AIRG Iron Condor Strategy
AIRG (Airgain, Inc.), in the Technology sector, (Communication Equipment industry), listed on NASDAQ.
Airgain, Inc. is dedicated to designing, developing, and engineering advanced antenna solutions. These products are supplied globally to a wide array of partners, including original equipment and design manufacturers, specialized vertical markets, chipset vendors, service providers, value-added resellers, and software developers. The company's extensive product portfolio features a variety of embedded antenna lines, such as the MaxBeam, Profile, Profile Contour, Ultra, and SmartMax series, in addition to MaxBeam carrier class antennas. Furthermore, under the "Antenna Plus" brand, Airgain offers specialized antennas tailored for automotive, fleet management, public safety, and machine-to-machine (M2M) applications. Central to their offerings are embedded antenna technologies, which are crucial for enabling high-performance wireless networking across diverse devices and key sectors like consumer electronics, enterprise solutions, and the automotive industry. Established in 1995 as the AM Group, the company officially adopted the name Airgain, Inc. in 2004.
AIRG (Airgain, Inc.) trades in the Technology sector, specifically Communication Equipment, with a market capitalization of approximately $79.0M, a beta of 0.89 versus the broader market, a 52-week range of 3-7.658, average daily share volume of 104K, a public-listing history dating back to 2016, approximately 121 full-time employees. These structural characteristics shape how AIRG stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.89 places AIRG roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.
What is a iron condor on AIRG?
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 AIRG snapshot
As of June 29, 2026, spot at $6.24, ATM IV 123.70%, IV rank 31.19%, expected move 35.46%. The iron condor on AIRG 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 18-day expiry.
Why this iron condor structure on AIRG specifically: AIRG IV at 123.70% is mid-range versus its 1-year history, so the credit collected on a AIRG iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 35.46% (roughly $2.21 on the underlying). The 18-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated AIRG expiries trade a higher absolute premium for lower per-day decay. Position sizing on AIRG should anchor to the underlying notional of $6.24 per share and to the trader's directional view on AIRG stock.
AIRG iron condor setup
The AIRG 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 AIRG near $6.24, the first option leg uses a $6.55 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AIRG chain at a 18-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 AIRG shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $6.55 | N/A |
| Buy 1 | Call | $6.86 | N/A |
| Sell 1 | Put | $5.93 | N/A |
| Buy 1 | Put | $5.62 | N/A |
AIRG 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.
AIRG iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on AIRG. 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 AIRG
Iron condors on AIRG are a delta-neutral premium-collection structure that profits if AIRG stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
AIRG thesis for this iron condor
The market-implied 1-standard-deviation range for AIRG extends from approximately $4.03 on the downside to $8.45 on the upside. A AIRG iron condor is a delta-neutral premium-collection structure that pays off when AIRG 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 AIRG IV rank near 31.19% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on AIRG should anchor more to the directional view and the expected-move geometry. As a Technology name, AIRG options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AIRG-specific events.
AIRG 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. AIRG positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move AIRG alongside the broader basket even when AIRG-specific fundamentals are unchanged. Short-premium structures like a iron condor on AIRG carry tail risk when realized volatility exceeds the implied move; review historical AIRG earnings reactions and macro stress periods before sizing. Always rebuild the position from current AIRG chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on AIRG?
- A iron condor on AIRG is the iron condor strategy applied to AIRG (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 AIRG stock trading near $6.24, the strikes shown on this page are snapped to the nearest listed AIRG chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are AIRG 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 AIRG 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 AIRG iron condor?
- The breakeven for the AIRG 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 AIRG 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 AIRG?
- Iron condors on AIRG are a delta-neutral premium-collection structure that profits if AIRG stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current AIRG implied volatility affect this iron condor?
- AIRG ATM IV is at 123.70% with IV rank near 31.19%, 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.