How are OI 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 OI iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 57.50%), the computed maximum profit is $37.50 per contract and the computed maximum loss is -$62.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a OI iron condor?

The breakeven for the OI iron condor priced on this page is roughly $10.38 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 OI market-implied 1-standard-deviation expected move is approximately 16.48%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current OI implied volatility affect this iron condor?

OI ATM IV is at 57.50% with IV rank near 68.78%, 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.

OI Iron Condor Strategy

OI (O-I Glass, Inc.), in the Consumer Cyclical sector, (Packaging & Containers industry), listed on NYSE.

O-I Glass, Inc., through its various subsidiaries, is dedicated to the manufacturing and global distribution of glass packaging. The company primarily furnishes glass containers to businesses in the food and beverage industries across the Americas, Europe, and the Asia Pacific regions. Their product offerings encompass glass bottles and jars specifically designed for alcoholic beverages, such as beer, spirits, wine, and flavored malt beverages. Additionally, they provide glass packaging solutions for a range of other products, including various food items, soft drinks, teas, juices, and pharmaceutical goods. O-I Glass ensures a comprehensive selection of glass containers, available in diverse sizes, unique shapes, and a wide spectrum of colors to meet client specifications. The company facilitates sales directly to its customers, often secured through multi-year supply contracts, and also leverages a network of distributors.

OI (O-I Glass, Inc.) trades in the Consumer Cyclical sector, specifically Packaging & Containers, with a market capitalization of approximately $1.49B, a beta of 0.65 versus the broader market, a 52-week range of 7.75-16.91, average daily share volume of 2.8M, a public-listing history dating back to 1991, approximately 21K full-time employees. These structural characteristics shape how OI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.65 indicates OI has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure.

What is a iron condor on OI?

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 OI snapshot

As of June 30, 2026, spot at $9.65, ATM IV 57.50%, IV rank 68.78%, expected move 16.48%. The iron condor on OI 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 52-day expiry.

Why this iron condor structure on OI specifically: OI IV at 57.50% is mid-range versus its 1-year history, so the credit collected on a OI iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 16.48% (roughly $1.59 on the underlying). The 52-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated OI expiries trade a higher absolute premium for lower per-day decay. Position sizing on OI should anchor to the underlying notional of $9.65 per share and to the trader's directional view on OI stock.

OI iron condor setup

The OI 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 OI near $9.65, the first option leg uses a $10.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed OI chain at a 52-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 OI shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$10.00	$0.80
Buy 1	Call	$11.00	$0.43
Sell 1	Put	$9.00	$0.58
Buy 1	Put	$9.00	$0.58

OI iron condor risk and reward

Net Premium / Debit: +$37.50
Max Profit (per contract): $37.50
Max Loss (per contract): -$62.50
Breakeven(s): $10.38
Risk / Reward Ratio: 0.600

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.

OI iron condor payoff curve

Modeled P&L at expiration across a range of underlying prices for the iron condor on OI. 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	-99.9%	+$37.50
$2.14	-77.8%	+$37.50
$4.28	-55.7%	+$37.50
$6.41	-33.6%	+$37.50
$8.54	-11.5%	+$37.50
$10.67	+10.6%	-$29.78
$12.81	+32.7%	-$62.50
$14.94	+54.8%	-$62.50
$17.07	+76.9%	-$62.50
$19.20	+99.0%	-$62.50

When traders use iron condor on OI

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

OI thesis for this iron condor

The market-implied 1-standard-deviation range for OI extends from approximately $8.06 on the downside to $11.24 on the upside. A OI iron condor is a delta-neutral premium-collection structure that pays off when OI 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 OI IV rank near 68.78% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on OI should anchor more to the directional view and the expected-move geometry. As a Consumer Cyclical name, OI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to OI-specific events.

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

Frequently asked questions

What is a iron condor on OI?: A iron condor on OI is the iron condor strategy applied to OI (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 OI stock trading near $9.65, the strikes shown on this page are snapped to the nearest listed OI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are OI 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 OI iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 57.50%), the computed maximum profit is $37.50 per contract and the computed maximum loss is -$62.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a OI iron condor?: The breakeven for the OI iron condor priced on this page is roughly $10.38 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 OI market-implied 1-standard-deviation expected move is approximately 16.48%; 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 OI?: Iron condors on OI are a delta-neutral premium-collection structure that profits if OI stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
How does current OI implied volatility affect this iron condor?: OI ATM IV is at 57.50% with IV rank near 68.78%, 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.