ROP Iron Condor Strategy
ROP (Roper Technologies, Inc.), in the Industrials sector, (Industrial - Machinery industry), listed on NASDAQ.
Roper Technologies, Inc. designs and develops software, and engineered products and solutions. The company offers management, campus solutions, diagnostic and laboratory information management, enterprise management, information solutions, transportation management, financial and compliance management, and cloud-based financial analytics and performance management software; cloud-based software to the property and casualty insurance industry; and software, services, and technologies for foodservice operations. It also provides cloud-based data, collaboration, and estimating automation software; electronic marketplace; visual effects and 3D content software; wireless sensor network and solutions; cloud-based software for the life insurance and financial services industries; supply chain software; health care service and software; RFID card readers; data analytics and information; and pharmacy software solutions. In addition, the company offers precision rubber and polymer testing instruments, and data analysis software; ultrasound accessories; testing and analyzing plastic solutions; dispensers and metering pumps; control valves; precision weighing equipment; automated surgical scrub and linen dispensing equipment; water meters; optical and electromagnetic measurement systems; automated leak detection equipment; medical devices; products and services for water and gas utilities; and equipment and consumables. It also provides temperature control and emergency shutoff valves; turbomachinery control hardware, software, and services; specialized pumps; flow meter calibrators and controllers; vibration monitoring systems and controls; analytical instrument; drilling power section; and pressure and level sensors. The company was formerly known as Roper Industries, Inc. and changed its name to Roper Technologies, Inc. in April 2015.
ROP (Roper Technologies, Inc.) trades in the Industrials sector, specifically Industrial - Machinery, with a market capitalization of approximately $31.92B, a trailing P/E of 19.24, a beta of 0.80 versus the broader market, a 52-week range of 305.96-584.03, average daily share volume of 1.4M, a public-listing history dating back to 1992, approximately 18K full-time employees. These structural characteristics shape how ROP stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.80 places ROP roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. ROP pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on ROP?
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 ROP snapshot
As of May 15, 2026, spot at $322.22, ATM IV 32.90%, IV rank 70.09%, expected move 9.43%. The iron condor on ROP 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 ROP specifically: ROP IV at 32.90% is rich versus its 1-year range, which favors premium-selling structures like a ROP iron condor, with a market-implied 1-standard-deviation move of approximately 9.43% (roughly $30.39 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 ROP expiries trade a higher absolute premium for lower per-day decay. Position sizing on ROP should anchor to the underlying notional of $322.22 per share and to the trader's directional view on ROP stock.
ROP iron condor setup
The ROP 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 ROP near $322.22, the first option leg uses a $340.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ROP 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 ROP shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $340.00 | $6.65 |
| Buy 1 | Call | $350.00 | $3.90 |
| Sell 1 | Put | $310.00 | $7.10 |
| Buy 1 | Put | $290.00 | $3.25 |
ROP iron condor risk and reward
- Net Premium / Debit
- +$660.00
- Max Profit (per contract)
- $660.00
- Max Loss (per contract)
- -$1,340.00
- Breakeven(s)
- $303.40, $346.60
- 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.
ROP iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on ROP. 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.
| Underlying Price | % From Spot | P&L at Expiration |
|---|---|---|
| $0.01 | -100.0% | -$1,340.00 |
| $71.25 | -77.9% | -$1,340.00 |
| $142.50 | -55.8% | -$1,340.00 |
| $213.74 | -33.7% | -$1,340.00 |
| $284.98 | -11.6% | -$1,340.00 |
| $356.23 | +10.6% | -$340.00 |
| $427.47 | +32.7% | -$340.00 |
| $498.71 | +54.8% | -$340.00 |
| $569.96 | +76.9% | -$340.00 |
| $641.20 | +99.0% | -$340.00 |
When traders use iron condor on ROP
Iron condors on ROP are a delta-neutral premium-collection structure that profits if ROP stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
ROP thesis for this iron condor
The market-implied 1-standard-deviation range for ROP extends from approximately $291.83 on the downside to $352.61 on the upside. A ROP iron condor is a delta-neutral premium-collection structure that pays off when ROP 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 ROP IV rank near 70.09% sits in the upper third of its 1-year distribution, which historically reverts; this raises the bar for premium-buying structures and lowers it for premium-selling structures on ROP at 32.90%. As a Industrials name, ROP options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ROP-specific events.
ROP 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. ROP positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ROP alongside the broader basket even when ROP-specific fundamentals are unchanged. Short-premium structures like a iron condor on ROP carry tail risk when realized volatility exceeds the implied move; review historical ROP earnings reactions and macro stress periods before sizing. Always rebuild the position from current ROP chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on ROP?
- A iron condor on ROP is the iron condor strategy applied to ROP (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 ROP stock trading near $322.22, the strikes shown on this page are snapped to the nearest listed ROP chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are ROP 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 ROP iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 32.90%), the computed maximum profit is $660.00 per contract and the computed maximum loss is -$1,340.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a ROP iron condor?
- The breakeven for the ROP iron condor priced on this page is roughly $303.40 and $346.60 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 ROP market-implied 1-standard-deviation expected move is approximately 9.43%; 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 ROP?
- Iron condors on ROP are a delta-neutral premium-collection structure that profits if ROP stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current ROP implied volatility affect this iron condor?
- ROP ATM IV is at 32.90% with IV rank near 70.09%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.