PKOH Iron Condor Strategy
PKOH (Park-Ohio Holdings Corp.), in the Industrials sector, (Industrial - Machinery industry), listed on NASDAQ.
Park-Ohio Holdings Corp. provides supply chain management outsourcing services, capital equipment, and manufactured components in the United States, Europe, Asia, Mexico, Canada, and internationally. It operates through three segments: Supply Technologies, Assembly Components, and Engineered Products. The Supply Technologies segment offers Total Supply Management solution, including engineering and design support, part usage and cost analysis, supplier selection, quality assurance, bar coding, product packaging and tracking, just-in-time and point-of-use delivery, electronic billing, and ongoing technical support services, as well as provides spare parts and aftermarket products; and production components, such as valves, fuel hose assemblies, electro-mechanical hardware, labels, fittings, steering components, and other products. It also engineers and manufactures precision cold-formed and cold-extruded fasteners and other products, including locknuts, SPAC nuts, SPAC bolts, and wheel hardware. The Assembly Components segment manufactures aluminum products, direct fuel injection fuel rails and pipes, fuel filler pipes, and flexible multi-layer plastic and rubber assemblies; turbo charging and coolant hoses; and fluid handling systems. It also offers machining services, as well as value-added services, such as design engineering, machining, and part assembly.
PKOH (Park-Ohio Holdings Corp.) trades in the Industrials sector, specifically Industrial - Machinery, with a market capitalization of approximately $433.0M, a trailing P/E of 16.94, a beta of 1.17 versus the broader market, a 52-week range of 15.52-31.92, average daily share volume of 45K, a public-listing history dating back to 1973, approximately 6K full-time employees. These structural characteristics shape how PKOH stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.17 places PKOH roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. PKOH pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on PKOH?
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 PKOH snapshot
As of May 15, 2026, spot at $30.74, ATM IV 88.80%, IV rank 17.48%, expected move 25.46%. The iron condor on PKOH 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 PKOH specifically: PKOH IV at 88.80% is on the cheap side of its 1-year range, which means a premium-selling PKOH iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 25.46% (roughly $7.83 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 PKOH expiries trade a higher absolute premium for lower per-day decay. Position sizing on PKOH should anchor to the underlying notional of $30.74 per share and to the trader's directional view on PKOH stock.
PKOH iron condor setup
The PKOH 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 PKOH near $30.74, the first option leg uses a $32.28 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed PKOH 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 PKOH shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $32.28 | N/A |
| Buy 1 | Call | $33.81 | N/A |
| Sell 1 | Put | $29.20 | N/A |
| Buy 1 | Put | $27.67 | N/A |
PKOH 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.
PKOH iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on PKOH. 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 PKOH
Iron condors on PKOH are a delta-neutral premium-collection structure that profits if PKOH stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
PKOH thesis for this iron condor
The market-implied 1-standard-deviation range for PKOH extends from approximately $22.91 on the downside to $38.57 on the upside. A PKOH iron condor is a delta-neutral premium-collection structure that pays off when PKOH 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 PKOH IV rank near 17.48% 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 PKOH at 88.80%. As a Industrials name, PKOH options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to PKOH-specific events.
PKOH 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. PKOH positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move PKOH alongside the broader basket even when PKOH-specific fundamentals are unchanged. Short-premium structures like a iron condor on PKOH carry tail risk when realized volatility exceeds the implied move; review historical PKOH earnings reactions and macro stress periods before sizing. Always rebuild the position from current PKOH chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on PKOH?
- A iron condor on PKOH is the iron condor strategy applied to PKOH (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 PKOH stock trading near $30.74, the strikes shown on this page are snapped to the nearest listed PKOH chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are PKOH 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 PKOH iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 88.80%), 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 PKOH iron condor?
- The breakeven for the PKOH 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 PKOH market-implied 1-standard-deviation expected move is approximately 25.46%; 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 PKOH?
- Iron condors on PKOH are a delta-neutral premium-collection structure that profits if PKOH stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current PKOH implied volatility affect this iron condor?
- PKOH ATM IV is at 88.80% with IV rank near 17.48%, 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.