOLO etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.87 places YOLO roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. YOLO pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on YOLO?
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.
YOLO snapshot
As of August 14, 2026, spot at $2.81, ATM IV 106.60%, IV rank 19.46%, expected move 30.56%. The iron condor on YOLO below is built from the 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 YOLO specifically: YOLO IV at 106.60% is on the cheap side of its 1-year range, which means a premium-selling YOLO iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 30.56% (roughly $0.86 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 YOLO expiries trade a higher absolute premium for lower per-day decay. Position sizing on YOLO should anchor to the underlying notional of $2.81 per share and to the trader's directional view on YOLO etf.
YOLO iron condor setup
The YOLO 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 YOLO at $2.81 on that close, the first option leg uses a $2.95 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed YOLO 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 YOLO shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $2.95 | N/A |
| Buy 1 | Call | $3.09 | N/A |
| Sell 1 | Put | $2.67 | N/A |
| Buy 1 | Put | $2.53 | N/A |
YOLO iron condor risk and reward
- Net Premium / Debit
- N/A
- Max Profit (per contract)
- Unbounded
- Max Loss (per contract)
- Unbounded
- 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.
YOLO iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on YOLO. 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.
When traders use iron condor on YOLO
Iron condors on YOLO are a delta-neutral premium-collection structure that profits if YOLO etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
YOLO thesis for this iron condor
The market-implied 1-standard-deviation range for YOLO extends from approximately $1.95 on the downside to $3.67 on the upside. A YOLO iron condor is a delta-neutral premium-collection structure that pays off when YOLO 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 YOLO IV rank near 19.46% 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 YOLO at 106.60%. As a Financial Services name, YOLO options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to YOLO-specific events.
YOLO 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. YOLO positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move YOLO alongside the broader basket even when YOLO-specific fundamentals are unchanged. Short-premium structures like a iron condor on YOLO carry tail risk when realized volatility exceeds the implied move; review historical YOLO earnings reactions and macro stress periods before sizing. Always rebuild the position from current YOLO chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on YOLO?
- A iron condor on YOLO is the iron condor strategy applied to YOLO (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 YOLO etf at $2.81 on the most recent close, the strikes shown on this page are snapped to the nearest listed YOLO chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are YOLO 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 YOLO iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 106.60%), the computed maximum profit is unbounded per contract and the computed maximum loss is unbounded per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a YOLO iron condor?
- The breakeven for the YOLO iron condor priced on this page is no defined breakeven on the modeled curve at expiration, derived from the 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 YOLO market-implied 1-standard-deviation expected move in the same options snapshot is approximately 30.56%; 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 YOLO?
- Iron condors on YOLO are a delta-neutral premium-collection structure that profits if YOLO etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current YOLO implied volatility affect this iron condor?
- YOLO ATM IV is at 106.60% with IV rank near 19.46%, 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.