INOD Iron Condor Strategy
INOD (Innodata Inc.), in the Technology sector, (Information Technology Services industry), listed on NASDAQ.
Innodata Inc. is a global enterprise specializing in data engineering, with operations spanning the United States, the United Kingdom, the Netherlands, Canada, and other international locations. The firm conducts its business across three distinct divisions: Digital Data Solutions (DDS), Synodex, and Agility. Its Digital Data Solutions (DDS) division furnishes clients with AI-powered software platforms and outsourced services. These offerings cater to businesses needing data for the instruction of artificial intelligence (AI) and machine learning (ML) algorithms. DDS also delivers AI-driven digital transformation strategies, assisting organizations in leveraging AI/ML to extract critical insights from textual information. Furthermore, DDS provides a comprehensive suite of data engineering support functions, encompassing activities such as data annotation, transformation, curation, hygiene, consolidation, compliance, and master data management.
INOD (Innodata Inc.) trades in the Technology sector, specifically Information Technology Services, with a market capitalization of approximately $2.41B, a trailing P/E of 61.36, a beta of 2.84 versus the broader market, a 52-week range of 34.23-125.14, average daily share volume of 1.9M, a public-listing history dating back to 1993, approximately 7K full-time employees. These structural characteristics shape how INOD stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.84 indicates INOD has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. The trailing P/E of 61.36 is on the rich side, which tends to correlate with higher earnings-window IV expansion as the market debates whether forward growth supports the multiple.
What is a iron condor on INOD?
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 INOD snapshot
As of June 29, 2026, spot at $77.30, ATM IV 98.90%, IV rank 45.14%, expected move 28.35%. The iron condor on INOD 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 32-day expiry.
Why this iron condor structure on INOD specifically: INOD IV at 98.90% is mid-range versus its 1-year history, so the credit collected on a INOD iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 28.35% (roughly $21.92 on the underlying). The 32-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated INOD expiries trade a higher absolute premium for lower per-day decay. Position sizing on INOD should anchor to the underlying notional of $77.30 per share and to the trader's directional view on INOD stock.
INOD iron condor setup
The INOD 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 INOD near $77.30, the first option leg uses a $81.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed INOD chain at a 32-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 INOD shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $81.00 | $7.40 |
| Buy 1 | Call | $85.00 | $5.85 |
| Sell 1 | Put | $73.00 | $7.10 |
| Buy 1 | Put | $70.00 | $5.70 |
INOD iron condor risk and reward
- Net Premium / Debit
- +$295.00
- Max Profit (per contract)
- $295.00
- Max Loss (per contract)
- -$105.00
- Breakeven(s)
- $69.98, $83.95
- Risk / Reward Ratio
- 2.810
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.
INOD iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on INOD. 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% | -$5.00 |
| $17.10 | -77.9% | -$5.00 |
| $34.19 | -55.8% | -$5.00 |
| $51.28 | -33.7% | -$5.00 |
| $68.37 | -11.6% | -$5.00 |
| $85.46 | +10.6% | -$105.00 |
| $102.55 | +32.7% | -$105.00 |
| $119.64 | +54.8% | -$105.00 |
| $136.73 | +76.9% | -$105.00 |
| $153.82 | +99.0% | -$105.00 |
When traders use iron condor on INOD
Iron condors on INOD are a delta-neutral premium-collection structure that profits if INOD stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
INOD thesis for this iron condor
The market-implied 1-standard-deviation range for INOD extends from approximately $55.38 on the downside to $99.22 on the upside. A INOD iron condor is a delta-neutral premium-collection structure that pays off when INOD 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 INOD IV rank near 45.14% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on INOD should anchor more to the directional view and the expected-move geometry. As a Technology name, INOD options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to INOD-specific events.
INOD 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. INOD positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move INOD alongside the broader basket even when INOD-specific fundamentals are unchanged. Short-premium structures like a iron condor on INOD carry tail risk when realized volatility exceeds the implied move; review historical INOD earnings reactions and macro stress periods before sizing. Always rebuild the position from current INOD chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on INOD?
- A iron condor on INOD is the iron condor strategy applied to INOD (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 INOD stock trading near $77.30, the strikes shown on this page are snapped to the nearest listed INOD chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are INOD 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 INOD iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 98.90%), the computed maximum profit is $295.00 per contract and the computed maximum loss is -$105.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a INOD iron condor?
- The breakeven for the INOD iron condor priced on this page is roughly $69.98 and $83.95 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 INOD market-implied 1-standard-deviation expected move is approximately 28.35%; 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 INOD?
- Iron condors on INOD are a delta-neutral premium-collection structure that profits if INOD stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current INOD implied volatility affect this iron condor?
- INOD ATM IV is at 98.90% with IV rank near 45.14%, 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.