NFBK Iron Condor Strategy
NFBK (Northfield Bancorp, Inc.), in the Financial Services sector, (Banks - Regional industry), listed on NASDAQ.
Northfield Bancorp, Inc. acts as the holding company for Northfield Bank, providing a diverse array of financial services primarily to individual consumers and business clients. The institution offers a wide selection of deposit products, including certificates of deposit, traditional passbook and statement savings accounts, and money market accounts. Its transactional services feature negotiable order of withdrawal (NOW) accounts, alongside both interest-bearing and non-interest-bearing checking options. Furthermore, it manages individual retirement accounts (IRAs) and accepts brokered deposits. Beyond deposits, Northfield Bank extends various lending solutions. These encompass financing for multifamily and other commercial real estate properties, construction and land development projects, and general commercial and industrial loans.
NFBK (Northfield Bancorp, Inc.) trades in the Financial Services sector, specifically Banks - Regional, with a market capitalization of approximately $626.0M, a trailing P/E of 125.21, a beta of 0.71 versus the broader market, a 52-week range of 9.91-15.01, average daily share volume of 276K, a public-listing history dating back to 2007, approximately 357 full-time employees. These structural characteristics shape how NFBK stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.71 places NFBK roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 125.21 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. NFBK pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on NFBK?
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 NFBK snapshot
As of June 30, 2026, spot at $14.72, ATM IV 192.90%, IV rank 67.54%, expected move 55.30%. The iron condor on NFBK 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 NFBK specifically: NFBK IV at 192.90% is mid-range versus its 1-year history, so the credit collected on a NFBK iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 55.30% (roughly $8.14 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 NFBK expiries trade a higher absolute premium for lower per-day decay. Position sizing on NFBK should anchor to the underlying notional of $14.72 per share and to the trader's directional view on NFBK stock.
NFBK iron condor setup
The NFBK 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 NFBK near $14.72, the first option leg uses a $15.46 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed NFBK 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 NFBK shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $15.46 | N/A |
| Buy 1 | Call | $16.19 | N/A |
| Sell 1 | Put | $13.98 | N/A |
| Buy 1 | Put | $13.25 | N/A |
NFBK iron condor risk and reward
- Net Premium / Debit
- N/A
- Max Profit (per contract)
- Unbounded
- Max Loss (per contract)
- Unbounded
- Breakeven(s)
- None on modeled curve
- Risk / Reward Ratio
- N/A
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.
NFBK iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on NFBK. 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.
When traders use iron condor on NFBK
Iron condors on NFBK are a delta-neutral premium-collection structure that profits if NFBK stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
NFBK thesis for this iron condor
The market-implied 1-standard-deviation range for NFBK extends from approximately $6.58 on the downside to $22.86 on the upside. A NFBK iron condor is a delta-neutral premium-collection structure that pays off when NFBK 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 NFBK IV rank near 67.54% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on NFBK should anchor more to the directional view and the expected-move geometry. As a Financial Services name, NFBK options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to NFBK-specific events.
NFBK 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. NFBK positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move NFBK alongside the broader basket even when NFBK-specific fundamentals are unchanged. Short-premium structures like a iron condor on NFBK carry tail risk when realized volatility exceeds the implied move; review historical NFBK earnings reactions and macro stress periods before sizing. Always rebuild the position from current NFBK chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on NFBK?
- A iron condor on NFBK is the iron condor strategy applied to NFBK (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 NFBK stock trading near $14.72, the strikes shown on this page are snapped to the nearest listed NFBK chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are NFBK 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 NFBK iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 192.90%), the computed maximum profit is unbounded per contract and the computed maximum loss is unbounded per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a NFBK iron condor?
- The breakeven for the NFBK iron condor priced on this page is no defined breakeven on the modeled curve 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 NFBK market-implied 1-standard-deviation expected move is approximately 55.30%; 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 NFBK?
- Iron condors on NFBK are a delta-neutral premium-collection structure that profits if NFBK stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current NFBK implied volatility affect this iron condor?
- NFBK ATM IV is at 192.90% with IV rank near 67.54%, 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.