LTRX Iron Condor Strategy
LTRX (Lantronix, Inc.), in the Technology sector, (Communication Equipment industry), listed on NASDAQ.
Lantronix, Inc. is a technology company specializing in the delivery of hardware, software-as-a-service (SaaS), and professional engineering services. Its solutions are designed to support edge computing, the Internet of Things (IoT), and remote environment management (REM) for clients across the Americas, Europe, the Middle East, Africa, and the Asia Pacific region. Within its IoT portfolio, Lantronix offers a diverse range of products, categorized broadly into Connectivity, Compute, and Telematics solutions. Its IoT Connectivity offerings facilitate robust wired and wireless connections, significantly boosting the functionality and effectiveness of contemporary electronic systems. These solutions encompass secure network access, Power over Ethernet (PoE) for device power, application hosting, and essential protocol and media conversion, ensuring secure and efficient operation for geographically dispersed IoT implementations. The IoT Compute segment delivers processing power tailored to customer demands for advanced data transformation, computer vision, machine learning, augmented/virtual reality (AR/VR) applications, as well as audio/video aggregation, distribution, and bespoke software solutions.
LTRX (Lantronix, Inc.) trades in the Technology sector, specifically Communication Equipment, with a market capitalization of approximately $275.2M, a beta of 1.68 versus the broader market, a 52-week range of 2.86-8.75, average daily share volume of 1.0M, a public-listing history dating back to 2000, approximately 352 full-time employees. These structural characteristics shape how LTRX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.68 indicates LTRX has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.
What is a iron condor on LTRX?
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.
LTRX snapshot
As of August 14, 2026, spot at $6.50, ATM IV 88.80%, IV rank 17.21%, expected move 25.46%. The iron condor on LTRX below is built from the 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 LTRX specifically: LTRX IV at 88.80% is on the cheap side of its 1-year range, which means a premium-selling LTRX iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 25.46% (roughly $1.65 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 LTRX expiries trade a higher absolute premium for lower per-day decay. Position sizing on LTRX should anchor to the underlying notional of $6.50 per share and to the trader's directional view on LTRX stock.
LTRX iron condor setup
The LTRX 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 LTRX at $6.50 on that close, the first option leg uses a $6.83 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed LTRX 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 LTRX shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $6.83 | N/A |
| Buy 1 | Call | $7.15 | N/A |
| Sell 1 | Put | $6.18 | N/A |
| Buy 1 | Put | $5.85 | N/A |
LTRX iron condor risk and reward
- Net Premium / Debit
- N/A
- Max Profit (per contract)
- Unbounded
- Max Loss (per contract)
- Unbounded
- Breakeven(s)
- None on modeled curve
- Risk / Reward Ratio
- N/A
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.
LTRX iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on LTRX. 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.
When traders use iron condor on LTRX
Iron condors on LTRX are a delta-neutral premium-collection structure that profits if LTRX stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
LTRX thesis for this iron condor
The market-implied 1-standard-deviation range for LTRX extends from approximately $4.85 on the downside to $8.15 on the upside. A LTRX iron condor is a delta-neutral premium-collection structure that pays off when LTRX 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 LTRX IV rank near 17.21% 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 LTRX at 88.80%. As a Technology name, LTRX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to LTRX-specific events.
LTRX 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. LTRX positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move LTRX alongside the broader basket even when LTRX-specific fundamentals are unchanged. Short-premium structures like a iron condor on LTRX carry tail risk when realized volatility exceeds the implied move; review historical LTRX earnings reactions and macro stress periods before sizing. Always rebuild the position from current LTRX chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on LTRX?
- A iron condor on LTRX is the iron condor strategy applied to LTRX (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 LTRX stock at $6.50 on the most recent close, the strikes shown on this page are snapped to the nearest listed LTRX chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are LTRX 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 LTRX iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 88.80%), the computed maximum profit is unbounded per contract and the computed maximum loss is unbounded per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a LTRX iron condor?
- The breakeven for the LTRX iron condor priced on this page is no defined breakeven on the modeled curve at expiration, derived from the 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 LTRX market-implied 1-standard-deviation expected move in the same options snapshot is approximately 25.46%; 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 LTRX?
- Iron condors on LTRX are a delta-neutral premium-collection structure that profits if LTRX stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current LTRX implied volatility affect this iron condor?
- LTRX ATM IV is at 88.80% with IV rank near 17.21%, 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.