How are ECG 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 ECG iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 54.70%), the computed maximum profit is $462.50 per contract and the computed maximum loss is -$537.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a ECG iron condor?

The breakeven for the ECG iron condor priced on this page is roughly $145.38 and $169.83 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 ECG market-implied 1-standard-deviation expected move is approximately 15.68%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current ECG implied volatility affect this iron condor?

ECG ATM IV is at 54.70% with IV rank near 11.31%, 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.

ECG Iron Condor Strategy

ECG (Everus Construction Group, Inc.), in the Industrials sector, (Engineering & Construction industry), listed on NYSE.

Everus Construction Group, Inc. provides utility construction services. It offers electrical line construction, pipeline construction, inside electrical wiring and cabling, and mechanical services. The company also involves in the manufacture and distribution of specialty equipment, and electrical control panel; and installation and maintenance of automatic fire sprinkler systems in Las Vegas and Reno. The company was incorporated in 1995 and is based in Bismarck, North Dakota.

ECG (Everus Construction Group, Inc.) trades in the Industrials sector, specifically Engineering & Construction, with a market capitalization of approximately $8.21B, a trailing P/E of 36.76, a beta of 2.63 versus the broader market, a 52-week range of 55.31-171.577, average daily share volume of 655K, a public-listing history dating back to 2024, approximately 9K full-time employees. These structural characteristics shape how ECG stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 2.63 indicates ECG has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. The trailing P/E of 36.76 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 ECG?

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 ECG snapshot

As of May 15, 2026, spot at $156.19, ATM IV 54.70%, IV rank 11.31%, expected move 15.68%. The iron condor on ECG 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 34-day expiry.

Why this iron condor structure on ECG specifically: ECG IV at 54.70% is on the cheap side of its 1-year range, which means a premium-selling ECG iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 15.68% (roughly $24.49 on the underlying). The 34-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated ECG expiries trade a higher absolute premium for lower per-day decay. Position sizing on ECG should anchor to the underlying notional of $156.19 per share and to the trader's directional view on ECG stock.

ECG iron condor setup

The ECG 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 ECG near $156.19, the first option leg uses a $165.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ECG chain at a 34-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 ECG shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$165.00	$7.15
Buy 1	Call	$170.00	$5.30
Sell 1	Put	$150.00	$7.20
Buy 1	Put	$140.00	$4.43

ECG iron condor risk and reward

Net Premium / Debit: +$462.50
Max Profit (per contract): $462.50
Max Loss (per contract): -$537.50
Breakeven(s): $145.38, $169.83
Risk / Reward Ratio: 0.860

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.

ECG iron condor payoff curve

Modeled P&L at expiration across a range of underlying prices for the iron condor on ECG. 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	-100.0%	-$537.50
$34.54	-77.9%	-$537.50
$69.08	-55.8%	-$537.50
$103.61	-33.7%	-$537.50
$138.14	-11.6%	-$537.50
$172.68	+10.6%	-$37.50
$207.21	+32.7%	-$37.50
$241.74	+54.8%	-$37.50
$276.28	+76.9%	-$37.50
$310.81	+99.0%	-$37.50

When traders use iron condor on ECG

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

ECG thesis for this iron condor

The market-implied 1-standard-deviation range for ECG extends from approximately $131.70 on the downside to $180.68 on the upside. A ECG iron condor is a delta-neutral premium-collection structure that pays off when ECG 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 ECG IV rank near 11.31% 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 ECG at 54.70%. As a Industrials name, ECG options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ECG-specific events.

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

Frequently asked questions

What is a iron condor on ECG?: A iron condor on ECG is the iron condor strategy applied to ECG (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 ECG stock trading near $156.19, the strikes shown on this page are snapped to the nearest listed ECG chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are ECG 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 ECG iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 54.70%), the computed maximum profit is $462.50 per contract and the computed maximum loss is -$537.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a ECG iron condor?: The breakeven for the ECG iron condor priced on this page is roughly $145.38 and $169.83 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 ECG market-implied 1-standard-deviation expected move is approximately 15.68%; 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 ECG?: Iron condors on ECG are a delta-neutral premium-collection structure that profits if ECG stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
How does current ECG implied volatility affect this iron condor?: ECG ATM IV is at 54.70% with IV rank near 11.31%, 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.