HURN Iron Condor Strategy
HURN (Huron Consulting Group Inc.), in the Industrials sector, (Consulting Services industry), listed on NASDAQ.
Huron Consulting Group Inc. provides global professional services in the United States and internationally. It operates through three segments: Healthcare, Education, and Commercial. The company offers financial and operational performance improvement consulting services; digital services; spanning technology and analytic-related services, including enterprise health record, enterprise resource planning, enterprise performance management, customer relationship management, data management, artificial intelligence and automation, technology managed services, and a portfolio of software products; organizational transformation; revenue cycle managed services and outsourcing; financial and capital advisory consulting; and strategy and innovation consulting. It also provides research-focused consulting and managed services, as well as Huron Research product suite, a software suite designed to facilitate and improve research administration service delivery and compliance. In addition, the company offers software products, financial capital advisory services, regulatory compliance and risk management consulting, and Commercial consulting. The company serves healthcare, education, financial services, industrials and manufacturing, energy and utilities, public sector, and other commercial industries.
HURN (Huron Consulting Group Inc.) trades in the Industrials sector, specifically Consulting Services, with a market capitalization of approximately $1.60B, a trailing P/E of 16.16, a beta of 0.09 versus the broader market, a 52-week range of 84.88-186.78, average daily share volume of 271K, a public-listing history dating back to 2004, approximately 9K full-time employees. These structural characteristics shape how HURN stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.09 indicates HURN has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure.
What is a iron condor on HURN?
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 HURN snapshot
As of June 30, 2026, spot at $91.25, ATM IV 59.10%, IV rank 62.35%, expected move 16.94%. The iron condor on HURN 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 17-day expiry.
Why this iron condor structure on HURN specifically: HURN IV at 59.10% is mid-range versus its 1-year history, so the credit collected on a HURN iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 16.94% (roughly $15.46 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated HURN expiries trade a higher absolute premium for lower per-day decay. Position sizing on HURN should anchor to the underlying notional of $91.25 per share and to the trader's directional view on HURN stock.
HURN iron condor setup
The HURN 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 HURN near $91.25, the first option leg uses a $95.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed HURN chain at a 17-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 HURN shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $95.00 | $3.50 |
| Buy 1 | Call | $100.00 | $1.93 |
| Sell 1 | Put | $85.00 | $2.25 |
| Buy 1 | Put | $80.00 | $1.65 |
HURN iron condor risk and reward
- Net Premium / Debit
- +$217.50
- Max Profit (per contract)
- $217.50
- Max Loss (per contract)
- -$282.50
- Breakeven(s)
- $82.83, $97.18
- Risk / Reward Ratio
- 0.770
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.
HURN iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on HURN. 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% | -$282.50 |
| $20.18 | -77.9% | -$282.50 |
| $40.36 | -55.8% | -$282.50 |
| $60.53 | -33.7% | -$282.50 |
| $80.71 | -11.6% | -$211.59 |
| $100.88 | +10.6% | -$282.50 |
| $121.06 | +32.7% | -$282.50 |
| $141.23 | +54.8% | -$282.50 |
| $161.41 | +76.9% | -$282.50 |
| $181.58 | +99.0% | -$282.50 |
When traders use iron condor on HURN
Iron condors on HURN are a delta-neutral premium-collection structure that profits if HURN stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
HURN thesis for this iron condor
The market-implied 1-standard-deviation range for HURN extends from approximately $75.79 on the downside to $106.71 on the upside. A HURN iron condor is a delta-neutral premium-collection structure that pays off when HURN 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 HURN IV rank near 62.35% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on HURN should anchor more to the directional view and the expected-move geometry. As a Industrials name, HURN options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to HURN-specific events.
HURN 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. HURN positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move HURN alongside the broader basket even when HURN-specific fundamentals are unchanged. Short-premium structures like a iron condor on HURN carry tail risk when realized volatility exceeds the implied move; review historical HURN earnings reactions and macro stress periods before sizing. Always rebuild the position from current HURN chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on HURN?
- A iron condor on HURN is the iron condor strategy applied to HURN (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 HURN stock trading near $91.25, the strikes shown on this page are snapped to the nearest listed HURN chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are HURN 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 HURN iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 59.10%), the computed maximum profit is $217.50 per contract and the computed maximum loss is -$282.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a HURN iron condor?
- The breakeven for the HURN iron condor priced on this page is roughly $82.83 and $97.18 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 HURN market-implied 1-standard-deviation expected move is approximately 16.94%; 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 HURN?
- Iron condors on HURN are a delta-neutral premium-collection structure that profits if HURN stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current HURN implied volatility affect this iron condor?
- HURN ATM IV is at 59.10% with IV rank near 62.35%, 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.