NNBR Iron Condor Strategy
NNBR (NN, Inc.), in the Industrials sector, (Conglomerates industry), listed on NASDAQ.
NN, Inc., a diversified industrial company, designs, manufactures, and sells high-precision components and assemblies. It operates through two segments, Mobile Solutions and Power Solutions. The Mobile Solutions segment manufactures and sells system critical components for general industrial and automotive end markets. This segments products are used in power steering, braking, transmissions, gasoline fuel system, diesel injection, and diesel emissions treatment applications, as well as use in heating, ventilation, and air conditioning. The Power Solutions segment designs, manufactures, and sells a range of high-precision metal and plastic components, assemblies, and finished devices used in various applications, such as power control, flight control, and military devices. Its products include electrical contacts, connectors, contact assemblies, and precision stampings for the electrical, general industrial, automotive, aerospace, defense, and medical end markets.
NNBR (NN, Inc.) trades in the Industrials sector, specifically Conglomerates, with a market capitalization of approximately $119.3M, a beta of 2.55 versus the broader market, a 52-week range of 1.1-2.99, average daily share volume of 925K, a public-listing history dating back to 1994, approximately 3K full-time employees. These structural characteristics shape how NNBR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.55 indicates NNBR has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.
What is a iron condor on NNBR?
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 NNBR snapshot
As of May 15, 2026, spot at $2.23, ATM IV 151.40%, IV rank 35.21%, expected move 43.41%. The iron condor on NNBR 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 34-day expiry.
Why this iron condor structure on NNBR specifically: NNBR IV at 151.40% is mid-range versus its 1-year history, so the credit collected on a NNBR iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 43.41% (roughly $0.97 on the underlying). The 34-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated NNBR expiries trade a higher absolute premium for lower per-day decay. Position sizing on NNBR should anchor to the underlying notional of $2.23 per share and to the trader's directional view on NNBR stock.
NNBR iron condor setup
The NNBR 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 NNBR near $2.23, the first option leg uses a $2.34 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed NNBR chain at a 34-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 NNBR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $2.34 | N/A |
| Buy 1 | Call | $2.45 | N/A |
| Sell 1 | Put | $2.12 | N/A |
| Buy 1 | Put | $2.01 | N/A |
NNBR 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.
NNBR iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on NNBR. 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 NNBR
Iron condors on NNBR are a delta-neutral premium-collection structure that profits if NNBR stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
NNBR thesis for this iron condor
The market-implied 1-standard-deviation range for NNBR extends from approximately $1.26 on the downside to $3.20 on the upside. A NNBR iron condor is a delta-neutral premium-collection structure that pays off when NNBR 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 NNBR IV rank near 35.21% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on NNBR should anchor more to the directional view and the expected-move geometry. As a Industrials name, NNBR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to NNBR-specific events.
NNBR 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. NNBR positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move NNBR alongside the broader basket even when NNBR-specific fundamentals are unchanged. Short-premium structures like a iron condor on NNBR carry tail risk when realized volatility exceeds the implied move; review historical NNBR earnings reactions and macro stress periods before sizing. Always rebuild the position from current NNBR chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on NNBR?
- A iron condor on NNBR is the iron condor strategy applied to NNBR (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 NNBR stock trading near $2.23, the strikes shown on this page are snapped to the nearest listed NNBR chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are NNBR 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 NNBR iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 151.40%), 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 NNBR iron condor?
- The breakeven for the NNBR 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 NNBR market-implied 1-standard-deviation expected move is approximately 43.41%; 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 NNBR?
- Iron condors on NNBR are a delta-neutral premium-collection structure that profits if NNBR stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current NNBR implied volatility affect this iron condor?
- NNBR ATM IV is at 151.40% with IV rank near 35.21%, 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.