How are NEE 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 NEE iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 24.82%), the computed maximum profit is $132.50 per contract and the computed maximum loss is -$367.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a NEE iron condor?

The breakeven for the NEE iron condor priced on this page is roughly $87.68 and $99.33 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 NEE market-implied 1-standard-deviation expected move is approximately 7.11%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current NEE implied volatility affect this iron condor?

NEE ATM IV is at 24.82% with IV rank near 32.33%, 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.

NEE Iron Condor Strategy

NEE (NextEra Energy, Inc.), in the Utilities sector, (Regulated Electric industry), listed on NYSE.

NextEra Energy, Inc., through its subsidiaries, generates, transmits, distributes, and sells electric power to retail and wholesale customers in North America. The company generates electricity through wind, solar, nuclear, coal, and natural gas facilities. It also develops, constructs, and operates long-term contracted assets that consists of clean energy solutions, such as renewable generation facilities, battery storage projects, and electric transmission facilities; sells energy commodities; and owns, develops, constructs, manages and operates electric generation facilities in wholesale energy markets. As of December 31, 2021, the company had approximately 28,564 megawatts of net generating capacity; approximately 77,000 circuit miles of transmission and distribution lines; and 696 substations. It serves approximately 11 million people through approximately 5.7 million customer accounts in the east and lower west coasts of Florida. The company was formerly known as FPL Group, Inc. and changed its name to NextEra Energy, Inc. in 2010.

NEE (NextEra Energy, Inc.) trades in the Utilities sector, specifically Regulated Electric, with a market capitalization of approximately $197.79B, a trailing P/E of 24.21, a beta of 0.72 versus the broader market, a 52-week range of 63.88-98.75, average daily share volume of 9.4M, a public-listing history dating back to 2014, approximately 17K full-time employees. These structural characteristics shape how NEE stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.72 places NEE roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. NEE pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a iron condor on NEE?

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 NEE snapshot

As of May 15, 2026, spot at $93.25, ATM IV 24.82%, IV rank 32.33%, expected move 7.11%. The iron condor on NEE 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 28-day expiry.

Why this iron condor structure on NEE specifically: NEE IV at 24.82% is mid-range versus its 1-year history, so the credit collected on a NEE iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 7.11% (roughly $6.63 on the underlying). The 28-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated NEE expiries trade a higher absolute premium for lower per-day decay. Position sizing on NEE should anchor to the underlying notional of $93.25 per share and to the trader's directional view on NEE stock.

NEE iron condor setup

The NEE 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 NEE near $93.25, the first option leg uses a $98.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed NEE chain at a 28-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 NEE shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$98.00	$0.75
Buy 1	Call	$103.00	$0.23
Sell 1	Put	$89.00	$1.04
Buy 1	Put	$84.00	$0.23

NEE iron condor risk and reward

Net Premium / Debit: +$132.50
Max Profit (per contract): $132.50
Max Loss (per contract): -$367.50
Breakeven(s): $87.68, $99.33
Risk / Reward Ratio: 0.361

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.

NEE iron condor payoff curve

Modeled P&L at expiration across a range of underlying prices for the iron condor on NEE. 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%	-$367.50
$20.63	-77.9%	-$367.50
$41.24	-55.8%	-$367.50
$61.86	-33.7%	-$367.50
$82.48	-11.6%	-$367.50
$103.09	+10.6%	-$367.50
$123.71	+32.7%	-$367.50
$144.33	+54.8%	-$367.50
$164.95	+76.9%	-$367.50
$185.56	+99.0%	-$367.50

When traders use iron condor on NEE

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

NEE thesis for this iron condor

The market-implied 1-standard-deviation range for NEE extends from approximately $86.62 on the downside to $99.88 on the upside. A NEE iron condor is a delta-neutral premium-collection structure that pays off when NEE 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 NEE IV rank near 32.33% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on NEE should anchor more to the directional view and the expected-move geometry. As a Utilities name, NEE options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to NEE-specific events.

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

Frequently asked questions

What is a iron condor on NEE?: A iron condor on NEE is the iron condor strategy applied to NEE (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 NEE stock trading near $93.25, the strikes shown on this page are snapped to the nearest listed NEE chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are NEE 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 NEE iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 24.82%), the computed maximum profit is $132.50 per contract and the computed maximum loss is -$367.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a NEE iron condor?: The breakeven for the NEE iron condor priced on this page is roughly $87.68 and $99.33 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 NEE market-implied 1-standard-deviation expected move is approximately 7.11%; 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 NEE?: Iron condors on NEE are a delta-neutral premium-collection structure that profits if NEE stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
How does current NEE implied volatility affect this iron condor?: NEE ATM IV is at 24.82% with IV rank near 32.33%, 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.