How are LIN 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 LIN iron condor priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 20.20%), the computed maximum profit is $580.50 per contract and the computed maximum loss is -$1,919.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a LIN iron condor?

The breakeven for the LIN iron condor priced on this page is roughly $454.20 and $510.81 at expiration, derived from the August 14, 2026 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 LIN market-implied 1-standard-deviation expected move in the same options snapshot is approximately 5.79%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current LIN implied volatility affect this iron condor?

LIN ATM IV is at 20.20% with IV rank near 38.48%, 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.

LIN Iron Condor Strategy

LIN (Linde plc), in the Basic Materials sector, (Chemicals - Specialty industry), listed on NASDAQ.

Linde plc functions as a global industrial gas and engineering powerhouse, extending its operations throughout North and South America, Europe, the Middle East, Africa, and the Asia Pacific. The company's comprehensive product line features atmospheric gases like oxygen, nitrogen, argon, and various rare gases, alongside a diverse array of process gases such as carbon dioxide, helium, hydrogen, specialized electronic gases, and acetylene. Beyond gas supply, Linde is also adept at designing and constructing turnkey process plants. These engineering solutions serve both third-party customers and its own gas business facilities, covering types like olefin, natural gas, air separation, hydrogen, and synthesis gas plants. Linde's extensive client base spans numerous sectors, including healthcare, energy, general manufacturing, food and beverage carbonation, fiber-optics, steel production, aerospace, chemicals, and water treatment. Established in 1879, the company is headquartered in Woking, United Kingdom.

LIN (Linde plc) trades in the Basic Materials sector, specifically Chemicals - Specialty, with a market capitalization of approximately $223.32B, a trailing P/E of 30.64, a beta of 0.73 versus the broader market, a 52-week range of 387.78-548.2, average daily share volume of 2.2M, a public-listing history dating back to 1992, approximately 65K full-time employees. These structural characteristics shape how LIN stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.73 places LIN roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. LIN pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a iron condor on LIN?

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.

LIN snapshot

As of August 14, 2026, spot at $482.91, ATM IV 20.20%, IV rank 38.48%, expected move 5.79%. The iron condor on LIN below is built from the August 14, 2026 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 LIN specifically: LIN IV at 20.20% is mid-range versus its 1-year history, so the credit collected on a LIN iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 5.79% (roughly $27.97 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 LIN expiries trade a higher absolute premium for lower per-day decay. Position sizing on LIN should anchor to the underlying notional of $482.91 per share and to the trader's directional view on LIN stock.

LIN iron condor setup

The LIN iron condor below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With LIN at $482.91 on that close, the first option leg uses a $505.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed LIN 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 LIN shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$505.00	$4.45
Buy 1	Call	$530.00	$1.07
Sell 1	Put	$460.00	$3.50
Buy 1	Put	$435.00	$1.08

LIN iron condor risk and reward

Net Premium / Debit: +$580.50
Max Profit (per contract): $580.50
Max Loss (per contract): -$1,919.50
Breakeven(s): $454.20, $510.81
Risk / Reward Ratio: 0.302

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.

LIN iron condor payoff curve

Modeled P&L at expiration across a range of underlying prices for the iron condor on LIN. 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.

P&L at expiration across the modeled underlying-price range. Green shading marks profitable regions, red shading marks loss regions. Dotted purple verticals mark breakevens; the solid dark vertical marks current spot.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-100.0%	-$1,919.50
$106.78	-77.9%	-$1,919.50
$213.56	-55.8%	-$1,919.50
$320.33	-33.7%	-$1,919.50
$427.10	-11.6%	-$1,919.50
$533.87	+10.6%	-$1,919.50
$640.65	+32.7%	-$1,919.50
$747.42	+54.8%	-$1,919.50
$854.19	+76.9%	-$1,919.50
$960.97	+99.0%	-$1,919.50

When traders use iron condor on LIN

Iron condors on LIN are a delta-neutral premium-collection structure that profits if LIN stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.

LIN thesis for this iron condor

The market-implied 1-standard-deviation range for LIN extends from approximately $454.94 on the downside to $510.88 on the upside. A LIN iron condor is a delta-neutral premium-collection structure that pays off when LIN 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 LIN IV rank near 38.48% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on LIN should anchor more to the directional view and the expected-move geometry. As a Basic Materials name, LIN options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to LIN-specific events.

LIN 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. LIN positions also carry Basic Materials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move LIN alongside the broader basket even when LIN-specific fundamentals are unchanged. Short-premium structures like a iron condor on LIN carry tail risk when realized volatility exceeds the implied move; review historical LIN earnings reactions and macro stress periods before sizing. Always rebuild the position from current LIN chain quotes before placing a trade.

Frequently asked questions

What is a iron condor on LIN?: A iron condor on LIN is the iron condor strategy applied to LIN (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 LIN stock at $482.91 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed LIN chain strike and the premiums come straight from that session's bid/ask midpoint.
How are LIN 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 LIN iron condor priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 20.20%), the computed maximum profit is $580.50 per contract and the computed maximum loss is -$1,919.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a LIN iron condor?: The breakeven for the LIN iron condor priced on this page is roughly $454.20 and $510.81 at expiration, derived from the August 14, 2026 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 LIN market-implied 1-standard-deviation expected move in the same options snapshot is approximately 5.79%; 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 LIN?: Iron condors on LIN are a delta-neutral premium-collection structure that profits if LIN stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
How does current LIN implied volatility affect this iron condor?: LIN ATM IV is at 20.20% with IV rank near 38.48%, 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.