How are HII 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 HII iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 34.20%), the computed maximum profit is $917.50 per contract and the computed maximum loss is -$1,082.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a HII iron condor?

The breakeven for the HII iron condor priced on this page is roughly $300.83 and $349.18 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 HII market-implied 1-standard-deviation expected move is approximately 9.80%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current HII implied volatility affect this iron condor?

HII ATM IV is at 34.20% with IV rank near 30.07%, 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.

HII Iron Condor Strategy

HII (Huntington Ingalls Industries, Inc.), in the Industrials sector, (Aerospace & Defense industry), listed on NYSE.

Huntington Ingalls Industries, Inc. engages in designing, building, overhauling, and repairing military ships in the United States. It operates through three segments: Ingalls Shipbuilding, Newport News Shipbuilding, and Technical Solutions. The company is involved in the design and construction of non-nuclear ships comprising amphibious assault ships; expeditionary warfare ships; surface combatants; and national security cutters for the U.S. Navy and U.S. Coast Guard. It also provides nuclear-powered ships, such as aircraft carriers and submarines, as well as refueling and overhaul, and inactivation services of ships.

HII (Huntington Ingalls Industries, Inc.) trades in the Industrials sector, specifically Aerospace & Defense, with a market capitalization of approximately $13.17B, a trailing P/E of 21.71, a beta of 0.29 versus the broader market, a 52-week range of 215.05-460, average daily share volume of 520K, a public-listing history dating back to 2011, approximately 44K full-time employees. These structural characteristics shape how HII stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.29 indicates HII has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. HII pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a iron condor on HII?

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 HII snapshot

As of May 15, 2026, spot at $326.16, ATM IV 34.20%, IV rank 30.07%, expected move 9.80%. The iron condor on HII 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 HII specifically: HII IV at 34.20% is mid-range versus its 1-year history, so the credit collected on a HII iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 9.80% (roughly $31.98 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 HII expiries trade a higher absolute premium for lower per-day decay. Position sizing on HII should anchor to the underlying notional of $326.16 per share and to the trader's directional view on HII stock.

HII iron condor setup

The HII 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 HII near $326.16, the first option leg uses a $340.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed HII 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 HII shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$340.00	$8.40
Buy 1	Call	$360.00	$3.75
Sell 1	Put	$310.00	$7.60
Buy 1	Put	$290.00	$3.08

HII iron condor risk and reward

Net Premium / Debit: +$917.50
Max Profit (per contract): $917.50
Max Loss (per contract): -$1,082.50
Breakeven(s): $300.83, $349.18
Risk / Reward Ratio: 0.848

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.

HII iron condor payoff curve

Modeled P&L at expiration across a range of underlying prices for the iron condor on HII. 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.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-100.0%	-$1,082.50
$72.12	-77.9%	-$1,082.50
$144.24	-55.8%	-$1,082.50
$216.35	-33.7%	-$1,082.50
$288.47	-11.6%	-$1,082.50
$360.58	+10.6%	-$1,082.50
$432.70	+32.7%	-$1,082.50
$504.81	+54.8%	-$1,082.50
$576.93	+76.9%	-$1,082.50
$649.04	+99.0%	-$1,082.50

When traders use iron condor on HII

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

HII thesis for this iron condor

The market-implied 1-standard-deviation range for HII extends from approximately $294.18 on the downside to $358.14 on the upside. A HII iron condor is a delta-neutral premium-collection structure that pays off when HII 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 HII IV rank near 30.07% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on HII should anchor more to the directional view and the expected-move geometry. As a Industrials name, HII options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to HII-specific events.

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

Frequently asked questions

What is a iron condor on HII?: A iron condor on HII is the iron condor strategy applied to HII (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 HII stock trading near $326.16, the strikes shown on this page are snapped to the nearest listed HII chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are HII 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 HII iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 34.20%), the computed maximum profit is $917.50 per contract and the computed maximum loss is -$1,082.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a HII iron condor?: The breakeven for the HII iron condor priced on this page is roughly $300.83 and $349.18 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 HII market-implied 1-standard-deviation expected move is approximately 9.80%; 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 HII?: Iron condors on HII are a delta-neutral premium-collection structure that profits if HII stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
How does current HII implied volatility affect this iron condor?: HII ATM IV is at 34.20% with IV rank near 30.07%, 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.