AGI Iron Condor Strategy
AGI (Alamos Gold Inc.), in the Basic Materials sector, (Gold industry), listed on NYSE.
Alamos gold holding oorperatief u.a. operates as a subsidiary of Alamos Gold Inc.
AGI (Alamos Gold Inc.) trades in the Basic Materials sector, specifically Gold, with a market capitalization of approximately $18.33B, a trailing P/E of 17.24, a beta of 1.29 versus the broader market, a 52-week range of 23.79-55.41, average daily share volume of 3.7M, a public-listing history dating back to 2003, approximately 2K full-time employees. These structural characteristics shape how AGI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.29 places AGI roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. AGI pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on AGI?
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 AGI snapshot
As of May 15, 2026, spot at $40.39, ATM IV 51.90%, IV rank 65.13%, expected move 14.88%. The iron condor on AGI 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 AGI specifically: AGI IV at 51.90% is mid-range versus its 1-year history, so the credit collected on a AGI iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 14.88% (roughly $6.01 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 AGI expiries trade a higher absolute premium for lower per-day decay. Position sizing on AGI should anchor to the underlying notional of $40.39 per share and to the trader's directional view on AGI stock.
AGI iron condor setup
The AGI 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 AGI near $40.39, the first option leg uses a $42.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AGI 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 AGI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $42.00 | $1.98 |
| Buy 1 | Call | $44.00 | $1.33 |
| Sell 1 | Put | $38.00 | $1.43 |
| Buy 1 | Put | $36.00 | $0.73 |
AGI iron condor risk and reward
- Net Premium / Debit
- +$135.00
- Max Profit (per contract)
- $135.00
- Max Loss (per contract)
- -$65.00
- Breakeven(s)
- $36.65, $43.35
- Risk / Reward Ratio
- 2.077
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.
AGI iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on AGI. 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% | -$65.00 |
| $8.94 | -77.9% | -$65.00 |
| $17.87 | -55.8% | -$65.00 |
| $26.80 | -33.7% | -$65.00 |
| $35.73 | -11.5% | -$65.00 |
| $44.66 | +10.6% | -$65.00 |
| $53.59 | +32.7% | -$65.00 |
| $62.52 | +54.8% | -$65.00 |
| $71.44 | +76.9% | -$65.00 |
| $80.37 | +99.0% | -$65.00 |
When traders use iron condor on AGI
Iron condors on AGI are a delta-neutral premium-collection structure that profits if AGI stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
AGI thesis for this iron condor
The market-implied 1-standard-deviation range for AGI extends from approximately $34.38 on the downside to $46.40 on the upside. A AGI iron condor is a delta-neutral premium-collection structure that pays off when AGI 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 AGI IV rank near 65.13% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on AGI should anchor more to the directional view and the expected-move geometry. As a Basic Materials name, AGI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AGI-specific events.
AGI 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. AGI positions also carry Basic Materials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move AGI alongside the broader basket even when AGI-specific fundamentals are unchanged. Short-premium structures like a iron condor on AGI carry tail risk when realized volatility exceeds the implied move; review historical AGI earnings reactions and macro stress periods before sizing. Always rebuild the position from current AGI chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on AGI?
- A iron condor on AGI is the iron condor strategy applied to AGI (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 AGI stock trading near $40.39, the strikes shown on this page are snapped to the nearest listed AGI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are AGI 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 AGI iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 51.90%), the computed maximum profit is $135.00 per contract and the computed maximum loss is -$65.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a AGI iron condor?
- The breakeven for the AGI iron condor priced on this page is roughly $36.65 and $43.35 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 AGI market-implied 1-standard-deviation expected move is approximately 14.88%; 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 AGI?
- Iron condors on AGI are a delta-neutral premium-collection structure that profits if AGI stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current AGI implied volatility affect this iron condor?
- AGI ATM IV is at 51.90% with IV rank near 65.13%, 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.