GSIT Iron Condor Strategy
GSIT (GSI Technology, Inc.), in the Technology sector, (Semiconductors industry), listed on NASDAQ.
GSI Technology, Inc., a fabless semiconductor company, designs, develops, and markets semiconductor memory solutions to networking, industrial, medical, aerospace, and military customers in the United States, China, Singapore, Germany, the Netherlands, and internationally. The company's associative processing unit products offers applications using similarity search in visual search queries for ecommerce, computer vision, drug discovery, cyber security, and service markets. In addition, it offers static random access memory (SRAM) products, such as SyncBurst for microprocessor cache and other applications; No Bus Turnaround SRAMs to address the needs of networking and telecom applications; SigmaQuad and SigmaDDR products for density and random transaction rate requirements of networking and telecom applications; Low Latency DRAMs a solution for advanced data networking applications; Asynchronous, a main memory for small cache-less embedded processors for industrial electronics, measurement systems and cost-sensitive networking equipment, and other applications; and specialty SRAMs. The company also provide radiation-hardened and radiation-tolerant SRAMs for aerospace and military applications, such as networking satellites and missiles. Its products are used as components in our OEM customers' products, including routers, switches and other networking and telecommunications products; military and aerospace applications, such as radar and guidance systems and satellites; audio/video processing; test and measurement applications consisting of high-speed testers; and automotive applications, such as smart cruise control; and medical applications, including ultrasound and CAT scan equipment. The company markets its products through a network of independent sales representatives and distributors.
GSIT (GSI Technology, Inc.) trades in the Technology sector, specifically Semiconductors, with a market capitalization of approximately $357.6M, a beta of 1.93 versus the broader market, a 52-week range of 2.82-18.15, average daily share volume of 1.1M, a public-listing history dating back to 2007, approximately 148 full-time employees. These structural characteristics shape how GSIT stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.93 indicates GSIT has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.
What is a iron condor on GSIT?
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 GSIT snapshot
As of May 15, 2026, spot at $9.62, ATM IV 146.30%, IV rank 43.21%, expected move 41.94%. The iron condor on GSIT 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 GSIT specifically: GSIT IV at 146.30% is mid-range versus its 1-year history, so the credit collected on a GSIT iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 41.94% (roughly $4.03 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 GSIT expiries trade a higher absolute premium for lower per-day decay. Position sizing on GSIT should anchor to the underlying notional of $9.62 per share and to the trader's directional view on GSIT stock.
GSIT iron condor setup
The GSIT 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 GSIT near $9.62, the first option leg uses a $10.10 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed GSIT 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 GSIT shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $10.10 | N/A |
| Buy 1 | Call | $10.58 | N/A |
| Sell 1 | Put | $9.14 | N/A |
| Buy 1 | Put | $8.66 | N/A |
GSIT 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.
GSIT iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on GSIT. 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 GSIT
Iron condors on GSIT are a delta-neutral premium-collection structure that profits if GSIT stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
GSIT thesis for this iron condor
The market-implied 1-standard-deviation range for GSIT extends from approximately $5.59 on the downside to $13.65 on the upside. A GSIT iron condor is a delta-neutral premium-collection structure that pays off when GSIT 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 GSIT IV rank near 43.21% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on GSIT should anchor more to the directional view and the expected-move geometry. As a Technology name, GSIT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to GSIT-specific events.
GSIT 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. GSIT positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move GSIT alongside the broader basket even when GSIT-specific fundamentals are unchanged. Short-premium structures like a iron condor on GSIT carry tail risk when realized volatility exceeds the implied move; review historical GSIT earnings reactions and macro stress periods before sizing. Always rebuild the position from current GSIT chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on GSIT?
- A iron condor on GSIT is the iron condor strategy applied to GSIT (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 GSIT stock trading near $9.62, the strikes shown on this page are snapped to the nearest listed GSIT chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are GSIT 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 GSIT iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 146.30%), 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 GSIT iron condor?
- The breakeven for the GSIT 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 GSIT market-implied 1-standard-deviation expected move is approximately 41.94%; 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 GSIT?
- Iron condors on GSIT are a delta-neutral premium-collection structure that profits if GSIT stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current GSIT implied volatility affect this iron condor?
- GSIT ATM IV is at 146.30% with IV rank near 43.21%, 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.