MTSI Iron Condor Strategy
MTSI (MACOM Technology Solutions Holdings, Inc.), in the Technology sector, (Semiconductors industry), listed on NASDAQ.
MACOM Technology Solutions Holdings, Inc., along with its affiliated entities, specializes in the design and production of sophisticated analog semiconductor solutions. These critical components are integral to both wireless and wired connectivity systems, spanning the entire electromagnetic spectrum from radio frequency (RF) to lightwave, including microwave and millimeter wave bands. The company operates globally, with a significant presence in the United States, China, the broader Asia Pacific region, and other international markets. Their diverse product portfolio includes a range of standard and custom-engineered devices, such as integrated circuits, multi-chip modules, diodes, amplifiers, various types of switches (including limiters), as well as both passive and active discrete components, and complete subsystems. These essential semiconductor products serve as fundamental building blocks within a wide array of electronic systems, including wireless base stations, advanced optical networking infrastructure, radar systems, medical equipment, and precision test and measurement instruments. MACOM caters to a broad spectrum of key markets: Telecommunications: Their solutions underpin carrier infrastructure for long-haul and metropolitan networks, 5G deployments, and fiber-to-the-X/passive optical network (PON) solutions.
MTSI (MACOM Technology Solutions Holdings, Inc.) trades in the Technology sector, specifically Semiconductors, with a market capitalization of approximately $28.17B, a trailing P/E of 156.76, a beta of 1.66 versus the broader market, a 52-week range of 118.16-418.9, average daily share volume of 1.4M, a public-listing history dating back to 2012, approximately 2K full-time employees. These structural characteristics shape how MTSI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.66 indicates MTSI 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 156.76 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.
What is a iron condor on MTSI?
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 MTSI snapshot
As of June 29, 2026, spot at $373.27, ATM IV 80.50%, IV rank 49.31%, expected move 23.08%. The iron condor on MTSI 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 MTSI specifically: MTSI IV at 80.50% is mid-range versus its 1-year history, so the credit collected on a MTSI iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 23.08% (roughly $86.15 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 MTSI expiries trade a higher absolute premium for lower per-day decay. Position sizing on MTSI should anchor to the underlying notional of $373.27 per share and to the trader's directional view on MTSI stock.
MTSI iron condor setup
The MTSI 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 MTSI near $373.27, the first option leg uses a $390.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed MTSI 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 MTSI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $390.00 | $18.90 |
| Buy 1 | Call | $410.00 | $11.20 |
| Sell 1 | Put | $350.00 | $16.45 |
| Buy 1 | Put | $340.00 | $12.95 |
MTSI iron condor risk and reward
- Net Premium / Debit
- +$1,120.00
- Max Profit (per contract)
- $1,120.00
- Max Loss (per contract)
- -$880.00
- Breakeven(s)
- $401.20
- Risk / Reward Ratio
- 1.273
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.
MTSI iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on MTSI. 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% | +$120.00 |
| $82.54 | -77.9% | +$120.00 |
| $165.07 | -55.8% | +$120.00 |
| $247.60 | -33.7% | +$120.00 |
| $330.13 | -11.6% | +$120.00 |
| $412.66 | +10.6% | -$880.00 |
| $495.20 | +32.7% | -$880.00 |
| $577.73 | +54.8% | -$880.00 |
| $660.26 | +76.9% | -$880.00 |
| $742.79 | +99.0% | -$880.00 |
When traders use iron condor on MTSI
Iron condors on MTSI are a delta-neutral premium-collection structure that profits if MTSI stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
MTSI thesis for this iron condor
The market-implied 1-standard-deviation range for MTSI extends from approximately $287.12 on the downside to $459.42 on the upside. A MTSI iron condor is a delta-neutral premium-collection structure that pays off when MTSI 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 MTSI IV rank near 49.31% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on MTSI should anchor more to the directional view and the expected-move geometry. As a Technology name, MTSI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to MTSI-specific events.
MTSI 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. MTSI positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move MTSI alongside the broader basket even when MTSI-specific fundamentals are unchanged. Short-premium structures like a iron condor on MTSI carry tail risk when realized volatility exceeds the implied move; review historical MTSI earnings reactions and macro stress periods before sizing. Always rebuild the position from current MTSI chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on MTSI?
- A iron condor on MTSI is the iron condor strategy applied to MTSI (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 MTSI stock trading near $373.27, the strikes shown on this page are snapped to the nearest listed MTSI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are MTSI 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 MTSI iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 80.50%), the computed maximum profit is $1,120.00 per contract and the computed maximum loss is -$880.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a MTSI iron condor?
- The breakeven for the MTSI iron condor priced on this page is roughly $401.20 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 MTSI market-implied 1-standard-deviation expected move is approximately 23.08%; 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 MTSI?
- Iron condors on MTSI are a delta-neutral premium-collection structure that profits if MTSI stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current MTSI implied volatility affect this iron condor?
- MTSI ATM IV is at 80.50% with IV rank near 49.31%, 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.