How are ETHB 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 ETHB iron condor priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 495.50%), the computed maximum profit is $82.00 per contract and the computed maximum loss is -$118.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a ETHB iron condor?

The breakeven for the ETHB iron condor priced on this page is roughly $22.18 and $25.82 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 ETHB market-implied 1-standard-deviation expected move in the same options snapshot is approximately 142.06%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current ETHB implied volatility affect this iron condor?

Current ETHB ATM IV is 495.50%; IV rank context is unavailable in the current snapshot.

ETHB Iron Condor Strategy

ETHB (iShares Staked Ethereum Trust ETF), in the Financial Services sector, (Asset Management - Cryptocurrency industry), listed on NASDAQ.

The iShares Staked Ethereum Trust ETF is designed to mirror the price performance of Ether (ETH). Furthermore, it aims to generate returns by actively staking a portion of the Trust's Ethereum holdings. It is important to note that this Trust is not registered as an investment company under the Investment Company Act of 1940, meaning it is not subject to the same regulatory requirements as traditional mutual funds or ETFs governed by that Act. Additionally, it does not qualify as a commodity pool under the Commodity Exchange Act. Potential investors should carefully review the risk factors and all other pertinent information detailed in the prospectus before making any investment decision.

ETHB (iShares Staked Ethereum Trust ETF) trades in the Financial Services sector, specifically Asset Management - Cryptocurrency, with a market capitalization of approximately $92.1M, a beta of 2.54 versus the broader market, a 52-week range of 19.65-31.72, average daily share volume of 395K, a public-listing history dating back to 2026. These structural characteristics shape how ETHB stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 2.54 indicates ETHB has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. ETHB pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a iron condor on ETHB?

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.

ETHB snapshot

As of August 14, 2026, spot at $24.16, ATM IV 495.50%, expected move 142.06%. The iron condor on ETHB 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 35-day expiry.

Why this iron condor structure on ETHB specifically: IV rank is unavailable in the current snapshot, so regime-based timing for ETHB is inferred from ATM IV at 495.50% alone, with a market-implied 1-standard-deviation move of approximately 142.06% (roughly $34.32 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 ETHB expiries trade a higher absolute premium for lower per-day decay. Position sizing on ETHB should anchor to the underlying notional of $24.16 per share and to the trader's directional view on ETHB stock.

ETHB iron condor setup

The ETHB 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 ETHB at $24.16 on that close, the first option leg uses a $25.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ETHB 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 ETHB shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$25.00	$0.88
Buy 1	Call	$27.00	$0.37
Sell 1	Put	$23.00	$0.82
Buy 1	Put	$22.00	$0.51

ETHB iron condor risk and reward

Net Premium / Debit: +$82.00
Max Profit (per contract): $82.00
Max Loss (per contract): -$118.00
Breakeven(s): $22.18, $25.82
Risk / Reward Ratio: 0.695

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.

ETHB iron condor payoff curve

Modeled P&L at expiration across a range of underlying prices for the iron condor on ETHB. 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%	-$18.00
$5.35	-77.9%	-$18.00
$10.69	-55.7%	-$18.00
$16.03	-33.6%	-$18.00
$21.37	-11.5%	-$18.00
$26.71	+10.6%	-$89.40
$32.05	+32.7%	-$118.00
$37.40	+54.8%	-$118.00
$42.74	+76.9%	-$118.00
$48.08	+99.0%	-$118.00

When traders use iron condor on ETHB

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

ETHB thesis for this iron condor

The market-implied 1-standard-deviation range for ETHB extends from approximately $-10.16 on the downside to $58.48 on the upside. A ETHB iron condor is a delta-neutral premium-collection structure that pays off when ETHB 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. As a Financial Services name, ETHB options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ETHB-specific events.

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

Frequently asked questions

What is a iron condor on ETHB?: A iron condor on ETHB is the iron condor strategy applied to ETHB (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 ETHB stock at $24.16 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed ETHB chain strike and the premiums come straight from that session's bid/ask midpoint.
How are ETHB 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 ETHB iron condor priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 495.50%), the computed maximum profit is $82.00 per contract and the computed maximum loss is -$118.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a ETHB iron condor?: The breakeven for the ETHB iron condor priced on this page is roughly $22.18 and $25.82 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 ETHB market-implied 1-standard-deviation expected move in the same options snapshot is approximately 142.06%; 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 ETHB?: Iron condors on ETHB are a delta-neutral premium-collection structure that profits if ETHB stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
How does current ETHB implied volatility affect this iron condor?: Current ETHB ATM IV is 495.50%; IV rank context is unavailable in the current snapshot.