How are DOCU 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 DOCU iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 47.35%), the computed maximum profit is $143.00 per contract and the computed maximum loss is -$157.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a DOCU iron condor?

The breakeven for the DOCU iron condor priced on this page is roughly $41.57 and $48.43 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 DOCU market-implied 1-standard-deviation expected move is approximately 13.58%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current DOCU implied volatility affect this iron condor?

DOCU ATM IV is at 47.35% with IV rank near 37.33%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.

DOCU Iron Condor Strategy

DOCU (DocuSign, Inc.), in the Technology sector, (Software - Application industry), listed on NASDAQ.

DocuSign, Inc. is a global provider of electronic signature software, operating both within the United States and internationally. The company's core offering is an e-signature solution that empowers businesses to digitally prepare, execute, finalize, and manage various agreements. Beyond its foundational e-signature service, DocuSign offers an extensive suite of tools for digital agreement management. This includes Contract Lifecycle Management (CLM) to streamline agreement workflows, and Insights, which leverages artificial intelligence to analyze agreements based on legal concepts and clauses. For Salesforce users, there's Gen, enabling sales teams to quickly generate agreements, and Negotiate, providing functionalities like approvals, document comparisons, and version control. Customers can also utilize Analyzer to comprehend documents before signing, and the advanced CLM+ for AI-driven contract lifecycle management.

DOCU (DocuSign, Inc.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $8.63B, a trailing P/E of 28.04, a beta of 0.88 versus the broader market, a 52-week range of 40.16-86.65, average daily share volume of 3.9M, a public-listing history dating back to 2018, approximately 7K full-time employees. These structural characteristics shape how DOCU stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.88 places DOCU roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.

What is a iron condor on DOCU?

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 DOCU snapshot

As of June 29, 2026, spot at $44.95, ATM IV 47.35%, IV rank 37.33%, expected move 13.58%. The iron condor on DOCU 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 DOCU specifically: DOCU IV at 47.35% is mid-range versus its 1-year history, so the credit collected on a DOCU iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 13.58% (roughly $6.10 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 DOCU expiries trade a higher absolute premium for lower per-day decay. Position sizing on DOCU should anchor to the underlying notional of $44.95 per share and to the trader's directional view on DOCU stock.

DOCU iron condor setup

The DOCU 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 DOCU near $44.95, the first option leg uses a $47.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed DOCU 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 DOCU shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$47.00	$1.69
Buy 1	Call	$49.00	$0.98
Sell 1	Put	$43.00	$1.56
Buy 1	Put	$40.00	$0.84

DOCU iron condor risk and reward

Net Premium / Debit: +$143.00
Max Profit (per contract): $143.00
Max Loss (per contract): -$157.00
Breakeven(s): $41.57, $48.43
Risk / Reward Ratio: 0.911

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.

DOCU iron condor payoff curve

Modeled P&L at expiration across a range of underlying prices for the iron condor on DOCU. 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%	-$157.00
$9.95	-77.9%	-$157.00
$19.89	-55.8%	-$157.00
$29.82	-33.7%	-$157.00
$39.76	-11.5%	-$157.00
$49.70	+10.6%	-$57.00
$59.64	+32.7%	-$57.00
$69.57	+54.8%	-$57.00
$79.51	+76.9%	-$57.00
$89.45	+99.0%	-$57.00

When traders use iron condor on DOCU

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

DOCU thesis for this iron condor

The market-implied 1-standard-deviation range for DOCU extends from approximately $38.85 on the downside to $51.05 on the upside. A DOCU iron condor is a delta-neutral premium-collection structure that pays off when DOCU 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 DOCU IV rank near 37.33% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on DOCU should anchor more to the directional view and the expected-move geometry. As a Technology name, DOCU options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to DOCU-specific events.

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

Frequently asked questions

What is a iron condor on DOCU?: A iron condor on DOCU is the iron condor strategy applied to DOCU (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 DOCU stock trading near $44.95, the strikes shown on this page are snapped to the nearest listed DOCU chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are DOCU 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 DOCU iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 47.35%), the computed maximum profit is $143.00 per contract and the computed maximum loss is -$157.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a DOCU iron condor?: The breakeven for the DOCU iron condor priced on this page is roughly $41.57 and $48.43 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 DOCU market-implied 1-standard-deviation expected move is approximately 13.58%; 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 DOCU?: Iron condors on DOCU are a delta-neutral premium-collection structure that profits if DOCU stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
How does current DOCU implied volatility affect this iron condor?: DOCU ATM IV is at 47.35% with IV rank near 37.33%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.