AIP Iron Condor Strategy
AIP (Arteris, Inc.), in the Technology sector, (Semiconductors industry), listed on NASDAQ.
Arteris, Inc., together with its subsidiaries, provides semiconductor system intellectual property (IP) solutions in the United States, rest of the Americas, China, Korea, the rest of the Asia Pacific, Europe, and the Middle East. It manages on-chip communications and IP block deployments in System-on-Chip (SoC) semiconductors and systems of chiplets. The company offers Network-on-Chip (NoC) IP Products, such as FlexGen, FlexNoC, and FlexWay, a non-coherent NoC IP; Ncore, a cache-coherent NoC IP; and CodaCache, a last-level cache. It also provides hardware security verification software products, such as Cycuity Radix-S to detect and remediate security issues in IP blocks and subsystems of an SoC; Cycuity Radix-M for hardware security verification emulation for system-level SoC and firmware; and Cycuity Radix-ST, a static security analyzer that identifies potential design weaknesses early in the development lifecycle, as well as SoC integration automation software solutions products, including Magillem Connectivity and Registers, and CSRCompiler. In addition, the company offers professional services, such as training, design assistance, and consulting; licensing services for software and intellectual properties; IP support and maintenance; and on-site support services. It serves the automotive, communications, enterprise computing, consumer electronics, and industrial markets.
AIP (Arteris, Inc.) trades in the Technology sector, specifically Semiconductors, with a market capitalization of approximately $2.00B, a beta of 1.99 versus the broader market, a 52-week range of 8.42-45.3, average daily share volume of 948K, a public-listing history dating back to 2021, approximately 299 full-time employees. These structural characteristics shape how AIP stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.99 indicates AIP 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 AIP?
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 AIP snapshot
As of June 30, 2026, spot at $49.41, ATM IV 98.00%, IV rank 39.55%, expected move 28.10%. The iron condor on AIP 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 AIP specifically: AIP IV at 98.00% is mid-range versus its 1-year history, so the credit collected on a AIP iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 28.10% (roughly $13.88 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 AIP expiries trade a higher absolute premium for lower per-day decay. Position sizing on AIP should anchor to the underlying notional of $49.41 per share and to the trader's directional view on AIP stock.
AIP iron condor setup
The AIP 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 AIP near $49.41, the first option leg uses a $51.88 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AIP 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 AIP shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $51.88 | N/A |
| Buy 1 | Call | $54.35 | N/A |
| Sell 1 | Put | $46.94 | N/A |
| Buy 1 | Put | $44.47 | N/A |
AIP 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.
AIP iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on AIP. 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 AIP
Iron condors on AIP are a delta-neutral premium-collection structure that profits if AIP stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
AIP thesis for this iron condor
The market-implied 1-standard-deviation range for AIP extends from approximately $35.53 on the downside to $63.29 on the upside. A AIP iron condor is a delta-neutral premium-collection structure that pays off when AIP 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 AIP IV rank near 39.55% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on AIP should anchor more to the directional view and the expected-move geometry. As a Technology name, AIP options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AIP-specific events.
AIP 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. AIP positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move AIP alongside the broader basket even when AIP-specific fundamentals are unchanged. Short-premium structures like a iron condor on AIP carry tail risk when realized volatility exceeds the implied move; review historical AIP earnings reactions and macro stress periods before sizing. Always rebuild the position from current AIP chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on AIP?
- A iron condor on AIP is the iron condor strategy applied to AIP (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 AIP stock trading near $49.41, the strikes shown on this page are snapped to the nearest listed AIP chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are AIP 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 AIP iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 98.00%), 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 AIP iron condor?
- The breakeven for the AIP 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 AIP market-implied 1-standard-deviation expected move is approximately 28.10%; 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 AIP?
- Iron condors on AIP are a delta-neutral premium-collection structure that profits if AIP stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current AIP implied volatility affect this iron condor?
- AIP ATM IV is at 98.00% with IV rank near 39.55%, 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.