EVR Iron Condor Strategy
EVR (Evercore Inc.), in the Financial Services sector, (Financial - Capital Markets industry), listed on NYSE.
Evercore Inc., together with its subsidiaries, operates as an independent investment banking advisory firm in the United States, Europe, Latin America, and internationally. It operates through two segments, Investment Banking and Investment Management. The Investment Banking segment offers strategic advisory services, such as mergers and acquisitions, strategic, defense, and shareholder advisory, special committee assignments, and transaction structuring; Capital Markets Advisory, including equity capital markets, restructuring, debt advisory, private placement advisory, market risk management and hedging, private capital advisory, and private funds; and research, sales, and trading professionals services on a content-led platform to its institutional investor clients. The Investment Management segment provides wealth management services to high-net-worth individuals, foundations, and endowments; and manages financial assets for institutional investors. The company was formerly known as Evercore Partners Inc. and changed its name to Evercore Inc. in August 2017. Evercore Inc. was founded in 1995 and is headquartered in New York, New York.
EVR (Evercore Inc.) trades in the Financial Services sector, specifically Financial - Capital Markets, with a market capitalization of approximately $13.32B, a trailing P/E of 17.55, a beta of 1.49 versus the broader market, a 52-week range of 217.19-388.71, average daily share volume of 651K, a public-listing history dating back to 2006, approximately 2K full-time employees. These structural characteristics shape how EVR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.49 indicates EVR has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. EVR pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on EVR?
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 EVR snapshot
As of May 15, 2026, spot at $335.03, ATM IV 37.80%, IV rank 39.45%, expected move 10.84%. The iron condor on EVR 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 EVR specifically: EVR IV at 37.80% is mid-range versus its 1-year history, so the credit collected on a EVR iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 10.84% (roughly $36.31 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 EVR expiries trade a higher absolute premium for lower per-day decay. Position sizing on EVR should anchor to the underlying notional of $335.03 per share and to the trader's directional view on EVR stock.
EVR iron condor setup
The EVR 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 EVR near $335.03, the first option leg uses a $350.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed EVR 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 EVR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $350.00 | $9.40 |
| Buy 1 | Call | $370.00 | $4.20 |
| Sell 1 | Put | $320.00 | $9.75 |
| Buy 1 | Put | $300.00 | $4.70 |
EVR iron condor risk and reward
- Net Premium / Debit
- +$1,025.00
- Max Profit (per contract)
- $1,025.00
- Max Loss (per contract)
- -$975.00
- Breakeven(s)
- $309.75, $360.25
- Risk / Reward Ratio
- 1.051
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.
EVR iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on EVR. 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% | -$975.00 |
| $74.09 | -77.9% | -$975.00 |
| $148.16 | -55.8% | -$975.00 |
| $222.24 | -33.7% | -$975.00 |
| $296.31 | -11.6% | -$975.00 |
| $370.39 | +10.6% | -$975.00 |
| $444.47 | +32.7% | -$975.00 |
| $518.54 | +54.8% | -$975.00 |
| $592.62 | +76.9% | -$975.00 |
| $666.69 | +99.0% | -$975.00 |
When traders use iron condor on EVR
Iron condors on EVR are a delta-neutral premium-collection structure that profits if EVR stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
EVR thesis for this iron condor
The market-implied 1-standard-deviation range for EVR extends from approximately $298.72 on the downside to $371.34 on the upside. A EVR iron condor is a delta-neutral premium-collection structure that pays off when EVR 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 EVR IV rank near 39.45% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on EVR should anchor more to the directional view and the expected-move geometry. As a Financial Services name, EVR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to EVR-specific events.
EVR 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. EVR positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move EVR alongside the broader basket even when EVR-specific fundamentals are unchanged. Short-premium structures like a iron condor on EVR carry tail risk when realized volatility exceeds the implied move; review historical EVR earnings reactions and macro stress periods before sizing. Always rebuild the position from current EVR chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on EVR?
- A iron condor on EVR is the iron condor strategy applied to EVR (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 EVR stock trading near $335.03, the strikes shown on this page are snapped to the nearest listed EVR chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are EVR 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 EVR iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 37.80%), the computed maximum profit is $1,025.00 per contract and the computed maximum loss is -$975.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a EVR iron condor?
- The breakeven for the EVR iron condor priced on this page is roughly $309.75 and $360.25 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 EVR market-implied 1-standard-deviation expected move is approximately 10.84%; 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 EVR?
- Iron condors on EVR are a delta-neutral premium-collection structure that profits if EVR stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current EVR implied volatility affect this iron condor?
- EVR ATM IV is at 37.80% with IV rank near 39.45%, 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.