How are ROIV 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 ROIV iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 43.50%), the computed maximum profit is $66.00 per contract and the computed maximum loss is -$134.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a ROIV iron condor?

The breakeven for the ROIV iron condor priced on this page is roughly $32.34 and $37.66 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 ROIV market-implied 1-standard-deviation expected move is approximately 12.47%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current ROIV implied volatility affect this iron condor?

ROIV ATM IV is at 43.50% with IV rank near 33.51%, 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.

ROIV Iron Condor Strategy

ROIV (Roivant Sciences Ltd.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.

Roivant Sciences Ltd. is a biopharmaceutical and healthcare technology company dedicated to discovering and advancing innovative therapeutic drugs. The firm's development pipeline targets a broad spectrum of diseases, including various forms of solid tumors and oncologic malignancies, hematological disorders like sickle cell disease and warm autoimmune hemolytic anemia, as well as rare conditions such as hypophosphatasia. Additionally, Roivant is developing treatments for immunological and dermatological ailments, including psoriasis, atopic dermatitis, vitiligo, hyperhidrosis, acne, myasthenia gravis, thyroid eye diseases, and sarcoidosis, alongside tackling infections like staph aureus bacteremia. Founded in 2014, its operations are based in London, United Kingdom.

ROIV (Roivant Sciences Ltd.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $24.51B, a beta of 1.14 versus the broader market, a 52-week range of 10.705-34.68, average daily share volume of 5.9M, a public-listing history dating back to 2020, approximately 908 full-time employees. These structural characteristics shape how ROIV stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.14 places ROIV roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.

What is a iron condor on ROIV?

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 ROIV snapshot

As of June 30, 2026, spot at $35.25, ATM IV 43.50%, IV rank 33.51%, expected move 12.47%. The iron condor on ROIV 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 17-day expiry.

Why this iron condor structure on ROIV specifically: ROIV IV at 43.50% is mid-range versus its 1-year history, so the credit collected on a ROIV iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 12.47% (roughly $4.40 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated ROIV expiries trade a higher absolute premium for lower per-day decay. Position sizing on ROIV should anchor to the underlying notional of $35.25 per share and to the trader's directional view on ROIV stock.

ROIV iron condor setup

The ROIV 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 ROIV near $35.25, the first option leg uses a $37.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ROIV chain at a 17-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 ROIV shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$37.00	$0.75
Buy 1	Call	$39.00	$0.33
Sell 1	Put	$33.00	$0.45
Buy 1	Put	$32.00	$0.21

ROIV iron condor risk and reward

Net Premium / Debit: +$66.00
Max Profit (per contract): $66.00
Max Loss (per contract): -$134.00
Breakeven(s): $32.34, $37.66
Risk / Reward Ratio: 0.493

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.

ROIV iron condor payoff curve

Modeled P&L at expiration across a range of underlying prices for the iron condor on ROIV. 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	-100.0%	-$34.00
$7.80	-77.9%	-$34.00
$15.60	-55.8%	-$34.00
$23.39	-33.6%	-$34.00
$31.18	-11.5%	-$34.00
$38.97	+10.6%	-$131.43
$46.77	+32.7%	-$134.00
$54.56	+54.8%	-$134.00
$62.35	+76.9%	-$134.00
$70.15	+99.0%	-$134.00

When traders use iron condor on ROIV

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

ROIV thesis for this iron condor

The market-implied 1-standard-deviation range for ROIV extends from approximately $30.85 on the downside to $39.65 on the upside. A ROIV iron condor is a delta-neutral premium-collection structure that pays off when ROIV 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 ROIV IV rank near 33.51% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on ROIV should anchor more to the directional view and the expected-move geometry. As a Healthcare name, ROIV options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ROIV-specific events.

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

Frequently asked questions

What is a iron condor on ROIV?: A iron condor on ROIV is the iron condor strategy applied to ROIV (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 ROIV stock trading near $35.25, the strikes shown on this page are snapped to the nearest listed ROIV chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are ROIV 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 ROIV iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 43.50%), the computed maximum profit is $66.00 per contract and the computed maximum loss is -$134.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a ROIV iron condor?: The breakeven for the ROIV iron condor priced on this page is roughly $32.34 and $37.66 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 ROIV market-implied 1-standard-deviation expected move is approximately 12.47%; 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 ROIV?: Iron condors on ROIV are a delta-neutral premium-collection structure that profits if ROIV stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
How does current ROIV implied volatility affect this iron condor?: ROIV ATM IV is at 43.50% with IV rank near 33.51%, 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.