SGC Iron Condor Strategy
SGC (Superior Group of Companies, Inc.), in the Consumer Cyclical sector, (Apparel - Manufacturers industry), listed on NASDAQ.
Superior Group of Companies, Inc. (SGC) is an established enterprise, founded in 1920 and based in Seminole, Florida. The company, which operated as Superior Uniform Group, Inc. until its renaming in May 2018, specializes in the creation and distribution of clothing and complementary items for a global market, spanning both domestic and international clients. SGC's operations are divided into three core business units: 1. Professional Apparel and Associated Products: This division focuses on manufacturing and selling a diverse range of uniforms, branded corporate attire, professional workwear, and related accessories. Their comprehensive client base includes staff in medical and healthcare environments, hotels, various food service and restaurant establishments, retail outlets, specialized industrial sites, commercial businesses, transportation companies, and both public and private security organizations. Additionally, this segment supplies goods directly linked to uniforms and service apparel, such as heavy-duty laundry bags for linen providers, personal protective equipment (PPE), and promotional items tailored for marketing campaigns, corporate recognition, incentive schemes, event promotions, and specialized packaging solutions.
SGC (Superior Group of Companies, Inc.) trades in the Consumer Cyclical sector, specifically Apparel - Manufacturers, with a market capitalization of approximately $199.3M, a trailing P/E of 21.71, a beta of 1.43 versus the broader market, a 52-week range of 8.3-14.59, average daily share volume of 42K, a public-listing history dating back to 1992, approximately 7K full-time employees. These structural characteristics shape how SGC stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.43 indicates SGC has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. SGC pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on SGC?
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 SGC snapshot
As of June 30, 2026, spot at $13.17, ATM IV 87.60%, IV rank 19.48%, expected move 25.11%. The iron condor on SGC 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 SGC specifically: SGC IV at 87.60% is on the cheap side of its 1-year range, which means a premium-selling SGC iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 25.11% (roughly $3.31 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 SGC expiries trade a higher absolute premium for lower per-day decay. Position sizing on SGC should anchor to the underlying notional of $13.17 per share and to the trader's directional view on SGC stock.
SGC iron condor setup
The SGC 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 SGC near $13.17, the first option leg uses a $13.83 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed SGC 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 SGC shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $13.83 | N/A |
| Buy 1 | Call | $14.49 | N/A |
| Sell 1 | Put | $12.51 | N/A |
| Buy 1 | Put | $11.85 | N/A |
SGC 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.
SGC iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on SGC. 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 SGC
Iron condors on SGC are a delta-neutral premium-collection structure that profits if SGC stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
SGC thesis for this iron condor
The market-implied 1-standard-deviation range for SGC extends from approximately $9.86 on the downside to $16.48 on the upside. A SGC iron condor is a delta-neutral premium-collection structure that pays off when SGC 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 SGC IV rank near 19.48% 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 SGC at 87.60%. As a Consumer Cyclical name, SGC options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to SGC-specific events.
SGC 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. SGC positions also carry Consumer Cyclical sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move SGC alongside the broader basket even when SGC-specific fundamentals are unchanged. Short-premium structures like a iron condor on SGC carry tail risk when realized volatility exceeds the implied move; review historical SGC earnings reactions and macro stress periods before sizing. Always rebuild the position from current SGC chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on SGC?
- A iron condor on SGC is the iron condor strategy applied to SGC (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 SGC stock trading near $13.17, the strikes shown on this page are snapped to the nearest listed SGC chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are SGC 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 SGC iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 87.60%), 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 SGC iron condor?
- The breakeven for the SGC 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 SGC market-implied 1-standard-deviation expected move is approximately 25.11%; 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 SGC?
- Iron condors on SGC are a delta-neutral premium-collection structure that profits if SGC stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current SGC implied volatility affect this iron condor?
- SGC ATM IV is at 87.60% with IV rank near 19.48%, 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.