HLNE Iron Condor Strategy
HLNE (Hamilton Lane Incorporated), in the Financial Services sector, (Asset Management industry), listed on NASDAQ.
Hamilton Lane Incorporated is an investment firm specializing in direct and fund of fund investments. It provides following services: separate accounts (customized to each individual client and structured as single client vehicles); specialized strategies (fund-of-funds, secondaries, co-investments, taft-hartley, distribution management); advisory relationships (including due diligence, strategic portfolio planning, monitoring and reporting services); and reporting and analytics solutions. For direct investments, the firm invests in early, mid and late venture, mature companies, growth equity, emerging growth, distressed debt, later stage, turnarounds, bridge financing, mezzanine financing, and buyouts in middle market companies. For fund of fund investments, it invests in mezzanine, venture capital, private equity, turnaround, secondary investments, real estate, and special situation funds. The firm invests in real estate investments. It also invest in technology, healthcare, education, natural resources, energy and essential consumer goods sectors, cleantech, and environment, community development, and financial empowerment.
HLNE (Hamilton Lane Incorporated) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $4.84B, a trailing P/E of 13.78, a beta of 1.19 versus the broader market, a 52-week range of 84.08-179.19, average daily share volume of 898K, a public-listing history dating back to 2017, approximately 700 full-time employees. These structural characteristics shape how HLNE stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.19 places HLNE roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. HLNE pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on HLNE?
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 HLNE snapshot
As of May 15, 2026, spot at $85.64, ATM IV 61.80%, IV rank 70.64%, expected move 17.72%. The iron condor on HLNE 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 HLNE specifically: HLNE IV at 61.80% is rich versus its 1-year range, which favors premium-selling structures like a HLNE iron condor, with a market-implied 1-standard-deviation move of approximately 17.72% (roughly $15.17 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 HLNE expiries trade a higher absolute premium for lower per-day decay. Position sizing on HLNE should anchor to the underlying notional of $85.64 per share and to the trader's directional view on HLNE stock.
HLNE iron condor setup
The HLNE 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 HLNE near $85.64, the first option leg uses a $90.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed HLNE 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 HLNE shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $90.00 | $4.85 |
| Buy 1 | Call | $95.00 | $3.33 |
| Sell 1 | Put | $80.00 | $3.13 |
| Buy 1 | Put | $75.00 | $2.08 |
HLNE iron condor risk and reward
- Net Premium / Debit
- +$257.50
- Max Profit (per contract)
- $257.50
- Max Loss (per contract)
- -$242.50
- Breakeven(s)
- $77.43, $92.58
- Risk / Reward Ratio
- 1.062
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.
HLNE iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on HLNE. 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% | -$242.50 |
| $18.94 | -77.9% | -$242.50 |
| $37.88 | -55.8% | -$242.50 |
| $56.81 | -33.7% | -$242.50 |
| $75.75 | -11.6% | -$167.75 |
| $94.68 | +10.6% | -$210.69 |
| $113.62 | +32.7% | -$242.50 |
| $132.55 | +54.8% | -$242.50 |
| $151.48 | +76.9% | -$242.50 |
| $170.42 | +99.0% | -$242.50 |
When traders use iron condor on HLNE
Iron condors on HLNE are a delta-neutral premium-collection structure that profits if HLNE stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
HLNE thesis for this iron condor
The market-implied 1-standard-deviation range for HLNE extends from approximately $70.47 on the downside to $100.81 on the upside. A HLNE iron condor is a delta-neutral premium-collection structure that pays off when HLNE 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 HLNE IV rank near 70.64% sits in the upper third of its 1-year distribution, which historically reverts; this raises the bar for premium-buying structures and lowers it for premium-selling structures on HLNE at 61.80%. As a Financial Services name, HLNE options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to HLNE-specific events.
HLNE 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. HLNE positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move HLNE alongside the broader basket even when HLNE-specific fundamentals are unchanged. Short-premium structures like a iron condor on HLNE carry tail risk when realized volatility exceeds the implied move; review historical HLNE earnings reactions and macro stress periods before sizing. Always rebuild the position from current HLNE chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on HLNE?
- A iron condor on HLNE is the iron condor strategy applied to HLNE (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 HLNE stock trading near $85.64, the strikes shown on this page are snapped to the nearest listed HLNE chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are HLNE 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 HLNE iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 61.80%), the computed maximum profit is $257.50 per contract and the computed maximum loss is -$242.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a HLNE iron condor?
- The breakeven for the HLNE iron condor priced on this page is roughly $77.43 and $92.58 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 HLNE market-implied 1-standard-deviation expected move is approximately 17.72%; 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 HLNE?
- Iron condors on HLNE are a delta-neutral premium-collection structure that profits if HLNE stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current HLNE implied volatility affect this iron condor?
- HLNE ATM IV is at 61.80% with IV rank near 70.64%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.