AUB Iron Condor Strategy
AUB (Atlantic Union Bankshares Corporation), in the Financial Services sector, (Banks - Regional industry), listed on NYSE.
Atlantic Union Bankshares Corporation (AUB) serves as the parent entity for Atlantic Union Bank, through which it delivers a comprehensive suite of banking and financial solutions to both individual consumers and corporate clients. Its offerings encompass a broad array of deposit options, including checking, savings, NOW, time deposit, and money market accounts, alongside certificates of deposit (CDs) and other associated depository services. Furthermore, the company extends credit through various loan products, covering commercial, industrial, residential mortgage, and consumer financing needs. Complementing these core services, it also issues credit cards and facilitates convenient access through automated teller machines (ATMs), mobile and online banking platforms, and digital bill payment functionalities. Additionally, clients can access specialized services such as financial planning, trust administration, and wealth management. The corporation further diversifies its portfolio by offering securities, brokerage, and investment advisory products.
AUB (Atlantic Union Bankshares Corporation) trades in the Financial Services sector, specifically Banks - Regional, with a market capitalization of approximately $6.02B, a trailing P/E of 12.35, a beta of 0.77 versus the broader market, a 52-week range of 30.87-43.62, average daily share volume of 1.1M, a public-listing history dating back to 1993, approximately 3K full-time employees. These structural characteristics shape how AUB stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.77 places AUB roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. AUB pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on AUB?
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.
AUB snapshot
As of August 14, 2026, spot at $42.94, ATM IV 42.20%, IV rank 17.84%, expected move 12.10%. The iron condor on AUB below is built from the end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.
Why this iron condor structure on AUB specifically: AUB IV at 42.20% is on the cheap side of its 1-year range, which means a premium-selling AUB iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 12.10% (roughly $5.20 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated AUB expiries trade a higher absolute premium for lower per-day decay. Position sizing on AUB should anchor to the underlying notional of $42.94 per share and to the trader's directional view on AUB stock.
AUB iron condor setup
The AUB 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 AUB at $42.94 on that close, the first option leg uses a $45.09 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AUB chain at a 35-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 AUB shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $45.09 | N/A |
| Buy 1 | Call | $47.23 | N/A |
| Sell 1 | Put | $40.79 | N/A |
| Buy 1 | Put | $38.65 | N/A |
AUB 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.
AUB iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on AUB. 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 AUB
Iron condors on AUB are a delta-neutral premium-collection structure that profits if AUB stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
AUB thesis for this iron condor
The market-implied 1-standard-deviation range for AUB extends from approximately $37.74 on the downside to $48.14 on the upside. A AUB iron condor is a delta-neutral premium-collection structure that pays off when AUB 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 AUB IV rank near 17.84% 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 AUB at 42.20%. As a Financial Services name, AUB options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AUB-specific events.
AUB 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. AUB positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move AUB alongside the broader basket even when AUB-specific fundamentals are unchanged. Short-premium structures like a iron condor on AUB carry tail risk when realized volatility exceeds the implied move; review historical AUB earnings reactions and macro stress periods before sizing. Always rebuild the position from current AUB chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on AUB?
- A iron condor on AUB is the iron condor strategy applied to AUB (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 AUB stock at $42.94 on the most recent close, the strikes shown on this page are snapped to the nearest listed AUB chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are AUB 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 AUB iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 42.20%), 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 AUB iron condor?
- The breakeven for the AUB iron condor priced on this page is no defined breakeven on the modeled curve at expiration, derived from the 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 AUB market-implied 1-standard-deviation expected move in the same options snapshot is approximately 12.10%; 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 AUB?
- Iron condors on AUB are a delta-neutral premium-collection structure that profits if AUB stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current AUB implied volatility affect this iron condor?
- AUB ATM IV is at 42.20% with IV rank near 17.84%, 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.