GILT Iron Condor Strategy
GILT (Gilat Satellite Networks Ltd.), in the Technology sector, (Communication Equipment industry), listed on NASDAQ.
Gilat Satellite Networks Ltd., along with its affiliated companies, delivers advanced satellite-based broadband communication solutions both in Israel and across international markets. Its operations are structured across three primary divisions: Fixed Networks, Mobility Solutions, and Terrestrial Infrastructure Projects. The company is involved in both the engineering and production of terrestrial satellite communication hardware, as well as the provision of comprehensive, full-spectrum solutions and services. Its product offerings encompass a wide array of specialized satellite ground equipment. This includes various very small aperture terminals (VSATs), both fixed and mobile antennas, amplifiers, modems, transceivers, and other critical components like solid state power amplifiers (SSPAs) and block upconverters (BUCs). Furthermore, Gilat delivers integrated, end-to-end solutions.
GILT (Gilat Satellite Networks Ltd.) trades in the Technology sector, specifically Communication Equipment, with a market capitalization of approximately $753.5M, a trailing P/E of 27.55, a beta of 1.01 versus the broader market, a 52-week range of 6.94-20.93, average daily share volume of 873K, a public-listing history dating back to 1993, approximately 1K full-time employees. These structural characteristics shape how GILT stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.01 places GILT roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.
What is a iron condor on GILT?
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 GILT snapshot
As of June 29, 2026, spot at $13.02, ATM IV 73.60%, IV rank 19.36%, expected move 21.10%. The iron condor on GILT 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 18-day expiry.
Why this iron condor structure on GILT specifically: GILT IV at 73.60% is on the cheap side of its 1-year range, which means a premium-selling GILT iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 21.10% (roughly $2.75 on the underlying). The 18-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated GILT expiries trade a higher absolute premium for lower per-day decay. Position sizing on GILT should anchor to the underlying notional of $13.02 per share and to the trader's directional view on GILT stock.
GILT iron condor setup
The GILT 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 GILT near $13.02, the first option leg uses a $13.67 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed GILT chain at a 18-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 GILT shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $13.67 | N/A |
| Buy 1 | Call | $14.32 | N/A |
| Sell 1 | Put | $12.37 | N/A |
| Buy 1 | Put | $11.72 | N/A |
GILT 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.
GILT iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on GILT. 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 GILT
Iron condors on GILT are a delta-neutral premium-collection structure that profits if GILT stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
GILT thesis for this iron condor
The market-implied 1-standard-deviation range for GILT extends from approximately $10.27 on the downside to $15.77 on the upside. A GILT iron condor is a delta-neutral premium-collection structure that pays off when GILT 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 GILT IV rank near 19.36% 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 GILT at 73.60%. As a Technology name, GILT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to GILT-specific events.
GILT 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. GILT positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move GILT alongside the broader basket even when GILT-specific fundamentals are unchanged. Short-premium structures like a iron condor on GILT carry tail risk when realized volatility exceeds the implied move; review historical GILT earnings reactions and macro stress periods before sizing. Always rebuild the position from current GILT chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on GILT?
- A iron condor on GILT is the iron condor strategy applied to GILT (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 GILT stock trading near $13.02, the strikes shown on this page are snapped to the nearest listed GILT chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are GILT 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 GILT iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 73.60%), 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 GILT iron condor?
- The breakeven for the GILT 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 GILT market-implied 1-standard-deviation expected move is approximately 21.10%; 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 GILT?
- Iron condors on GILT are a delta-neutral premium-collection structure that profits if GILT stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current GILT implied volatility affect this iron condor?
- GILT ATM IV is at 73.60% with IV rank near 19.36%, 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.