JBHT Iron Condor Strategy
JBHT (J.B. Hunt Transport Services, Inc.), in the Industrials sector, (Integrated Freight & Logistics industry), listed on NASDAQ.
J.B. Hunt Transport Services, Inc. provides surface transportation, delivery, and logistic services in North America. It operates through five segments: Intermodal (JBI), Dedicated Contract Services (DCS), Integrated Capacity Solutions (ICS), Final Mile Services (FMS), and Truckload (JBT). The JBI segment offers intermodal freight solutions. It operates 104,973 pieces of company-owned trailing equipment; owns and maintains its chassis fleet of 85,649 units; and manages a fleet of 5,612 company-owned tractors, 582 independent contractor trucks, and 6,943 company drivers. The DCS segment designs, develops, and executes supply chain solutions that support various transportation networks.
JBHT (J.B. Hunt Transport Services, Inc.) trades in the Industrials sector, specifically Integrated Freight & Logistics, with a market capitalization of approximately $22.42B, a trailing P/E of 36.39, a beta of 1.29 versus the broader market, a 52-week range of 130.12-256.18, average daily share volume of 908K, a public-listing history dating back to 1983, approximately 34K full-time employees. These structural characteristics shape how JBHT stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.29 places JBHT roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 36.39 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. JBHT pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on JBHT?
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 JBHT snapshot
As of May 15, 2026, spot at $262.33, ATM IV 40.10%, IV rank 18.78%, expected move 11.50%. The iron condor on JBHT 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 JBHT specifically: JBHT IV at 40.10% is on the cheap side of its 1-year range, which means a premium-selling JBHT iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 11.50% (roughly $30.16 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 JBHT expiries trade a higher absolute premium for lower per-day decay. Position sizing on JBHT should anchor to the underlying notional of $262.33 per share and to the trader's directional view on JBHT stock.
JBHT iron condor setup
The JBHT 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 JBHT near $262.33, the first option leg uses a $280.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed JBHT 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 JBHT shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $280.00 | $5.65 |
| Buy 1 | Call | $290.00 | $3.10 |
| Sell 1 | Put | $250.00 | $7.55 |
| Buy 1 | Put | $240.00 | $4.60 |
JBHT iron condor risk and reward
- Net Premium / Debit
- +$550.00
- Max Profit (per contract)
- $550.00
- Max Loss (per contract)
- -$450.00
- Breakeven(s)
- $244.50, $285.50
- Risk / Reward Ratio
- 1.222
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.
JBHT iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on JBHT. 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% | -$450.00 |
| $58.01 | -77.9% | -$450.00 |
| $116.01 | -55.8% | -$450.00 |
| $174.01 | -33.7% | -$450.00 |
| $232.02 | -11.6% | -$450.00 |
| $290.02 | +10.6% | -$450.00 |
| $348.02 | +32.7% | -$450.00 |
| $406.02 | +54.8% | -$450.00 |
| $464.02 | +76.9% | -$450.00 |
| $522.02 | +99.0% | -$450.00 |
When traders use iron condor on JBHT
Iron condors on JBHT are a delta-neutral premium-collection structure that profits if JBHT stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
JBHT thesis for this iron condor
The market-implied 1-standard-deviation range for JBHT extends from approximately $232.17 on the downside to $292.49 on the upside. A JBHT iron condor is a delta-neutral premium-collection structure that pays off when JBHT 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 JBHT IV rank near 18.78% 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 JBHT at 40.10%. As a Industrials name, JBHT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to JBHT-specific events.
JBHT 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. JBHT positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move JBHT alongside the broader basket even when JBHT-specific fundamentals are unchanged. Short-premium structures like a iron condor on JBHT carry tail risk when realized volatility exceeds the implied move; review historical JBHT earnings reactions and macro stress periods before sizing. Always rebuild the position from current JBHT chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on JBHT?
- A iron condor on JBHT is the iron condor strategy applied to JBHT (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 JBHT stock trading near $262.33, the strikes shown on this page are snapped to the nearest listed JBHT chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are JBHT 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 JBHT iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 40.10%), the computed maximum profit is $550.00 per contract and the computed maximum loss is -$450.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a JBHT iron condor?
- The breakeven for the JBHT iron condor priced on this page is roughly $244.50 and $285.50 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 JBHT market-implied 1-standard-deviation expected move is approximately 11.50%; 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 JBHT?
- Iron condors on JBHT are a delta-neutral premium-collection structure that profits if JBHT stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current JBHT implied volatility affect this iron condor?
- JBHT ATM IV is at 40.10% with IV rank near 18.78%, 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.