CLSK Iron Condor Strategy
CLSK (CleanSpark, Inc.), in the Financial Services sector, (Asset Management - Cryptocurrency industry), listed on NASDAQ.
CleanSpark, Inc. is a global enterprise specializing in cryptocurrency mining and advanced energy technologies. The company's operations are divided into two primary divisions: Digital Currency Mining and Energy Solutions. Its Digital Currency Mining segment is dedicated to the extraction of bitcoin. The Energy Solutions division offers a comprehensive suite of services, including engineering expertise, software development, bespoke hardware, and solutions for open automated demand response, solar power, and energy storage. These offerings cater to microgrids and decentralized energy systems, serving a diverse client base across military, commercial, and residential sectors. This segment also develops sophisticated platforms that facilitate the creation, deployment, operation, and management of various energy assets.
CLSK (CleanSpark, Inc.) trades in the Financial Services sector, specifically Asset Management - Cryptocurrency, with a market capitalization of approximately $3.13B, a beta of 3.89 versus the broader market, a 52-week range of 8-23.61, average daily share volume of 22.3M, a public-listing history dating back to 2016, approximately 312 full-time employees. These structural characteristics shape how CLSK stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 3.89 indicates CLSK has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. CLSK pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on CLSK?
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.
CLSK snapshot
As of August 14, 2026, spot at $12.07, ATM IV 80.07%, IV rank 23.24%, expected move 22.95%. The iron condor on CLSK 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 CLSK specifically: CLSK IV at 80.07% is on the cheap side of its 1-year range, which means a premium-selling CLSK iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 22.95% (roughly $2.77 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 CLSK expiries trade a higher absolute premium for lower per-day decay. Position sizing on CLSK should anchor to the underlying notional of $12.07 per share and to the trader's directional view on CLSK stock.
CLSK iron condor setup
The CLSK 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 CLSK at $12.07 on that close, the first option leg uses a $12.50 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CLSK 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 CLSK shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $12.50 | $0.92 |
| Buy 1 | Call | $13.50 | $0.58 |
| Sell 1 | Put | $11.50 | $0.75 |
| Buy 1 | Put | $11.00 | $0.55 |
CLSK iron condor risk and reward
- Net Premium / Debit
- +$54.00
- Max Profit (per contract)
- $54.00
- Max Loss (per contract)
- -$46.00
- Breakeven(s)
- $13.04
- Risk / Reward Ratio
- 1.174
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.
CLSK iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on CLSK. 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.
| Underlying Price | % From Spot | P&L at Expiration |
|---|---|---|
| $0.01 | -99.9% | +$4.00 |
| $2.68 | -77.8% | +$4.00 |
| $5.35 | -55.7% | +$4.00 |
| $8.01 | -33.6% | +$4.00 |
| $10.68 | -11.5% | +$4.00 |
| $13.35 | +10.6% | -$30.82 |
| $16.02 | +32.7% | -$46.00 |
| $18.68 | +54.8% | -$46.00 |
| $21.35 | +76.9% | -$46.00 |
| $24.02 | +99.0% | -$46.00 |
When traders use iron condor on CLSK
Iron condors on CLSK are a delta-neutral premium-collection structure that profits if CLSK stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
CLSK thesis for this iron condor
The market-implied 1-standard-deviation range for CLSK extends from approximately $9.30 on the downside to $14.84 on the upside. A CLSK iron condor is a delta-neutral premium-collection structure that pays off when CLSK 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 CLSK IV rank near 23.24% 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 CLSK at 80.07%. As a Financial Services name, CLSK options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CLSK-specific events.
CLSK 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. CLSK positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CLSK alongside the broader basket even when CLSK-specific fundamentals are unchanged. Short-premium structures like a iron condor on CLSK carry tail risk when realized volatility exceeds the implied move; review historical CLSK earnings reactions and macro stress periods before sizing. Always rebuild the position from current CLSK chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on CLSK?
- A iron condor on CLSK is the iron condor strategy applied to CLSK (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 CLSK stock at $12.07 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed CLSK chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are CLSK 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 CLSK iron condor priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 80.07%), the computed maximum profit is $54.00 per contract and the computed maximum loss is -$46.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a CLSK iron condor?
- The breakeven for the CLSK iron condor priced on this page is roughly $13.04 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 CLSK market-implied 1-standard-deviation expected move in the same options snapshot is approximately 22.95%; 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 CLSK?
- Iron condors on CLSK are a delta-neutral premium-collection structure that profits if CLSK stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current CLSK implied volatility affect this iron condor?
- CLSK ATM IV is at 80.07% with IV rank near 23.24%, 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.