HIVE Iron Condor Strategy
HIVE (HIVE Digital Technologies Ltd.), in the Financial Services sector, (Information Technology Services industry), listed on NASDAQ.
HIVE Digital Technologies Ltd. is a technology company focused on building and operating data centers in Bermuda, exclusively powered by green energy. The firm's operations encompass the mining and subsequent sale of digital currencies, as well as providing performance computing hosting services. Additionally, HIVE offers essential infrastructure solutions, supplying computational capacity to distributed networks within the blockchain sector. Founded in 1987, the company was formerly known as HIVE Blockchain Technologies Ltd. before adopting its current name in July 2023. Its corporate headquarters are located in San Antonio, Texas.
HIVE (HIVE Digital Technologies Ltd.) trades in the Financial Services sector, specifically Information Technology Services, with a market capitalization of approximately $1.08B, a beta of 3.72 versus the broader market, a 52-week range of 1.73-7.84, average daily share volume of 27.1M, a public-listing history dating back to 2011, approximately 20 full-time employees. These structural characteristics shape how HIVE stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 3.72 indicates HIVE 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 HIVE?
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 HIVE snapshot
As of June 30, 2026, spot at $3.63, ATM IV 121.23%, IV rank 30.11%, expected move 34.76%. The iron condor on HIVE 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 31-day expiry.
Why this iron condor structure on HIVE specifically: HIVE IV at 121.23% is mid-range versus its 1-year history, so the credit collected on a HIVE iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 34.76% (roughly $1.26 on the underlying). The 31-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated HIVE expiries trade a higher absolute premium for lower per-day decay. Position sizing on HIVE should anchor to the underlying notional of $3.63 per share and to the trader's directional view on HIVE stock.
HIVE iron condor setup
The HIVE 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 HIVE near $3.63, the first option leg uses a $3.81 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed HIVE chain at a 31-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 HIVE shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $3.81 | N/A |
| Buy 1 | Call | $3.99 | N/A |
| Sell 1 | Put | $3.45 | N/A |
| Buy 1 | Put | $3.27 | N/A |
HIVE 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.
HIVE iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on HIVE. 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 HIVE
Iron condors on HIVE are a delta-neutral premium-collection structure that profits if HIVE stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
HIVE thesis for this iron condor
The market-implied 1-standard-deviation range for HIVE extends from approximately $2.37 on the downside to $4.89 on the upside. A HIVE iron condor is a delta-neutral premium-collection structure that pays off when HIVE 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 HIVE IV rank near 30.11% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on HIVE should anchor more to the directional view and the expected-move geometry. As a Financial Services name, HIVE options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to HIVE-specific events.
HIVE 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. HIVE positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move HIVE alongside the broader basket even when HIVE-specific fundamentals are unchanged. Short-premium structures like a iron condor on HIVE carry tail risk when realized volatility exceeds the implied move; review historical HIVE earnings reactions and macro stress periods before sizing. Always rebuild the position from current HIVE chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on HIVE?
- A iron condor on HIVE is the iron condor strategy applied to HIVE (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 HIVE stock trading near $3.63, the strikes shown on this page are snapped to the nearest listed HIVE chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are HIVE 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 HIVE iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 121.23%), 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 HIVE iron condor?
- The breakeven for the HIVE 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 HIVE market-implied 1-standard-deviation expected move is approximately 34.76%; 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 HIVE?
- Iron condors on HIVE are a delta-neutral premium-collection structure that profits if HIVE stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current HIVE implied volatility affect this iron condor?
- HIVE ATM IV is at 121.23% with IV rank near 30.11%, 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.