ADSK Iron Condor Strategy
ADSK (Autodesk, Inc.), in the Technology sector, (Software - Application industry), listed on NASDAQ.
Autodesk, Inc. provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; AutoCAD, a software for professional design, drafting, detailing, and visualization; AutoCAD LT, a drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; Fusion 360, a 3D CAD, CAM, and computer-aided engineering tool; and Industry Collections tools for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment collection industries. It also provides Inventor tools for 3D mechanical design, simulation, analysis, tooling, visualization, and documentation; Vault, a data management software to manage data in one central location, accelerate design processes, and streamline internal/external collaboration; Maya and 3ds Max software products that offer 3D modeling, animation, effects, rendering, and compositing solutions; and ShotGrid, a cloud-based software for review and production tracking in the media and entertainment industry. It sells its products and services to customers directly, as well as through a network of resellers and distributors. Autodesk, Inc. was incorporated in 1982 and is headquartered in San Rafael, California.
ADSK (Autodesk, Inc.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $48.78B, a trailing P/E of 43.58, a beta of 1.32 versus the broader market, a 52-week range of 214.1-329.09, average daily share volume of 2.1M, a public-listing history dating back to 1985, approximately 15K full-time employees. These structural characteristics shape how ADSK stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.32 indicates ADSK has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. The trailing P/E of 43.58 is on the rich side, which tends to correlate with higher earnings-window IV expansion as the market debates whether forward growth supports the multiple.
What is a iron condor on ADSK?
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 ADSK snapshot
As of May 15, 2026, spot at $236.18, ATM IV 57.94%, IV rank 99.78%, expected move 16.61%. The iron condor on ADSK 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 28-day expiry.
Why this iron condor structure on ADSK specifically: ADSK IV at 57.94% is rich versus its 1-year range, which favors premium-selling structures like a ADSK iron condor, with a market-implied 1-standard-deviation move of approximately 16.61% (roughly $39.23 on the underlying). The 28-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated ADSK expiries trade a higher absolute premium for lower per-day decay. Position sizing on ADSK should anchor to the underlying notional of $236.18 per share and to the trader's directional view on ADSK stock.
ADSK iron condor setup
The ADSK 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 ADSK near $236.18, the first option leg uses a $250.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ADSK chain at a 28-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 ADSK shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $250.00 | $11.00 |
| Buy 1 | Call | $260.00 | $6.45 |
| Sell 1 | Put | $225.00 | $11.35 |
| Buy 1 | Put | $215.00 | $5.85 |
ADSK iron condor risk and reward
- Net Premium / Debit
- +$1,005.00
- Max Profit (per contract)
- $1,005.00
- Max Loss (per contract)
- $5.00
- Breakeven(s)
- None on modeled curve
- Risk / Reward Ratio
- 201.000
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.
ADSK iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on ADSK. 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.
| Underlying Price | % From Spot | P&L at Expiration |
|---|---|---|
| $0.01 | -100.0% | +$5.00 |
| $52.23 | -77.9% | +$5.00 |
| $104.45 | -55.8% | +$5.00 |
| $156.67 | -33.7% | +$5.00 |
| $208.89 | -11.6% | +$5.00 |
| $261.11 | +10.6% | +$5.00 |
| $313.33 | +32.7% | +$5.00 |
| $365.55 | +54.8% | +$5.00 |
| $417.77 | +76.9% | +$5.00 |
| $469.99 | +99.0% | +$5.00 |
When traders use iron condor on ADSK
Iron condors on ADSK are a delta-neutral premium-collection structure that profits if ADSK stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
ADSK thesis for this iron condor
The market-implied 1-standard-deviation range for ADSK extends from approximately $196.95 on the downside to $275.41 on the upside. A ADSK iron condor is a delta-neutral premium-collection structure that pays off when ADSK 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 ADSK IV rank near 99.78% sits in the upper third of its 1-year distribution, which historically reverts; this raises the bar for premium-buying structures and lowers it for premium-selling structures on ADSK at 57.94%. As a Technology name, ADSK options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ADSK-specific events.
ADSK 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. ADSK positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ADSK alongside the broader basket even when ADSK-specific fundamentals are unchanged. Short-premium structures like a iron condor on ADSK carry tail risk when realized volatility exceeds the implied move; review historical ADSK earnings reactions and macro stress periods before sizing. Always rebuild the position from current ADSK chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on ADSK?
- A iron condor on ADSK is the iron condor strategy applied to ADSK (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 ADSK stock trading near $236.18, the strikes shown on this page are snapped to the nearest listed ADSK chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are ADSK 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 ADSK iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 57.94%), the computed maximum profit is $1,005.00 per contract and the computed maximum loss is $5.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a ADSK iron condor?
- The breakeven for the ADSK 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 ADSK market-implied 1-standard-deviation expected move is approximately 16.61%; 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 ADSK?
- Iron condors on ADSK are a delta-neutral premium-collection structure that profits if ADSK stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current ADSK implied volatility affect this iron condor?
- ADSK ATM IV is at 57.94% with IV rank near 99.78%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.