How are HEI 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 HEI iron condor priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 39.50%), the computed maximum profit is $1,085.00 per contract and the computed maximum loss is -$915.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a HEI iron condor?

The breakeven for the HEI iron condor priced on this page is roughly $349.15 and $400.85 at expiration, derived from the August 14, 2026 end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The HEI market-implied 1-standard-deviation expected move in the same options snapshot is approximately 11.32%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current HEI implied volatility affect this iron condor?

HEI ATM IV is at 39.50% with IV rank near 69.67%, 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.

HEI Iron Condor Strategy

HEI (HEICO Corporation), in the Industrials sector, (Aerospace & Defense industry), listed on NYSE.

HEICO Corporation operates as a global enterprise through its various subsidiaries, specializing in the design, manufacturing, and distribution of an extensive range of products and services tailored for the aerospace, defense, and electronics industries. The company's Flight Support Group (FSG) division is a principal supplier of essential replacement components for jet engines and aircraft. Its offerings include specialized thermal insulation products, such as blankets and reusable systems, along with a variety of bespoke parts. The FSG also serves as a distributor for a wide array of hydraulic, pneumatic, structural, interconnect, mechanical, and electro-mechanical components, primarily targeting the commercial, regional, and general aviation sectors. Additionally, this segment provides comprehensive repair and overhaul services, covering jet engine and aircraft parts, avionics, instruments, composites, and flight surfaces for commercial aircraft, as well as navigation systems and various instruments used in military planes. HEICO's Electronic Technologies Group (ETG) delivers a broad and sophisticated portfolio of electronic solutions.

HEI (HEICO Corporation) trades in the Industrials sector, specifically Aerospace & Defense, with a market capitalization of approximately $51.98B, a trailing P/E of 65.94, a beta of 1.04 versus the broader market, a 52-week range of 256.11-376.86, average daily share volume of 607K, a public-listing history dating back to 1980, approximately 11K full-time employees. These structural characteristics shape how HEI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.04 places HEI roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 65.94 is on the rich side, which tends to correlate with higher earnings-window IV expansion as the market debates whether forward growth supports the multiple. HEI pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a iron condor on HEI?

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.

HEI snapshot

As of August 14, 2026, spot at $375.04, ATM IV 39.50%, IV rank 69.67%, expected move 11.32%. The iron condor on HEI below is built from the August 14, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.

Why this iron condor structure on HEI specifically: HEI IV at 39.50% is mid-range versus its 1-year history, so the credit collected on a HEI iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 11.32% (roughly $42.47 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated HEI expiries trade a higher absolute premium for lower per-day decay. Position sizing on HEI should anchor to the underlying notional of $375.04 per share and to the trader's directional view on HEI stock.

HEI iron condor setup

The HEI iron condor below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With HEI at $375.04 on that close, the first option leg uses a $390.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed HEI chain at a 35-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 HEI shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$390.00	$11.65
Buy 1	Call	$410.00	$6.15
Sell 1	Put	$360.00	$11.70
Buy 1	Put	$340.00	$6.35

HEI iron condor risk and reward

Net Premium / Debit: +$1,085.00
Max Profit (per contract): $1,085.00
Max Loss (per contract): -$915.00
Breakeven(s): $349.15, $400.85
Risk / Reward Ratio: 1.186

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.

HEI iron condor payoff curve

Modeled P&L at expiration across a range of underlying prices for the iron condor on HEI. 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%	-$915.00
$82.93	-77.9%	-$915.00
$165.85	-55.8%	-$915.00
$248.78	-33.7%	-$915.00
$331.70	-11.6%	-$915.00
$414.62	+10.6%	-$915.00
$497.54	+32.7%	-$915.00
$580.47	+54.8%	-$915.00
$663.39	+76.9%	-$915.00
$746.31	+99.0%	-$915.00

When traders use iron condor on HEI

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

HEI thesis for this iron condor

The market-implied 1-standard-deviation range for HEI extends from approximately $332.57 on the downside to $417.51 on the upside. A HEI iron condor is a delta-neutral premium-collection structure that pays off when HEI 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 HEI IV rank near 69.67% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on HEI should anchor more to the directional view and the expected-move geometry. As a Industrials name, HEI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to HEI-specific events.

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

Frequently asked questions

What is a iron condor on HEI?: A iron condor on HEI is the iron condor strategy applied to HEI (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 HEI stock at $375.04 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed HEI chain strike and the premiums come straight from that session's bid/ask midpoint.
How are HEI 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 HEI iron condor priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 39.50%), the computed maximum profit is $1,085.00 per contract and the computed maximum loss is -$915.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a HEI iron condor?: The breakeven for the HEI iron condor priced on this page is roughly $349.15 and $400.85 at expiration, derived from the August 14, 2026 end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The HEI market-implied 1-standard-deviation expected move in the same options snapshot is approximately 11.32%; 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 HEI?: Iron condors on HEI are a delta-neutral premium-collection structure that profits if HEI stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
How does current HEI implied volatility affect this iron condor?: HEI ATM IV is at 39.50% with IV rank near 69.67%, 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.