RCI Iron Condor Strategy
RCI (Rogers Communications Inc.), in the Communication Services sector, (Telecommunications Services industry), listed on NYSE.
Rogers Communications Inc. operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The company offers mobile Internet access, wireless voice and enhanced voice, device and accessory financing, wireless home phone, device protection, e-mail, global voice and data roaming, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device delivery services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands to approximately 11.3 million subscribers. It also provides Internet and WiFi services; smart home monitoring services, such as monitoring, security, automation, energy efficiency, and smart control through a smartphone app. In addition, the company offers local and network TV; on-demand television; cloud-based digital video recorders; voice-activated remote controls, and integrated apps; personal video recorders; linear and time-shifted programming; digital specialty channels; 4K television programming; and televised content on smartphones, tablets, and personal computers, as well as operates Ignite TV and Ignite TV app. Further, it provides residential and small business local telephony services; calling features, such as voicemail, call waiting, and long distance; voice, data networking, Internet protocol, and Ethernet services; private networking, Internet, IP voice, and cloud solutions; optical wave and multi-protocol label switching services; IT and network technologies; and cable access network services.
RCI (Rogers Communications Inc.) trades in the Communication Services sector, specifically Telecommunications Services, with a market capitalization of approximately $19.50B, a trailing P/E of 3.76, a beta of 0.78 versus the broader market, a 52-week range of 25.05-41.14, average daily share volume of 1.3M, a public-listing history dating back to 1996, approximately 24K full-time employees. These structural characteristics shape how RCI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.78 places RCI roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 3.76 is on the value side, where IV often compresses outside event windows because forward growth expectations are already discounted into the share price. RCI pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on RCI?
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 RCI snapshot
As of May 15, 2026, spot at $35.38, ATM IV 31.30%, IV rank 8.73%, expected move 8.97%. The iron condor on RCI 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 RCI specifically: RCI IV at 31.30% is on the cheap side of its 1-year range, which means a premium-selling RCI iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 8.97% (roughly $3.17 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 RCI expiries trade a higher absolute premium for lower per-day decay. Position sizing on RCI should anchor to the underlying notional of $35.38 per share and to the trader's directional view on RCI stock.
RCI iron condor setup
The RCI 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 RCI near $35.38, the first option leg uses a $37.15 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed RCI 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 RCI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $37.15 | N/A |
| Buy 1 | Call | $38.92 | N/A |
| Sell 1 | Put | $33.61 | N/A |
| Buy 1 | Put | $31.84 | N/A |
RCI 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.
RCI iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on RCI. 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 RCI
Iron condors on RCI are a delta-neutral premium-collection structure that profits if RCI stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
RCI thesis for this iron condor
The market-implied 1-standard-deviation range for RCI extends from approximately $32.21 on the downside to $38.55 on the upside. A RCI iron condor is a delta-neutral premium-collection structure that pays off when RCI 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 RCI IV rank near 8.73% 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 RCI at 31.30%. As a Communication Services name, RCI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to RCI-specific events.
RCI 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. RCI positions also carry Communication Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move RCI alongside the broader basket even when RCI-specific fundamentals are unchanged. Short-premium structures like a iron condor on RCI carry tail risk when realized volatility exceeds the implied move; review historical RCI earnings reactions and macro stress periods before sizing. Always rebuild the position from current RCI chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on RCI?
- A iron condor on RCI is the iron condor strategy applied to RCI (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 RCI stock trading near $35.38, the strikes shown on this page are snapped to the nearest listed RCI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are RCI 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 RCI iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 31.30%), 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 RCI iron condor?
- The breakeven for the RCI 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 RCI market-implied 1-standard-deviation expected move is approximately 8.97%; 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 RCI?
- Iron condors on RCI are a delta-neutral premium-collection structure that profits if RCI stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current RCI implied volatility affect this iron condor?
- RCI ATM IV is at 31.30% with IV rank near 8.73%, 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.