IOT Iron Condor Strategy
IOT (Samsara Inc.), in the Technology sector, (Software - Infrastructure industry), listed on NYSE.
Samsara Inc. provides solutions that connect physical operations data to its Connected Operations Cloud in the United States and internationally. The company's Connected Operations Cloud includes Data Platform, which ingests, aggregates, and enriches data from its IoT devices and has embedded capabilities for AI, workflows and analytics, alerts, API connections, and data security and privacy; and applications for video-based safety, vehicle telematics, apps and driver workflows, equipment monitoring, and site visibility. It serves customers across a range of industries, including transportation and logistics, construction, field services, utilities and energy, government, healthcare and education, manufacturing, wholesale and retail trade, and food and beverage. The company was incorporated in 2015 and is based in San Francisco, California.
IOT (Samsara Inc.) trades in the Technology sector, specifically Software - Infrastructure, with a market capitalization of approximately $15.78B, a beta of 1.28 versus the broader market, a 52-week range of 23.38-48.405, average daily share volume of 7.0M, a public-listing history dating back to 2021, approximately 4K full-time employees. These structural characteristics shape how IOT stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.28 places IOT roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.
What is a iron condor on IOT?
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 IOT snapshot
As of May 15, 2026, spot at $29.63, ATM IV 85.17%, IV rank 69.19%, expected move 24.42%. The iron condor on IOT 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 28-day expiry.
Why this iron condor structure on IOT specifically: IOT IV at 85.17% is mid-range versus its 1-year history, so the credit collected on a IOT iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 24.42% (roughly $7.24 on the underlying). The 28-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated IOT expiries trade a higher absolute premium for lower per-day decay. Position sizing on IOT should anchor to the underlying notional of $29.63 per share and to the trader's directional view on IOT stock.
IOT iron condor setup
The IOT 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 IOT near $29.63, the first option leg uses a $31.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed IOT chain at a 28-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 IOT shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $31.00 | $2.33 |
| Buy 1 | Call | $33.00 | $1.60 |
| Sell 1 | Put | $28.00 | $2.08 |
| Buy 1 | Put | $27.00 | $1.60 |
IOT iron condor risk and reward
- Net Premium / Debit
- +$120.00
- Max Profit (per contract)
- $120.00
- Max Loss (per contract)
- -$80.00
- Breakeven(s)
- $32.20
- Risk / Reward Ratio
- 1.500
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.
IOT iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on IOT. 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% | +$20.00 |
| $6.56 | -77.9% | +$20.00 |
| $13.11 | -55.8% | +$20.00 |
| $19.66 | -33.6% | +$20.00 |
| $26.21 | -11.5% | +$20.00 |
| $32.76 | +10.6% | -$56.13 |
| $39.31 | +32.7% | -$80.00 |
| $45.86 | +54.8% | -$80.00 |
| $52.41 | +76.9% | -$80.00 |
| $58.96 | +99.0% | -$80.00 |
When traders use iron condor on IOT
Iron condors on IOT are a delta-neutral premium-collection structure that profits if IOT stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
IOT thesis for this iron condor
The market-implied 1-standard-deviation range for IOT extends from approximately $22.39 on the downside to $36.87 on the upside. A IOT iron condor is a delta-neutral premium-collection structure that pays off when IOT 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 IOT IV rank near 69.19% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on IOT should anchor more to the directional view and the expected-move geometry. As a Technology name, IOT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to IOT-specific events.
IOT 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. IOT positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move IOT alongside the broader basket even when IOT-specific fundamentals are unchanged. Short-premium structures like a iron condor on IOT carry tail risk when realized volatility exceeds the implied move; review historical IOT earnings reactions and macro stress periods before sizing. Always rebuild the position from current IOT chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on IOT?
- A iron condor on IOT is the iron condor strategy applied to IOT (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 IOT stock trading near $29.63, the strikes shown on this page are snapped to the nearest listed IOT chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are IOT 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 IOT iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 85.17%), the computed maximum profit is $120.00 per contract and the computed maximum loss is -$80.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a IOT iron condor?
- The breakeven for the IOT iron condor priced on this page is roughly $32.20 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 IOT market-implied 1-standard-deviation expected move is approximately 24.42%; 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 IOT?
- Iron condors on IOT are a delta-neutral premium-collection structure that profits if IOT stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current IOT implied volatility affect this iron condor?
- IOT ATM IV is at 85.17% with IV rank near 69.19%, 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.