HUBG Iron Condor Strategy
HUBG (Hub Group, Inc.), in the Industrials sector, (Integrated Freight & Logistics industry), listed on NASDAQ.
Hub Group, Inc., a supply chain solutions provider, offers transportation and logistics management services in North America. It operates in two segments, Intermodal and Transportation Solutions (ITS), and Logistics. The ITS segment offers intermodal and dedicated trucking services, including freight transportation, truckload, less-than-truckload, flatbed, temperature-controlled, and dedicated and regional trucking services. The Logistics segment provides transportation management, freight brokerage, shipment optimization, load consolidation, mode selection, carrier management, load planning and execution, warehousing, fulfillment, cross-docking, and consolidation and final mile delivery services. It also provides trucking transportation services, including dry van, expedited, less-than-truckload, and refrigerated and flatbed services. As of December 31, 2024, the company operated a fleet of approximately 2,300 tractors, 3,200 employee drivers, 500 independent owner-operators, and 4,700 trailers; and owned approximately 50,000 dry and 53-foot containers, as well as 900 refrigerated 53-foot containers.
HUBG (Hub Group, Inc.) trades in the Industrials sector, specifically Integrated Freight & Logistics, with a market capitalization of approximately $2.44B, a trailing P/E of 29.92, a beta of 1.22 versus the broader market, a 52-week range of 32.9-53.26, average daily share volume of 747K, a public-listing history dating back to 1996, approximately 7K full-time employees. These structural characteristics shape how HUBG stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.22 places HUBG roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. HUBG pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on HUBG?
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.
HUBG snapshot
As of August 14, 2026, spot at $40.14, ATM IV 59.80%, IV rank 29.55%, expected move 17.14%. The iron condor on HUBG below is built from the 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 HUBG specifically: HUBG IV at 59.80% is on the cheap side of its 1-year range, which means a premium-selling HUBG iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 17.14% (roughly $6.88 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 HUBG expiries trade a higher absolute premium for lower per-day decay. Position sizing on HUBG should anchor to the underlying notional of $40.14 per share and to the trader's directional view on HUBG stock.
HUBG iron condor setup
The HUBG 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 HUBG at $40.14 on that close, the first option leg uses a $42.15 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed HUBG 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 HUBG shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $42.15 | N/A |
| Buy 1 | Call | $44.15 | N/A |
| Sell 1 | Put | $38.13 | N/A |
| Buy 1 | Put | $36.13 | N/A |
HUBG 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.
HUBG iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on HUBG. 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 HUBG
Iron condors on HUBG are a delta-neutral premium-collection structure that profits if HUBG stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
HUBG thesis for this iron condor
The market-implied 1-standard-deviation range for HUBG extends from approximately $33.26 on the downside to $47.02 on the upside. A HUBG iron condor is a delta-neutral premium-collection structure that pays off when HUBG 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 HUBG IV rank near 29.55% sits in the lower third of its 1-year distribution, where IV often re-expands toward the mean; this favors premium-buying structures and disadvantages premium-selling structures on HUBG at 59.80%. As a Industrials name, HUBG options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to HUBG-specific events.
HUBG 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. HUBG positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move HUBG alongside the broader basket even when HUBG-specific fundamentals are unchanged. Short-premium structures like a iron condor on HUBG carry tail risk when realized volatility exceeds the implied move; review historical HUBG earnings reactions and macro stress periods before sizing. Always rebuild the position from current HUBG chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on HUBG?
- A iron condor on HUBG is the iron condor strategy applied to HUBG (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 HUBG stock at $40.14 on the most recent close, the strikes shown on this page are snapped to the nearest listed HUBG chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are HUBG 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 HUBG iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 59.80%), 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 HUBG iron condor?
- The breakeven for the HUBG iron condor priced on this page is no defined breakeven on the modeled curve at expiration, derived from the 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 HUBG market-implied 1-standard-deviation expected move in the same options snapshot is approximately 17.14%; 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 HUBG?
- Iron condors on HUBG are a delta-neutral premium-collection structure that profits if HUBG stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current HUBG implied volatility affect this iron condor?
- HUBG ATM IV is at 59.80% with IV rank near 29.55%, which is on the low end of its 1-year range. Premium-buying structures (long call, long put, debit spreads) are relatively cheap in this regime; premium-selling structures collect less credit per unit risk.