How are BSX 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 BSX iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 45.76%), the computed maximum profit is $120.00 per contract and the computed maximum loss is -$80.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a BSX iron condor?

The breakeven for the BSX iron condor priced on this page is roughly $39.80 and $47.20 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 BSX market-implied 1-standard-deviation expected move is approximately 13.12%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current BSX implied volatility affect this iron condor?

BSX ATM IV is at 45.76% with IV rank near 82.03%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.

BSX Iron Condor Strategy

BSX (Boston Scientific Corporation), in the Healthcare sector, (Medical - Devices industry), listed on NYSE.

Boston Scientific Corporation (BSX) operates as a global leader in medical technology, specializing in the design, manufacturing, and commercialization of innovative medical devices tailored for a diverse array of interventional medical specialties across the globe. Its business is strategically organized into three principal segments: MedSurg, Rhythm and Neuro, and Cardiovascular. Within these divisions, the company provides a comprehensive portfolio of solutions addressing various gastrointestinal and pulmonary ailments, as well as urological and pelvic health concerns. This extends to advanced implantable devices for managing cardiac rhythm disorders, such as cardioverter-defibrillators, cardiac resynchronization therapy devices, and pacemakers, complemented by remote patient management systems. Furthermore, Boston Scientific offers sophisticated technologies for diagnosing and treating complex heart rate and rhythm irregularities. These encompass 3-D cardiac mapping and navigation tools, along with a suite of specialized catheters (including ablation, diagnostic, mapping, and intracardiac ultrasound types), delivery sheaths, and related accessories.

BSX (Boston Scientific Corporation) trades in the Healthcare sector, specifically Medical - Devices, with a market capitalization of approximately $65.74B, a trailing P/E of 18.49, a beta of 0.56 versus the broader market, a 52-week range of 43.89-109.5, average daily share volume of 20.4M, a public-listing history dating back to 1992, approximately 53K full-time employees. These structural characteristics shape how BSX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.56 indicates BSX 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 BSX?

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 BSX snapshot

As of June 29, 2026, spot at $43.66, ATM IV 45.76%, IV rank 82.03%, expected move 13.12%. The iron condor on BSX 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 32-day expiry.

Why this iron condor structure on BSX specifically: BSX IV at 45.76% is rich versus its 1-year range, which favors premium-selling structures like a BSX iron condor, with a market-implied 1-standard-deviation move of approximately 13.12% (roughly $5.73 on the underlying). The 32-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated BSX expiries trade a higher absolute premium for lower per-day decay. Position sizing on BSX should anchor to the underlying notional of $43.66 per share and to the trader's directional view on BSX stock.

BSX iron condor setup

The BSX 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 BSX near $43.66, the first option leg uses a $46.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed BSX chain at a 32-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 BSX shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$46.00	$2.15
Buy 1	Call	$48.00	$1.05
Sell 1	Put	$41.00	$0.83
Buy 1	Put	$39.00	$0.73

BSX iron condor risk and reward

Net Premium / Debit: +$120.00
Max Profit (per contract): $120.00
Max Loss (per contract): -$80.00
Breakeven(s): $39.80, $47.20
Risk / Reward Ratio: 1.500

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.

BSX iron condor payoff curve

Modeled P&L at expiration across a range of underlying prices for the iron condor on BSX. 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%	-$80.00
$9.66	-77.9%	-$80.00
$19.31	-55.8%	-$80.00
$28.97	-33.7%	-$80.00
$38.62	-11.5%	-$80.00
$48.27	+10.6%	-$80.00
$57.92	+32.7%	-$80.00
$67.58	+54.8%	-$80.00
$77.23	+76.9%	-$80.00
$86.88	+99.0%	-$80.00

When traders use iron condor on BSX

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

BSX thesis for this iron condor

The market-implied 1-standard-deviation range for BSX extends from approximately $37.93 on the downside to $49.39 on the upside. A BSX iron condor is a delta-neutral premium-collection structure that pays off when BSX 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 BSX IV rank near 82.03% sits in the upper third of its 1-year distribution, which historically reverts; this raises the bar for premium-buying structures and lowers it for premium-selling structures on BSX at 45.76%. As a Healthcare name, BSX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to BSX-specific events.

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

Frequently asked questions

What is a iron condor on BSX?: A iron condor on BSX is the iron condor strategy applied to BSX (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 BSX stock trading near $43.66, the strikes shown on this page are snapped to the nearest listed BSX chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are BSX 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 BSX iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 45.76%), the computed maximum profit is $120.00 per contract and the computed maximum loss is -$80.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a BSX iron condor?: The breakeven for the BSX iron condor priced on this page is roughly $39.80 and $47.20 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 BSX market-implied 1-standard-deviation expected move is approximately 13.12%; 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 BSX?: Iron condors on BSX are a delta-neutral premium-collection structure that profits if BSX stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
How does current BSX implied volatility affect this iron condor?: BSX ATM IV is at 45.76% with IV rank near 82.03%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.