DHX Iron Condor Strategy
DHX (DHI Group, Inc.), in the Industrials sector, (Staffing & Employment Services industry), listed on NYSE.
DHI Group, Inc. provides data, insights, and employment connections through specialized services for technology professionals and other select online communities in the United States. The company operates through the Clearancejobs and Dice segments. Its solutions include talent profiles; job postings; employer branding; and other services, such as virtual and live career events, sourcing services, and content and data services that provide tailored content to help professionals manage their careers and provide employers insight into recruiting strategies and trends. The company also operates ClearanceJobs, an online career community, which connects security-cleared professionals with employers in a secure and private environment to fill the jobs that safeguard its nation; and Dice that offers job postings of technology and non-technology companies for industries, such as positions for software engineers, big data professionals, systems administrators, database specialists, project managers, and various other technology and engineering professionals. It serves small, mid-sized, and large direct employers; staffing companies; recruiting agencies; staffing and consulting firms; and marketing departments of companies, as well as direct hiring companies. The company offers its products and services through its direct sales force and agency partner channel.
DHX (DHI Group, Inc.) trades in the Industrials sector, specifically Staffing & Employment Services, with a market capitalization of approximately $165.0M, a trailing P/E of 128.08, a beta of 1.24 versus the broader market, a 52-week range of 1.44-4.45, average daily share volume of 219K, a public-listing history dating back to 2007, approximately 270 full-time employees. These structural characteristics shape how DHX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.24 places DHX roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 128.08 is on the rich side, which tends to correlate with higher earnings-window IV expansion as the market debates whether forward growth supports the multiple.
What is a iron condor on DHX?
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.
DHX snapshot
As of August 14, 2026, spot at $3.98, ATM IV 97.90%, IV rank 17.12%, expected move 28.07%. The iron condor on DHX 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 DHX specifically: DHX IV at 97.90% is on the cheap side of its 1-year range, which means a premium-selling DHX iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 28.07% (roughly $1.12 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 DHX expiries trade a higher absolute premium for lower per-day decay. Position sizing on DHX should anchor to the underlying notional of $3.98 per share and to the trader's directional view on DHX stock.
DHX iron condor setup
The DHX 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 DHX at $3.98 on that close, the first option leg uses a $4.18 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed DHX 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 DHX shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $4.18 | N/A |
| Buy 1 | Call | $4.38 | N/A |
| Sell 1 | Put | $3.78 | N/A |
| Buy 1 | Put | $3.58 | N/A |
DHX 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.
DHX iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on DHX. 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 DHX
Iron condors on DHX are a delta-neutral premium-collection structure that profits if DHX stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
DHX thesis for this iron condor
The market-implied 1-standard-deviation range for DHX extends from approximately $2.86 on the downside to $5.10 on the upside. A DHX iron condor is a delta-neutral premium-collection structure that pays off when DHX 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 DHX IV rank near 17.12% 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 DHX at 97.90%. As a Industrials name, DHX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to DHX-specific events.
DHX 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. DHX positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move DHX alongside the broader basket even when DHX-specific fundamentals are unchanged. Short-premium structures like a iron condor on DHX carry tail risk when realized volatility exceeds the implied move; review historical DHX earnings reactions and macro stress periods before sizing. Always rebuild the position from current DHX chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on DHX?
- A iron condor on DHX is the iron condor strategy applied to DHX (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 DHX stock at $3.98 on the most recent close, the strikes shown on this page are snapped to the nearest listed DHX chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are DHX 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 DHX iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 97.90%), 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 DHX iron condor?
- The breakeven for the DHX 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 DHX market-implied 1-standard-deviation expected move in the same options snapshot is approximately 28.07%; 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 DHX?
- Iron condors on DHX are a delta-neutral premium-collection structure that profits if DHX stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current DHX implied volatility affect this iron condor?
- DHX ATM IV is at 97.90% with IV rank near 17.12%, 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.