SLRC Iron Condor Strategy
SLRC (SLR Investment Corp.), in the Financial Services sector, (Asset Management industry), listed on NASDAQ.
SLR Investment Corp. is a business development company specializing in secured debt (first lien unitranche and second lien), subordinated (unsecured) debt, minority equity, leveraged buyouts, acquisitions, recapitalizations, general refinancing, growth capital and strategic income-oriented control equity investments in leveraged middle market companies. The fund invests in aerospace and defense; air freight & logistics; asset management; automotive; banking; beverage, food and tobacco; building products; buildings and real estate; broadcasting and entertainment; cargo transport; commercial services and supplies; communications equipment; chemicals, plastics and rubber; containers, packaging and glass; construction & engineering; diversified/conglomerate manufacturing; consumer Finance; distributors; diversified/conglomerate services; diversified financial services; diversified real estate activities; food products; Footwear; Education Services; diversified telecommunications services; electronics; farming and agriculture; finance; grocery; health care equipment and supplies; health care facilities; education and childcare; home and office furnishing, durable consumer products; hotels, motels, inns and gaming; insurance; restaurants, leisure, amusement, and entertainment; leisure equipment tolls and services, media, multiline retail, multi sector holdings; paper and forest products; personal products; professional services, research and consulting services, software; specialty retail; textiles apparel and luxury goods, thrifts and mortgage finance, trading companies and distributors, utilities, and wireless telecommunication services; industrial conglomerates; internet software and services, IT services, machinery; mining, steel, iron, and non-precious metals; oil and gas; personal, food and miscellaneous services; printing and publishing; retail stores; telecommunications; textiles and leather; and utilities. It also invests in life sciences with focus on specialty pharmaceuticals, medical devices, biotech, health Care Providers and services; health Care technology, enabling technologies and tools. The fund primarily invests in United States. The fund’s investments generally range between $5 million and $25million. The fund invests in companies with debt investments between $10 million and $50 million with revenues between $50 million and $1000 million and EBITDA between $15 million and $100 million.
SLRC (SLR Investment Corp.) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $699.9M, a trailing P/E of 9.57, a beta of 0.66 versus the broader market, a 52-week range of 12.13-16.83, average daily share volume of 440K, a public-listing history dating back to 2010. These structural characteristics shape how SLRC stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.66 indicates SLRC has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. The trailing P/E of 9.57 is on the value side, where IV often compresses outside event windows because forward growth expectations are already discounted into the share price. SLRC pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on SLRC?
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.
SLRC snapshot
As of August 14, 2026, spot at $12.94, ATM IV 360.90%, IV rank 72.96%, expected move 103.47%. The iron condor on SLRC below is built from the end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.
Why this iron condor structure on SLRC specifically: SLRC IV at 360.90% is rich versus its 1-year range, which favors premium-selling structures like a SLRC iron condor, with a market-implied 1-standard-deviation move of approximately 103.47% (roughly $13.39 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated SLRC expiries trade a higher absolute premium for lower per-day decay. Position sizing on SLRC should anchor to the underlying notional of $12.94 per share and to the trader's directional view on SLRC stock.
SLRC iron condor setup
The SLRC 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 SLRC at $12.94 on that close, the first option leg uses a $13.59 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed SLRC chain at a 35-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 SLRC shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $13.59 | N/A |
| Buy 1 | Call | $14.23 | N/A |
| Sell 1 | Put | $12.29 | N/A |
| Buy 1 | Put | $11.65 | N/A |
SLRC 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.
SLRC iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on SLRC. 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 SLRC
Iron condors on SLRC are a delta-neutral premium-collection structure that profits if SLRC stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
SLRC thesis for this iron condor
The market-implied 1-standard-deviation range for SLRC extends from approximately $-0.45 on the downside to $26.33 on the upside. A SLRC iron condor is a delta-neutral premium-collection structure that pays off when SLRC 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 SLRC IV rank near 72.96% 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 SLRC at 360.90%. As a Financial Services name, SLRC options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to SLRC-specific events.
SLRC 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. SLRC positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move SLRC alongside the broader basket even when SLRC-specific fundamentals are unchanged. Short-premium structures like a iron condor on SLRC carry tail risk when realized volatility exceeds the implied move; review historical SLRC earnings reactions and macro stress periods before sizing. Always rebuild the position from current SLRC chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on SLRC?
- A iron condor on SLRC is the iron condor strategy applied to SLRC (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 SLRC stock at $12.94 on the most recent close, the strikes shown on this page are snapped to the nearest listed SLRC chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are SLRC 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 SLRC iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 360.90%), 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 SLRC iron condor?
- The breakeven for the SLRC iron condor priced on this page is no defined breakeven on the modeled curve at expiration, derived from the end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The SLRC market-implied 1-standard-deviation expected move in the same options snapshot is approximately 103.47%; 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 SLRC?
- Iron condors on SLRC are a delta-neutral premium-collection structure that profits if SLRC stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current SLRC implied volatility affect this iron condor?
- SLRC ATM IV is at 360.90% with IV rank near 72.96%, 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.