MKSI Iron Condor Strategy
MKSI (MKS Inc.), in the Technology sector, (Hardware, Equipment & Parts industry), listed on NASDAQ.
MKS Inc. provides instruments, systems, subsystems, and process control solutions that measure, monitor, deliver, analyze, power, and control critical parameters of manufacturing processes worldwide. Its Vacuum & Analysis segment offers pressure and vacuum control solutions, including direct and indirect pressure measurement; materials delivery solutions comprising flow and valve technologies, as well as integrated pressure measurement and control subsystems, which provide customers with precise control capabilities; power solutions products, such as microwave, power delivery systems, radio frequency matching networks, and metrology products used in providing energy to etching, stripping, and deposition processes; and plasma and reactive gas products. Its Light & Motion segment offers laser products, such as continuous wave and pulsed nanosecond, diode and diode-pumped solid-state, and fiber laser technologies; and photonics products comprising motion control, optical tables and vibration isolation systems, photonic instruments, optics and optical assemblies, opto-mechanical components, temperature sensing products for wafer fabrication systems, and laser and LED measurement products, including laser power and energy meters, laser beam profilers, and optical and photonic subsystems. Its Equipment & Solutions segment provides laser-based systems for printed circuit board (PCB) manufacturing, including flexible interconnect PCB processing systems and high-density interconnect solutions for rigid PCB manufacturing and substrate processing, and multi-layer ceramic capacitor test systems. It serves semiconductor, industrial technologies, life and health sciences, research, and defense markets. It sells its products and services through its direct sales organization, independent distributors, and sales representatives, as well as through its websites and product catalogs.
MKSI (MKS Inc.) trades in the Technology sector, specifically Hardware, Equipment & Parts, with a market capitalization of approximately $21.43B, a trailing P/E of 65.40, a beta of 1.97 versus the broader market, a 52-week range of 80.22-326.84, average daily share volume of 1.3M, a public-listing history dating back to 1999, approximately 10K full-time employees. These structural characteristics shape how MKSI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.97 indicates MKSI has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. The trailing P/E of 65.40 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. MKSI pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on MKSI?
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 MKSI snapshot
As of May 15, 2026, spot at $304.23, ATM IV 62.60%, IV rank 47.26%, expected move 17.95%. The iron condor on MKSI 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 MKSI specifically: MKSI IV at 62.60% is mid-range versus its 1-year history, so the credit collected on a MKSI iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 17.95% (roughly $54.60 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 MKSI expiries trade a higher absolute premium for lower per-day decay. Position sizing on MKSI should anchor to the underlying notional of $304.23 per share and to the trader's directional view on MKSI stock.
MKSI iron condor setup
The MKSI 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 MKSI near $304.23, the first option leg uses a $320.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed MKSI 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 MKSI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $320.00 | $16.45 |
| Buy 1 | Call | $330.00 | $12.75 |
| Sell 1 | Put | $290.00 | $16.50 |
| Buy 1 | Put | $270.00 | $9.55 |
MKSI iron condor risk and reward
- Net Premium / Debit
- +$1,065.00
- Max Profit (per contract)
- $1,065.00
- Max Loss (per contract)
- -$935.00
- Breakeven(s)
- $279.35
- Risk / Reward Ratio
- 1.139
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.
MKSI iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on MKSI. 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% | -$935.00 |
| $67.28 | -77.9% | -$935.00 |
| $134.54 | -55.8% | -$935.00 |
| $201.81 | -33.7% | -$935.00 |
| $269.07 | -11.6% | -$935.00 |
| $336.34 | +10.6% | +$65.00 |
| $403.60 | +32.7% | +$65.00 |
| $470.87 | +54.8% | +$65.00 |
| $538.14 | +76.9% | +$65.00 |
| $605.40 | +99.0% | +$65.00 |
When traders use iron condor on MKSI
Iron condors on MKSI are a delta-neutral premium-collection structure that profits if MKSI stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
MKSI thesis for this iron condor
The market-implied 1-standard-deviation range for MKSI extends from approximately $249.63 on the downside to $358.83 on the upside. A MKSI iron condor is a delta-neutral premium-collection structure that pays off when MKSI 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 MKSI IV rank near 47.26% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on MKSI should anchor more to the directional view and the expected-move geometry. As a Technology name, MKSI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to MKSI-specific events.
MKSI 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. MKSI positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move MKSI alongside the broader basket even when MKSI-specific fundamentals are unchanged. Short-premium structures like a iron condor on MKSI carry tail risk when realized volatility exceeds the implied move; review historical MKSI earnings reactions and macro stress periods before sizing. Always rebuild the position from current MKSI chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on MKSI?
- A iron condor on MKSI is the iron condor strategy applied to MKSI (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 MKSI stock trading near $304.23, the strikes shown on this page are snapped to the nearest listed MKSI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are MKSI 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 MKSI iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 62.60%), the computed maximum profit is $1,065.00 per contract and the computed maximum loss is -$935.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a MKSI iron condor?
- The breakeven for the MKSI iron condor priced on this page is roughly $279.35 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 MKSI market-implied 1-standard-deviation expected move is approximately 17.95%; 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 MKSI?
- Iron condors on MKSI are a delta-neutral premium-collection structure that profits if MKSI stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current MKSI implied volatility affect this iron condor?
- MKSI ATM IV is at 62.60% with IV rank near 47.26%, 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.