How are ASTS 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 ASTS iron condor priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 78.13%), the computed maximum profit is $242.00 per contract and the computed maximum loss is -$158.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a ASTS iron condor?

The breakeven for the ASTS iron condor priced on this page is roughly $64.58 and $76.42 at expiration, derived from the August 14, 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 ASTS market-implied 1-standard-deviation expected move in the same options snapshot is approximately 22.40%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current ASTS implied volatility affect this iron condor?

ASTS ATM IV is at 78.13% with IV rank near 8.98%, which is on the low end of its 1-year range. Premium-buying structures (long call, long put, debit spreads) are relatively cheap in this regime; premium-selling structures collect less credit per unit risk.

ASTS Iron Condor Strategy

ASTS (AST SpaceMobile, Inc.), in the Communication Services sector, (Telecommunications Services industry), listed on NASDAQ.

AST SpaceMobile, Inc. establishes and operates a satellite-based cellular broadband network designed to connect directly with standard mobile phones. Through its SpaceMobile service, it delivers mobile internet access to individuals in remote or unserved locations that lack traditional terrestrial mobile coverage, whether on land, across oceans, or during air travel. The company is situated in Midland, Texas.

ASTS (AST SpaceMobile, Inc.) trades in the Communication Services sector, specifically Telecommunications Services, with a market capitalization of approximately $30.24B, a beta of 2.75 versus the broader market, a 52-week range of 36.08-133.86, average daily share volume of 20.3M, a public-listing history dating back to 2019, approximately 1K full-time employees. These structural characteristics shape how ASTS stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 2.75 indicates ASTS 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 ASTS?

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.

ASTS snapshot

As of August 14, 2026, spot at $70.73, ATM IV 78.13%, IV rank 8.98%, expected move 22.40%. The iron condor on ASTS below is built from the August 14, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 28-day expiry.

Why this iron condor structure on ASTS specifically: ASTS IV at 78.13% is on the cheap side of its 1-year range, which means a premium-selling ASTS iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 22.40% (roughly $15.84 on the underlying). The 28-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated ASTS expiries trade a higher absolute premium for lower per-day decay. Position sizing on ASTS should anchor to the underlying notional of $70.73 per share and to the trader's directional view on ASTS stock.

ASTS iron condor setup

The ASTS iron condor below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With ASTS at $70.73 on that close, the first option leg uses a $74.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ASTS chain at a 28-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 ASTS shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$74.00	$4.85
Buy 1	Call	$78.00	$3.63
Sell 1	Put	$67.00	$4.13
Buy 1	Put	$64.00	$2.93

ASTS iron condor risk and reward

Net Premium / Debit: +$242.00
Max Profit (per contract): $242.00
Max Loss (per contract): -$158.00
Breakeven(s): $64.58, $76.42
Risk / Reward Ratio: 1.532

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.

ASTS iron condor payoff curve

Modeled P&L at expiration across a range of underlying prices for the iron condor on ASTS. 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%	-$58.00
$15.65	-77.9%	-$58.00
$31.29	-55.8%	-$58.00
$46.92	-33.7%	-$58.00
$62.56	-11.5%	-$58.00
$78.20	+10.6%	-$158.00
$93.84	+32.7%	-$158.00
$109.47	+54.8%	-$158.00
$125.11	+76.9%	-$158.00
$140.75	+99.0%	-$158.00

When traders use iron condor on ASTS

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

ASTS thesis for this iron condor

The market-implied 1-standard-deviation range for ASTS extends from approximately $54.89 on the downside to $86.57 on the upside. A ASTS iron condor is a delta-neutral premium-collection structure that pays off when ASTS 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 ASTS IV rank near 8.98% sits in the lower third of its 1-year distribution, where IV often re-expands toward the mean; this favors premium-buying structures and disadvantages premium-selling structures on ASTS at 78.13%. As a Communication Services name, ASTS options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ASTS-specific events.

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

Frequently asked questions

What is a iron condor on ASTS?: A iron condor on ASTS is the iron condor strategy applied to ASTS (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 ASTS stock at $70.73 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed ASTS chain strike and the premiums come straight from that session's bid/ask midpoint.
How are ASTS 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 ASTS iron condor priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 78.13%), the computed maximum profit is $242.00 per contract and the computed maximum loss is -$158.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a ASTS iron condor?: The breakeven for the ASTS iron condor priced on this page is roughly $64.58 and $76.42 at expiration, derived from the August 14, 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 ASTS market-implied 1-standard-deviation expected move in the same options snapshot is approximately 22.40%; 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 ASTS?: Iron condors on ASTS are a delta-neutral premium-collection structure that profits if ASTS stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
How does current ASTS implied volatility affect this iron condor?: ASTS ATM IV is at 78.13% with IV rank near 8.98%, which is on the low end of its 1-year range. Premium-buying structures (long call, long put, debit spreads) are relatively cheap in this regime; premium-selling structures collect less credit per unit risk.