How are MSI 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 MSI iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 26.20%), the computed maximum profit is $432.50 per contract and the computed maximum loss is -$1,567.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a MSI iron condor?

The breakeven for the MSI iron condor priced on this page is roughly $385.68 and $434.33 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 MSI market-implied 1-standard-deviation expected move is approximately 7.51%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current MSI implied volatility affect this iron condor?

MSI ATM IV is at 26.20% with IV rank near 31.05%, 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.

MSI Iron Condor Strategy

MSI (Motorola Solutions, Inc.), in the Technology sector, (Communication Equipment industry), listed on NYSE.

Motorola Solutions, Inc. delivers essential communication and data analysis capabilities vital for critical operations across the United States, the United Kingdom, Canada, and other international markets. The company structures its extensive operations into two primary segments: Products and Systems Integration, and Software and Services. The Products and Systems Integration division offers a comprehensive suite of infrastructure, various devices, accessories, and video security solutions, alongside expert services for the deployment and seamless integration of systems, hardware, software, and specialized applications. This segment caters to governmental bodies, public safety agencies, and commercial enterprises that rely on private communication networks, advanced video security systems, and robust tools for managing mobile workforces. Their product portfolio spans land mobile radio (LMR) communication equipment, such as portable and vehicle-mounted two-way radios, as well as video security and access control hardware, including fixed and mobile cameras. It also encompasses core radio network software and central processing systems, base stations, consoles, and repeaters, in addition to sophisticated video analytics, network video management hardware and software, and access control solutions.

MSI (Motorola Solutions, Inc.) trades in the Technology sector, specifically Communication Equipment, with a market capitalization of approximately $66.88B, a trailing P/E of 31.96, a beta of 0.89 versus the broader market, a 52-week range of 359.36-492.22, average daily share volume of 1.1M, a public-listing history dating back to 1980, approximately 21K full-time employees. These structural characteristics shape how MSI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.89 places MSI roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. MSI pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a iron condor on MSI?

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 MSI snapshot

As of June 30, 2026, spot at $413.48, ATM IV 26.20%, IV rank 31.05%, expected move 7.51%. The iron condor on MSI 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 17-day expiry.

Why this iron condor structure on MSI specifically: MSI IV at 26.20% is mid-range versus its 1-year history, so the credit collected on a MSI iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 7.51% (roughly $31.06 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated MSI expiries trade a higher absolute premium for lower per-day decay. Position sizing on MSI should anchor to the underlying notional of $413.48 per share and to the trader's directional view on MSI stock.

MSI iron condor setup

The MSI 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 MSI near $413.48, the first option leg uses a $430.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed MSI chain at a 17-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 MSI shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$430.00	$4.05
Buy 1	Call	$450.00	$1.10
Sell 1	Put	$390.00	$2.38
Buy 1	Put	$370.00	$1.00

MSI iron condor risk and reward

Net Premium / Debit: +$432.50
Max Profit (per contract): $432.50
Max Loss (per contract): -$1,567.50
Breakeven(s): $385.68, $434.33
Risk / Reward Ratio: 0.276

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.

MSI iron condor payoff curve

Modeled P&L at expiration across a range of underlying prices for the iron condor on MSI. 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%	-$1,567.50
$91.43	-77.9%	-$1,567.50
$182.85	-55.8%	-$1,567.50
$274.27	-33.7%	-$1,567.50
$365.70	-11.6%	-$1,567.50
$457.12	+10.6%	-$1,567.50
$548.54	+32.7%	-$1,567.50
$639.96	+54.8%	-$1,567.50
$731.38	+76.9%	-$1,567.50
$822.80	+99.0%	-$1,567.50

When traders use iron condor on MSI

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

MSI thesis for this iron condor

The market-implied 1-standard-deviation range for MSI extends from approximately $382.42 on the downside to $444.54 on the upside. A MSI iron condor is a delta-neutral premium-collection structure that pays off when MSI 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 MSI IV rank near 31.05% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on MSI should anchor more to the directional view and the expected-move geometry. As a Technology name, MSI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to MSI-specific events.

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

Frequently asked questions

What is a iron condor on MSI?: A iron condor on MSI is the iron condor strategy applied to MSI (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 MSI stock trading near $413.48, the strikes shown on this page are snapped to the nearest listed MSI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are MSI 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 MSI iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 26.20%), the computed maximum profit is $432.50 per contract and the computed maximum loss is -$1,567.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a MSI iron condor?: The breakeven for the MSI iron condor priced on this page is roughly $385.68 and $434.33 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 MSI market-implied 1-standard-deviation expected move is approximately 7.51%; 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 MSI?: Iron condors on MSI are a delta-neutral premium-collection structure that profits if MSI stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
How does current MSI implied volatility affect this iron condor?: MSI ATM IV is at 26.20% with IV rank near 31.05%, 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.