How are MGNI 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 MGNI iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 68.10%), the computed maximum profit is $80.00 per contract and the computed maximum loss is -$20.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a MGNI iron condor?

The breakeven for the MGNI iron condor priced on this page is roughly $17.20 and $20.80 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 MGNI market-implied 1-standard-deviation expected move is approximately 19.52%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current MGNI implied volatility affect this iron condor?

MGNI ATM IV is at 68.10% with IV rank near 33.66%, 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.

MGNI Iron Condor Strategy

MGNI (Magnite, Inc.), in the Communication Services sector, (Advertising Agencies industry), listed on NASDAQ.

Magnite, Inc. manages an independent, global platform dedicated to the digital advertising marketplace. This sophisticated system furnishes publishers—entities controlling digital content such as connected TV channels, mobile applications, and websites—with the necessary applications and utilities to oversee and monetize their ad inventory. Concurrently, it delivers services and tools for advertising buyers, including advertisers, agencies, agency trading desks, and demand-side platforms, enabling them to procure digital ad space. The company employs sales teams operating from various international locations to market its advanced technological solutions to both buying and selling parties. Formed in 2007, the enterprise was formerly known as The Rubicon Project, Inc. before rebranding as Magnite, Inc. in July 2020. Its corporate headquarters are located in New York, New York.

MGNI (Magnite, Inc.) trades in the Communication Services sector, specifically Advertising Agencies, with a market capitalization of approximately $2.68B, a trailing P/E of 16.95, a beta of 2.31 versus the broader market, a 52-week range of 10.82-26.65, average daily share volume of 2.8M, a public-listing history dating back to 2014, approximately 905 full-time employees. These structural characteristics shape how MGNI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 2.31 indicates MGNI 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 MGNI?

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 MGNI snapshot

As of June 29, 2026, spot at $19.16, ATM IV 68.10%, IV rank 33.66%, expected move 19.52%. The iron condor on MGNI 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 18-day expiry.

Why this iron condor structure on MGNI specifically: MGNI IV at 68.10% is mid-range versus its 1-year history, so the credit collected on a MGNI iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 19.52% (roughly $3.74 on the underlying). The 18-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated MGNI expiries trade a higher absolute premium for lower per-day decay. Position sizing on MGNI should anchor to the underlying notional of $19.16 per share and to the trader's directional view on MGNI stock.

MGNI iron condor setup

The MGNI 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 MGNI near $19.16, the first option leg uses a $20.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed MGNI chain at a 18-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 MGNI shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$20.00	$0.95
Buy 1	Call	$21.00	$0.53
Sell 1	Put	$18.00	$0.65
Buy 1	Put	$17.00	$0.28

MGNI iron condor risk and reward

Net Premium / Debit: +$80.00
Max Profit (per contract): $80.00
Max Loss (per contract): -$20.00
Breakeven(s): $17.20, $20.80
Risk / Reward Ratio: 4.000

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.

MGNI iron condor payoff curve

Modeled P&L at expiration across a range of underlying prices for the iron condor on MGNI. 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	-99.9%	-$20.00
$4.25	-77.8%	-$20.00
$8.48	-55.7%	-$20.00
$12.72	-33.6%	-$20.00
$16.95	-11.5%	-$20.00
$21.19	+10.6%	-$20.00
$25.42	+32.7%	-$20.00
$29.66	+54.8%	-$20.00
$33.89	+76.9%	-$20.00
$38.13	+99.0%	-$20.00

When traders use iron condor on MGNI

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

MGNI thesis for this iron condor

The market-implied 1-standard-deviation range for MGNI extends from approximately $15.42 on the downside to $22.90 on the upside. A MGNI iron condor is a delta-neutral premium-collection structure that pays off when MGNI 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 MGNI IV rank near 33.66% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on MGNI should anchor more to the directional view and the expected-move geometry. As a Communication Services name, MGNI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to MGNI-specific events.

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

Frequently asked questions

What is a iron condor on MGNI?: A iron condor on MGNI is the iron condor strategy applied to MGNI (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 MGNI stock trading near $19.16, the strikes shown on this page are snapped to the nearest listed MGNI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are MGNI 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 MGNI iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 68.10%), the computed maximum profit is $80.00 per contract and the computed maximum loss is -$20.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a MGNI iron condor?: The breakeven for the MGNI iron condor priced on this page is roughly $17.20 and $20.80 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 MGNI market-implied 1-standard-deviation expected move is approximately 19.52%; 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 MGNI?: Iron condors on MGNI are a delta-neutral premium-collection structure that profits if MGNI stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
How does current MGNI implied volatility affect this iron condor?: MGNI ATM IV is at 68.10% with IV rank near 33.66%, 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.