MNDY Iron Condor Strategy
MNDY (monday.com Ltd.), in the Technology sector, (Software - Application industry), listed on NASDAQ.
monday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, and internationally. It provides Work OS, a cloud-based visual work operating system that consists of modular building blocks used and assembled to create software applications and work management tools. The company also offers product solutions for marketing, CRM, project management, software development, and other fields; and business development, presale, and customer success services. It serves organizations, educational or government institution, and distinct business unit of an organization. The company was formerly known as DaPulse Labs Ltd. and changed its name to monday.com Ltd. in November 2017. monday.com Ltd. was incorporated in 2012 and is headquartered in Tel Aviv-Yafo, Israel.
MNDY (monday.com Ltd.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $3.49B, a trailing P/E of 27.24, a beta of 1.16 versus the broader market, a 52-week range of 57.5-316.98, average daily share volume of 1.9M, a public-listing history dating back to 2021, approximately 3K full-time employees. These structural characteristics shape how MNDY stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.16 places MNDY roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.
What is a iron condor on MNDY?
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 MNDY snapshot
As of May 15, 2026, spot at $71.52, ATM IV 67.90%, IV rank 22.10%, expected move 19.47%. The iron condor on MNDY 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 98-day expiry.
Why this iron condor structure on MNDY specifically: MNDY IV at 67.90% is on the cheap side of its 1-year range, which means a premium-selling MNDY iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 19.47% (roughly $13.92 on the underlying). The 98-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated MNDY expiries trade a higher absolute premium for lower per-day decay. Position sizing on MNDY should anchor to the underlying notional of $71.52 per share and to the trader's directional view on MNDY stock.
MNDY iron condor setup
The MNDY 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 MNDY near $71.52, the first option leg uses a $75.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed MNDY chain at a 98-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 MNDY shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $75.00 | $10.15 |
| Buy 1 | Call | $80.00 | $8.30 |
| Sell 1 | Put | $70.00 | $9.95 |
| Buy 1 | Put | $65.00 | $7.70 |
MNDY iron condor risk and reward
- Net Premium / Debit
- +$410.00
- Max Profit (per contract)
- $410.00
- Max Loss (per contract)
- -$90.00
- Breakeven(s)
- $65.90, $79.10
- Risk / Reward Ratio
- 4.556
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.
MNDY iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on MNDY. 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% | -$90.00 |
| $15.82 | -77.9% | -$90.00 |
| $31.63 | -55.8% | -$90.00 |
| $47.45 | -33.7% | -$90.00 |
| $63.26 | -11.5% | -$90.00 |
| $79.07 | +10.6% | +$2.82 |
| $94.88 | +32.7% | -$90.00 |
| $110.70 | +54.8% | -$90.00 |
| $126.51 | +76.9% | -$90.00 |
| $142.32 | +99.0% | -$90.00 |
When traders use iron condor on MNDY
Iron condors on MNDY are a delta-neutral premium-collection structure that profits if MNDY stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
MNDY thesis for this iron condor
The market-implied 1-standard-deviation range for MNDY extends from approximately $57.60 on the downside to $85.44 on the upside. A MNDY iron condor is a delta-neutral premium-collection structure that pays off when MNDY 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 MNDY IV rank near 22.10% 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 MNDY at 67.90%. As a Technology name, MNDY options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to MNDY-specific events.
MNDY 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. MNDY positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move MNDY alongside the broader basket even when MNDY-specific fundamentals are unchanged. Short-premium structures like a iron condor on MNDY carry tail risk when realized volatility exceeds the implied move; review historical MNDY earnings reactions and macro stress periods before sizing. Always rebuild the position from current MNDY chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on MNDY?
- A iron condor on MNDY is the iron condor strategy applied to MNDY (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 MNDY stock trading near $71.52, the strikes shown on this page are snapped to the nearest listed MNDY chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are MNDY 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 MNDY iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 67.90%), the computed maximum profit is $410.00 per contract and the computed maximum loss is -$90.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a MNDY iron condor?
- The breakeven for the MNDY iron condor priced on this page is roughly $65.90 and $79.10 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 MNDY market-implied 1-standard-deviation expected move is approximately 19.47%; 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 MNDY?
- Iron condors on MNDY are a delta-neutral premium-collection structure that profits if MNDY stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current MNDY implied volatility affect this iron condor?
- MNDY ATM IV is at 67.90% with IV rank near 22.10%, 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.