AEVA Iron Condor Strategy
AEVA (Aeva Technologies, Inc.), in the Consumer Cyclical sector, (Auto - Parts industry), listed on NASDAQ.
Aeva Technologies, Inc. specializes in cutting-edge sensing technology, producing a compact 4D LiDAR-on-chip. The company leverages its unique frequency modulated continuous wave (FMCW) method to create these devices, which are designed to facilitate the widespread adoption of LiDAR across numerous industries. Its applications span a broad spectrum, including autonomous vehicles, various consumer electronic products, health monitoring devices, industrial automation systems, and security applications. Founded in 2017, Aeva maintains its headquarters in Mountain View, California.
AEVA (Aeva Technologies, Inc.) trades in the Consumer Cyclical sector, specifically Auto - Parts, with a market capitalization of approximately $1.32B, a beta of 2.41 versus the broader market, a 52-week range of 8.83-38.8, average daily share volume of 2.1M, a public-listing history dating back to 2020, approximately 276 full-time employees. These structural characteristics shape how AEVA stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.41 indicates AEVA 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 AEVA?
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 AEVA snapshot
As of June 30, 2026, spot at $28.35, ATM IV 123.70%, IV rank 31.08%, expected move 35.46%. The iron condor on AEVA 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 17-day expiry.
Why this iron condor structure on AEVA specifically: AEVA IV at 123.70% is mid-range versus its 1-year history, so the credit collected on a AEVA iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 35.46% (roughly $10.05 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated AEVA expiries trade a higher absolute premium for lower per-day decay. Position sizing on AEVA should anchor to the underlying notional of $28.35 per share and to the trader's directional view on AEVA stock.
AEVA iron condor setup
The AEVA 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 AEVA near $28.35, the first option leg uses a $29.77 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AEVA chain at a 17-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 AEVA shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $29.77 | N/A |
| Buy 1 | Call | $31.19 | N/A |
| Sell 1 | Put | $26.93 | N/A |
| Buy 1 | Put | $25.52 | N/A |
AEVA 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.
AEVA iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on AEVA. 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 AEVA
Iron condors on AEVA are a delta-neutral premium-collection structure that profits if AEVA stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
AEVA thesis for this iron condor
The market-implied 1-standard-deviation range for AEVA extends from approximately $18.30 on the downside to $38.40 on the upside. A AEVA iron condor is a delta-neutral premium-collection structure that pays off when AEVA 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 AEVA IV rank near 31.08% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on AEVA should anchor more to the directional view and the expected-move geometry. As a Consumer Cyclical name, AEVA options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AEVA-specific events.
AEVA 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. AEVA positions also carry Consumer Cyclical sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move AEVA alongside the broader basket even when AEVA-specific fundamentals are unchanged. Short-premium structures like a iron condor on AEVA carry tail risk when realized volatility exceeds the implied move; review historical AEVA earnings reactions and macro stress periods before sizing. Always rebuild the position from current AEVA chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on AEVA?
- A iron condor on AEVA is the iron condor strategy applied to AEVA (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 AEVA stock trading near $28.35, the strikes shown on this page are snapped to the nearest listed AEVA chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are AEVA 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 AEVA iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 123.70%), 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 AEVA iron condor?
- The breakeven for the AEVA 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 AEVA market-implied 1-standard-deviation expected move is approximately 35.46%; 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 AEVA?
- Iron condors on AEVA are a delta-neutral premium-collection structure that profits if AEVA stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current AEVA implied volatility affect this iron condor?
- AEVA ATM IV is at 123.70% with IV rank near 31.08%, 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.