AAMI Iron Condor Strategy
AAMI (Acadian Asset Management), in the Financial Services sector, (Asset Management industry), listed on NYSE.
Acadian Asset Management, Inc. is a holding company, which engages in the provision of asset management services. It operates through the Quant and Solutions segment. The Quant and Solutions segment involves leveraging data and technology in a computational, factor-based investment process across a range of asset classes and geographies, including Global, non-U.S., emerging markets, and managed volatility equities, as well as multi-asset products. The company was founded in 1980 and is headquartered in Boston, MA.
AAMI (Acadian Asset Management) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $2.50B, a trailing P/E of 29.77, a beta of 1.33 versus the broader market, a 52-week range of 28.98-73.1, average daily share volume of 311K, a public-listing history dating back to 2014, approximately 383 full-time employees. These structural characteristics shape how AAMI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.33 indicates AAMI has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. AAMI pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on AAMI?
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 AAMI snapshot
As of May 15, 2026, spot at $68.63, ATM IV 35.40%, IV rank 14.26%, expected move 10.15%. The iron condor on AAMI 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 34-day expiry.
Why this iron condor structure on AAMI specifically: AAMI IV at 35.40% is on the cheap side of its 1-year range, which means a premium-selling AAMI iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 10.15% (roughly $6.97 on the underlying). The 34-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated AAMI expiries trade a higher absolute premium for lower per-day decay. Position sizing on AAMI should anchor to the underlying notional of $68.63 per share and to the trader's directional view on AAMI stock.
AAMI iron condor setup
The AAMI 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 AAMI near $68.63, the first option leg uses a $72.06 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AAMI chain at a 34-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 AAMI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $72.06 | N/A |
| Buy 1 | Call | $75.49 | N/A |
| Sell 1 | Put | $65.20 | N/A |
| Buy 1 | Put | $61.77 | N/A |
AAMI 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.
AAMI iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on AAMI. 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 AAMI
Iron condors on AAMI are a delta-neutral premium-collection structure that profits if AAMI stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
AAMI thesis for this iron condor
The market-implied 1-standard-deviation range for AAMI extends from approximately $61.66 on the downside to $75.60 on the upside. A AAMI iron condor is a delta-neutral premium-collection structure that pays off when AAMI 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 AAMI IV rank near 14.26% 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 AAMI at 35.40%. As a Financial Services name, AAMI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AAMI-specific events.
AAMI 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. AAMI positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move AAMI alongside the broader basket even when AAMI-specific fundamentals are unchanged. Short-premium structures like a iron condor on AAMI carry tail risk when realized volatility exceeds the implied move; review historical AAMI earnings reactions and macro stress periods before sizing. Always rebuild the position from current AAMI chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on AAMI?
- A iron condor on AAMI is the iron condor strategy applied to AAMI (stock). 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 AAMI stock trading near $68.63, the strikes shown on this page are snapped to the nearest listed AAMI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are AAMI 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 AAMI iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 35.40%), 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 AAMI iron condor?
- The breakeven for the AAMI iron condor priced on this page is no defined breakeven on the modeled curve 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 AAMI market-implied 1-standard-deviation expected move is approximately 10.15%; 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 AAMI?
- Iron condors on AAMI are a delta-neutral premium-collection structure that profits if AAMI stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current AAMI implied volatility affect this iron condor?
- AAMI ATM IV is at 35.40% with IV rank near 14.26%, 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.