How are AMTM 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 AMTM iron condor priced from the November 13, 2026 end-of-day chain at a 30-day expiry (ATM IV 57.40%), the computed maximum profit is $100.00 per contract and the computed maximum loss is -$150.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a AMTM iron condor?

The breakeven for the AMTM iron condor priced on this page is roughly $23.50 at expiration, derived from the November 13, 2026 end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The AMTM market-implied 1-standard-deviation expected move in the same options snapshot is approximately 16.46%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current AMTM implied volatility affect this iron condor?

AMTM ATM IV is at 57.40% with IV rank near 31.06%, 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.

AMTM Iron Condor Strategy

AMTM (Amentum Holdings, Inc.), in the Industrials sector, (Aerospace & Defense industry), listed on NYSE.

Amentum Holdings, Inc. is a provider of critical, technology-driven services, serving both governmental and commercial sectors. Its operations are structured around two distinct segments: Critical Mission Solutions and Cyber & Intelligence. The Critical Mission Solutions (CMS) segment delivers comprehensive support across various domains. This includes testing, training, and operational oversight for advanced missile defense systems. It also furnishes IT and engineering expertise to both defense organizations and the burgeoning space sector. Moreover, CMS offers technological solutions to energy clients, encompassing installation, decommissioning, and vital environmental remediation efforts, in addition to specialized technical consulting services.

AMTM (Amentum Holdings, Inc.) trades in the Industrials sector, specifically Aerospace & Defense, with a market capitalization of approximately $5.37B, a trailing P/E of 26.25, a beta of 0.31 versus the broader market, a 52-week range of 17.72-38.11, average daily share volume of 2.0M, a public-listing history dating back to 2024, approximately 50K full-time employees. These structural characteristics shape how AMTM stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.31 indicates AMTM has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure.

What is a iron condor on AMTM?

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.

AMTM snapshot

As of November 13, 2026, spot at $21.92, ATM IV 57.40%, IV rank 31.06%, expected move 16.46%. The iron condor on AMTM below is built from the November 13, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 399-day expiry.

Why this iron condor structure on AMTM specifically: AMTM IV at 57.40% is mid-range versus its 1-year history, so the credit collected on a AMTM iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 16.46% (roughly $3.61 on the underlying). The 399-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated AMTM expiries trade a higher absolute premium for lower per-day decay. Position sizing on AMTM should anchor to the underlying notional of $21.92 per share and to the trader's directional view on AMTM stock.

AMTM iron condor setup

The AMTM iron condor below is built from the November 13, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With AMTM at $21.92 on that close, the first option leg uses a $22.50 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AMTM chain at a 399-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 AMTM shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$22.50	$4.65
Buy 1	Call	$25.00	$3.65
Sell 1	Put	$20.00	$2.90
Buy 1	Put	$20.00	$2.90

AMTM iron condor risk and reward

Net Premium / Debit: +$100.00
Max Profit (per contract): $100.00
Max Loss (per contract): -$150.00
Breakeven(s): $23.50
Risk / Reward Ratio: 0.667

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.

AMTM iron condor payoff curve

Modeled P&L at expiration across a range of underlying prices for the iron condor on AMTM. 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.

P&L at expiration across the modeled underlying-price range. Green shading marks profitable regions, red shading marks loss regions. Dotted purple verticals mark breakevens; the solid dark vertical marks current spot.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-100.0%	+$100.00
$4.86	-77.8%	+$100.00
$9.70	-55.7%	+$100.00
$14.55	-33.6%	+$100.00
$19.39	-11.5%	+$100.00
$24.24	+10.6%	-$73.76
$29.08	+32.7%	-$150.00
$33.93	+54.8%	-$150.00
$38.77	+76.9%	-$150.00
$43.62	+99.0%	-$150.00

When traders use iron condor on AMTM

Iron condors on AMTM are a delta-neutral premium-collection structure that profits if AMTM stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.

AMTM thesis for this iron condor

The market-implied 1-standard-deviation range for AMTM extends from approximately $18.31 on the downside to $25.53 on the upside. A AMTM iron condor is a delta-neutral premium-collection structure that pays off when AMTM 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 AMTM IV rank near 31.06% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on AMTM should anchor more to the directional view and the expected-move geometry. As a Industrials name, AMTM options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AMTM-specific events.

AMTM 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. AMTM positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move AMTM alongside the broader basket even when AMTM-specific fundamentals are unchanged. Short-premium structures like a iron condor on AMTM carry tail risk when realized volatility exceeds the implied move; review historical AMTM earnings reactions and macro stress periods before sizing. Always rebuild the position from current AMTM chain quotes before placing a trade.

Frequently asked questions

What is a iron condor on AMTM?: A iron condor on AMTM is the iron condor strategy applied to AMTM (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 AMTM stock at $21.92 on the November 13, 2026 close, the strikes shown on this page are snapped to the nearest listed AMTM chain strike and the premiums come straight from that session's bid/ask midpoint.
How are AMTM 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 AMTM iron condor priced from the November 13, 2026 end-of-day chain at a 30-day expiry (ATM IV 57.40%), the computed maximum profit is $100.00 per contract and the computed maximum loss is -$150.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a AMTM iron condor?: The breakeven for the AMTM iron condor priced on this page is roughly $23.50 at expiration, derived from the November 13, 2026 end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The AMTM market-implied 1-standard-deviation expected move in the same options snapshot is approximately 16.46%; 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 AMTM?: Iron condors on AMTM are a delta-neutral premium-collection structure that profits if AMTM stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
How does current AMTM implied volatility affect this iron condor?: AMTM ATM IV is at 57.40% with IV rank near 31.06%, 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.