GNE Iron Condor Strategy
GNE (Genie Energy Ltd.), in the Utilities sector, (Regulated Electric industry), listed on NYSE.
Genie Energy Ltd., through its subsidiaries, supplies electricity and natural gas to residential and small business customers in the United States, Finland, Sweden, Japan, and internationally. It operates in three segments: Genie Retail Energy (GRE); GRE International; and Genie Renewables. The company also engages in the provision of energy advisory and brokerage services; solar panel manufacturing and distribution; solar installation design; and project management activities. Genie Energy Ltd. was incorporated in 2011 and is headquartered in Newark, New Jersey.
GNE (Genie Energy Ltd.) trades in the Utilities sector, specifically Regulated Electric, with a market capitalization of approximately $368.6M, a trailing P/E of 14.58, a beta of 0.20 versus the broader market, a 52-week range of 13.19-28.47, average daily share volume of 56K, a public-listing history dating back to 2011, approximately 152 full-time employees. These structural characteristics shape how GNE stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.20 indicates GNE has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. GNE pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on GNE?
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 GNE snapshot
As of May 15, 2026, spot at $13.46, ATM IV 63.40%, IV rank 12.37%, expected move 18.18%. The iron condor on GNE 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 GNE specifically: GNE IV at 63.40% is on the cheap side of its 1-year range, which means a premium-selling GNE iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 18.18% (roughly $2.45 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 GNE expiries trade a higher absolute premium for lower per-day decay. Position sizing on GNE should anchor to the underlying notional of $13.46 per share and to the trader's directional view on GNE stock.
GNE iron condor setup
The GNE 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 GNE near $13.46, the first option leg uses a $14.13 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed GNE 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 GNE shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $14.13 | N/A |
| Buy 1 | Call | $14.81 | N/A |
| Sell 1 | Put | $12.79 | N/A |
| Buy 1 | Put | $12.11 | N/A |
GNE 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.
GNE iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on GNE. 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 GNE
Iron condors on GNE are a delta-neutral premium-collection structure that profits if GNE stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
GNE thesis for this iron condor
The market-implied 1-standard-deviation range for GNE extends from approximately $11.01 on the downside to $15.91 on the upside. A GNE iron condor is a delta-neutral premium-collection structure that pays off when GNE 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 GNE IV rank near 12.37% 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 GNE at 63.40%. As a Utilities name, GNE options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to GNE-specific events.
GNE 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. GNE positions also carry Utilities sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move GNE alongside the broader basket even when GNE-specific fundamentals are unchanged. Short-premium structures like a iron condor on GNE carry tail risk when realized volatility exceeds the implied move; review historical GNE earnings reactions and macro stress periods before sizing. Always rebuild the position from current GNE chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on GNE?
- A iron condor on GNE is the iron condor strategy applied to GNE (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 GNE stock trading near $13.46, the strikes shown on this page are snapped to the nearest listed GNE chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are GNE 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 GNE iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 63.40%), 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 GNE iron condor?
- The breakeven for the GNE 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 GNE market-implied 1-standard-deviation expected move is approximately 18.18%; 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 GNE?
- Iron condors on GNE are a delta-neutral premium-collection structure that profits if GNE stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current GNE implied volatility affect this iron condor?
- GNE ATM IV is at 63.40% with IV rank near 12.37%, 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.