DOX Iron Condor Strategy
DOX (Amdocs Limited), in the Technology sector, (Software - Infrastructure industry), listed on NASDAQ.
Amdocs Limited is a global provider of software solutions and associated services, operating through its various subsidiaries worldwide. The company is actively involved in the full lifecycle of its cloud-based portfolio, from designing and developing to operating, implementing, supporting, and marketing these open and modular offerings. Its diverse product lineup includes CES21, a leading customer experience suite built on 5G and cloud-native microservices architecture, which empowers service providers to develop, deliver, and monetize advanced services. Amdocs also offers a Commerce and Care suite for streamlining order processing and customer engagement, and a Monetization suite that handles charging, billing, policy enforcement, and overall revenue management. Further offerings include an Intelligent Networking suite, providing modular, flexible, and open service lifecycle management capabilities for network automation; MarketONE, a cloud-native business ecosystem; the Digital Brands Suite, a pre-integrated digital business platform tailored for emerging digital telecom brands and smaller service providers; and the eSIM Cloud for service providers. Beyond these core products, Amdocs furnishes AI-powered, cloud-native home operating systems, various data intelligence solutions, and applications.
DOX (Amdocs Limited) trades in the Technology sector, specifically Software - Infrastructure, with a market capitalization of approximately $5.59B, a trailing P/E of 10.18, a beta of 0.39 versus the broader market, a 52-week range of 49.8-93.44, average daily share volume of 1.2M, a public-listing history dating back to 1998, approximately 29K full-time employees. These structural characteristics shape how DOX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.39 indicates DOX has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. The trailing P/E of 10.18 is on the value side, where IV often compresses outside event windows because forward growth expectations are already discounted into the share price. DOX pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on DOX?
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 DOX snapshot
As of June 30, 2026, spot at $50.83, ATM IV 36.50%, IV rank 12.38%, expected move 10.46%. The iron condor on DOX 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 17-day expiry.
Why this iron condor structure on DOX specifically: DOX IV at 36.50% is on the cheap side of its 1-year range, which means a premium-selling DOX iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 10.46% (roughly $5.32 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated DOX expiries trade a higher absolute premium for lower per-day decay. Position sizing on DOX should anchor to the underlying notional of $50.83 per share and to the trader's directional view on DOX stock.
DOX iron condor setup
The DOX 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 DOX near $50.83, the first option leg uses a $53.37 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed DOX chain at a 17-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 DOX shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $53.37 | N/A |
| Buy 1 | Call | $55.91 | N/A |
| Sell 1 | Put | $48.29 | N/A |
| Buy 1 | Put | $45.75 | N/A |
DOX 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.
DOX iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on DOX. 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 DOX
Iron condors on DOX are a delta-neutral premium-collection structure that profits if DOX stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
DOX thesis for this iron condor
The market-implied 1-standard-deviation range for DOX extends from approximately $45.51 on the downside to $56.15 on the upside. A DOX iron condor is a delta-neutral premium-collection structure that pays off when DOX 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 DOX IV rank near 12.38% 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 DOX at 36.50%. As a Technology name, DOX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to DOX-specific events.
DOX 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. DOX positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move DOX alongside the broader basket even when DOX-specific fundamentals are unchanged. Short-premium structures like a iron condor on DOX carry tail risk when realized volatility exceeds the implied move; review historical DOX earnings reactions and macro stress periods before sizing. Always rebuild the position from current DOX chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on DOX?
- A iron condor on DOX is the iron condor strategy applied to DOX (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 DOX stock trading near $50.83, the strikes shown on this page are snapped to the nearest listed DOX chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are DOX 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 DOX iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 36.50%), 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 DOX iron condor?
- The breakeven for the DOX iron condor priced on this page is no defined breakeven on the modeled curve 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 DOX market-implied 1-standard-deviation expected move is approximately 10.46%; 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 DOX?
- Iron condors on DOX are a delta-neutral premium-collection structure that profits if DOX stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current DOX implied volatility affect this iron condor?
- DOX ATM IV is at 36.50% with IV rank near 12.38%, 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.