OSS Iron Condor Strategy
OSS (One Stop Systems, Inc.), in the Technology sector, (Computer Hardware industry), listed on NASDAQ.
One Stop Systems, Inc. (OSS) is a key developer and producer of high-performance computing (HPC) modules and systems, specifically tailored for demanding edge deployments both domestically and across global markets. These advanced systems are engineered around cutting-edge graphical processing unit (GPU) and solid-state flash technologies. OSS's comprehensive product portfolio encompasses custom servers, sophisticated data acquisition platforms, powerful compute accelerators, and high-speed solid-state storage arrays. It also includes various PCIe expansion solutions and system I/O expansion units, alongside industrial and panel PCs optimized for edge environments. Furthermore, the company supplies robust mobile tablets and handheld devices, purpose-built to withstand challenging environmental conditions often encountered in edge applications. Serving a diverse client base, OSS distributes its offerings to multinational corporations, government entities, defense contractors, and leading technology providers.
OSS (One Stop Systems, Inc.) trades in the Technology sector, specifically Computer Hardware, with a market capitalization of approximately $330.7M, a trailing P/E of 257.77, a beta of 1.47 versus the broader market, a 52-week range of 4.17-20.88, average daily share volume of 1.5M, a public-listing history dating back to 2018, approximately 57 full-time employees. These structural characteristics shape how OSS stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.47 indicates OSS 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 257.77 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 OSS?
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.
OSS snapshot
As of August 14, 2026, spot at $13.47, ATM IV 91.30%, IV rank 24.67%, expected move 26.17%. The iron condor on OSS below is built from the end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.
Why this iron condor structure on OSS specifically: OSS IV at 91.30% is on the cheap side of its 1-year range, which means a premium-selling OSS iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 26.17% (roughly $3.53 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated OSS expiries trade a higher absolute premium for lower per-day decay. Position sizing on OSS should anchor to the underlying notional of $13.47 per share and to the trader's directional view on OSS stock.
OSS iron condor setup
The OSS 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 OSS at $13.47 on that close, the first option leg uses a $14.14 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed OSS chain at a 35-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 OSS shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $14.14 | N/A |
| Buy 1 | Call | $14.82 | N/A |
| Sell 1 | Put | $12.80 | N/A |
| Buy 1 | Put | $12.12 | N/A |
OSS 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.
OSS iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on OSS. 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 OSS
Iron condors on OSS are a delta-neutral premium-collection structure that profits if OSS stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
OSS thesis for this iron condor
The market-implied 1-standard-deviation range for OSS extends from approximately $9.94 on the downside to $17.00 on the upside. A OSS iron condor is a delta-neutral premium-collection structure that pays off when OSS 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 OSS IV rank near 24.67% sits in the lower third of its 1-year distribution, where IV often re-expands toward the mean; this favors premium-buying structures and disadvantages premium-selling structures on OSS at 91.30%. As a Technology name, OSS options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to OSS-specific events.
OSS 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. OSS positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move OSS alongside the broader basket even when OSS-specific fundamentals are unchanged. Short-premium structures like a iron condor on OSS carry tail risk when realized volatility exceeds the implied move; review historical OSS earnings reactions and macro stress periods before sizing. Always rebuild the position from current OSS chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on OSS?
- A iron condor on OSS is the iron condor strategy applied to OSS (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 OSS stock at $13.47 on the most recent close, the strikes shown on this page are snapped to the nearest listed OSS chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are OSS 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 OSS iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 91.30%), 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 OSS iron condor?
- The breakeven for the OSS iron condor priced on this page is no defined breakeven on the modeled curve at expiration, derived from the end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The OSS market-implied 1-standard-deviation expected move in the same options snapshot is approximately 26.17%; 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 OSS?
- Iron condors on OSS are a delta-neutral premium-collection structure that profits if OSS stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current OSS implied volatility affect this iron condor?
- OSS ATM IV is at 91.30% with IV rank near 24.67%, which is on the low end of its 1-year range. Premium-buying structures (long call, long put, debit spreads) are relatively cheap in this regime; premium-selling structures collect less credit per unit risk.