FJET Iron Condor Strategy
FJET (Starfighters Space Inc), in the Industrials sector, (Aerospace & Defense industry), listed on AMEX.
Starfighters Space, Inc. engages in the operation of a commercial fleet of flight-ready F-104 supersonic aircraft, Lockheed F-104 for the United States Armed Forces. It also offers pilot and astronaut training and in-flight testing related services and offers solutions for defense, civil, academic and commercial industries in the private and public sectors. The company also offers launch services and Access to Space services for commercial, academic, civil and government clients; and provides airborne testbed for hypersonic research and development, and test and evaluation services. The company was incorporated in 2022 and is based in Cape Canaveral, Florida.
FJET (Starfighters Space Inc) trades in the Industrials sector, specifically Aerospace & Defense, with a market capitalization of approximately $140.3M, a beta of -0.43 versus the broader market, a 52-week range of 4.5101-28.74, average daily share volume of 9.4M, a public-listing history dating back to 2025. These structural characteristics shape how FJET stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of -0.43 indicates FJET has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure.
What is a iron condor on FJET?
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 FJET snapshot
As of May 15, 2026, spot at $5.49, ATM IV 184.80%, expected move 52.98%. The iron condor on FJET 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 FJET specifically: IV rank is unavailable in the current snapshot, so regime-based timing for FJET is inferred from ATM IV at 184.80% alone, with a market-implied 1-standard-deviation move of approximately 52.98% (roughly $2.91 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 FJET expiries trade a higher absolute premium for lower per-day decay. Position sizing on FJET should anchor to the underlying notional of $5.49 per share and to the trader's directional view on FJET stock.
FJET iron condor setup
The FJET 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 FJET near $5.49, the first option leg uses a $5.76 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed FJET 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 FJET shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $5.76 | N/A |
| Buy 1 | Call | $6.04 | N/A |
| Sell 1 | Put | $5.22 | N/A |
| Buy 1 | Put | $4.94 | N/A |
FJET 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.
FJET iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on FJET. 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 FJET
Iron condors on FJET are a delta-neutral premium-collection structure that profits if FJET stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
FJET thesis for this iron condor
The market-implied 1-standard-deviation range for FJET extends from approximately $2.58 on the downside to $8.40 on the upside. A FJET iron condor is a delta-neutral premium-collection structure that pays off when FJET 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 Industrials name, FJET options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to FJET-specific events.
FJET 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. FJET positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move FJET alongside the broader basket even when FJET-specific fundamentals are unchanged. Short-premium structures like a iron condor on FJET carry tail risk when realized volatility exceeds the implied move; review historical FJET earnings reactions and macro stress periods before sizing. Always rebuild the position from current FJET chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on FJET?
- A iron condor on FJET is the iron condor strategy applied to FJET (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 FJET stock trading near $5.49, the strikes shown on this page are snapped to the nearest listed FJET chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are FJET 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 FJET iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 184.80%), 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 FJET iron condor?
- The breakeven for the FJET 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 FJET market-implied 1-standard-deviation expected move is approximately 52.98%; 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 FJET?
- Iron condors on FJET are a delta-neutral premium-collection structure that profits if FJET stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current FJET implied volatility affect this iron condor?
- Current FJET ATM IV is 184.80%; IV rank context is unavailable in the current snapshot.