How are GOOG 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 GOOG iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 37.83%), the computed maximum profit is $867.50 per contract and the computed maximum loss is -$1,132.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a GOOG iron condor?

The breakeven for the GOOG iron condor priced on this page is roughly $326.33 and $378.68 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 GOOG market-implied 1-standard-deviation expected move is approximately 10.85%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current GOOG implied volatility affect this iron condor?

GOOG ATM IV is at 37.83% with IV rank near 67.10%, 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.

GOOG Iron Condor Strategy

GOOG (Alphabet Inc.), in the Communication Services sector, (Internet Content & Information industry), listed on NASDAQ.

Alphabet Inc. operates globally, providing a wide array of products and digital platforms to customers across the United States, Europe, the Middle East, Africa, the Asia-Pacific region, Canada, and Latin America. The company's business is organized into three primary segments: Google Services, Google Cloud, and Other Bets. The Google Services division delivers a broad spectrum of consumer-facing offerings, which include its advertising products, the Android operating system, Chrome browser, various hardware devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search functionality, and YouTube. This segment also generates revenue through the sale of applications, in-app purchases, and digital content via Google Play and YouTube, alongside device sales and consumer subscriptions for YouTube services. Conversely, the Google Cloud segment furnishes enterprise-grade solutions such as infrastructure, cybersecurity, database management, analytics, artificial intelligence, and other professional services. This encompasses the Google Workspace suite, a collection of cloud-native communication and collaboration tools for businesses, including Gmail, Docs, Drive, Calendar, and Meet, among other offerings tailored for corporate clients.

GOOG (Alphabet Inc.) trades in the Communication Services sector, specifically Internet Content & Information, with a market capitalization of approximately $4.07T, a trailing P/E of 25.48, a beta of 1.24 versus the broader market, a 52-week range of 173.88-404.47, average daily share volume of 20.7M, a public-listing history dating back to 2004, approximately 186K full-time employees. These structural characteristics shape how GOOG stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.24 places GOOG roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. GOOG pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a iron condor on GOOG?

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 GOOG snapshot

As of June 29, 2026, spot at $351.90, ATM IV 37.83%, IV rank 67.10%, expected move 10.85%. The iron condor on GOOG 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 32-day expiry.

Why this iron condor structure on GOOG specifically: GOOG IV at 37.83% is mid-range versus its 1-year history, so the credit collected on a GOOG iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 10.85% (roughly $38.17 on the underlying). The 32-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated GOOG expiries trade a higher absolute premium for lower per-day decay. Position sizing on GOOG should anchor to the underlying notional of $351.90 per share and to the trader's directional view on GOOG stock.

GOOG iron condor setup

The GOOG 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 GOOG near $351.90, the first option leg uses a $370.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed GOOG chain at a 32-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 GOOG shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$370.00	$9.53
Buy 1	Call	$385.00	$5.53
Sell 1	Put	$335.00	$8.63
Buy 1	Put	$315.00	$3.95

GOOG iron condor risk and reward

Net Premium / Debit: +$867.50
Max Profit (per contract): $867.50
Max Loss (per contract): -$1,132.50
Breakeven(s): $326.33, $378.68
Risk / Reward Ratio: 0.766

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.

GOOG iron condor payoff curve

Modeled P&L at expiration across a range of underlying prices for the iron condor on GOOG. 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%	-$1,132.50
$77.82	-77.9%	-$1,132.50
$155.62	-55.8%	-$1,132.50
$233.43	-33.7%	-$1,132.50
$311.23	-11.6%	-$1,132.50
$389.04	+10.6%	-$632.50
$466.85	+32.7%	-$632.50
$544.65	+54.8%	-$632.50
$622.46	+76.9%	-$632.50
$700.26	+99.0%	-$632.50

When traders use iron condor on GOOG

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

GOOG thesis for this iron condor

The market-implied 1-standard-deviation range for GOOG extends from approximately $313.73 on the downside to $390.07 on the upside. A GOOG iron condor is a delta-neutral premium-collection structure that pays off when GOOG 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 GOOG IV rank near 67.10% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on GOOG should anchor more to the directional view and the expected-move geometry. As a Communication Services name, GOOG options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to GOOG-specific events.

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

Frequently asked questions

What is a iron condor on GOOG?: A iron condor on GOOG is the iron condor strategy applied to GOOG (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 GOOG stock trading near $351.90, the strikes shown on this page are snapped to the nearest listed GOOG chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are GOOG 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 GOOG iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 37.83%), the computed maximum profit is $867.50 per contract and the computed maximum loss is -$1,132.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a GOOG iron condor?: The breakeven for the GOOG iron condor priced on this page is roughly $326.33 and $378.68 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 GOOG market-implied 1-standard-deviation expected move is approximately 10.85%; 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 GOOG?: Iron condors on GOOG are a delta-neutral premium-collection structure that profits if GOOG stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
How does current GOOG implied volatility affect this iron condor?: GOOG ATM IV is at 37.83% with IV rank near 67.10%, 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.