STN Iron Condor Strategy
STN (Stantec Inc.), in the Industrials sector, (Engineering & Construction industry), listed on NYSE.
Stantec Inc. provides engineering, architecture, and environmental consulting services in the areas of infrastructure and facilities in Canada, the United States, and internationally. The company provides consulting services in engineering, architecture, interior design, landscape architecture, surveying, environmental sciences, project management, and project economics. It also offers structural, mechanical, electrical, plumbing, and hydraulics engineering services; transportation advisory, planning and analytics, transport engineering, and technical design; paleontological and archaeological services for the rail, transportation, water, and power and energy sectors; environmental and infrastructure services; and environmental and cultural resource compliance services. The company was formerly known as Stanley Technology Group Inc. and changed its name to Stantec Inc. in October 1998. Stantec Inc. was founded in 1954 and is headquartered in Edmonton, Canada.
STN (Stantec Inc.) trades in the Industrials sector, specifically Engineering & Construction, with a market capitalization of approximately $8.89B, a trailing P/E of 25.44, a beta of 0.72 versus the broader market, a 52-week range of 77.41-114.52, average daily share volume of 351K, a public-listing history dating back to 2005, approximately 32K full-time employees. These structural characteristics shape how STN stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.72 places STN roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. STN pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on STN?
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 STN snapshot
As of May 15, 2026, spot at $77.02, ATM IV 34.90%, IV rank 4.68%, expected move 10.01%. The iron condor on STN 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 STN specifically: STN IV at 34.90% is on the cheap side of its 1-year range, which means a premium-selling STN iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 10.01% (roughly $7.71 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 STN expiries trade a higher absolute premium for lower per-day decay. Position sizing on STN should anchor to the underlying notional of $77.02 per share and to the trader's directional view on STN stock.
STN iron condor setup
The STN 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 STN near $77.02, the first option leg uses a $80.87 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed STN 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 STN shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $80.87 | N/A |
| Buy 1 | Call | $84.72 | N/A |
| Sell 1 | Put | $73.17 | N/A |
| Buy 1 | Put | $69.32 | N/A |
STN 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.
STN iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on STN. 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 STN
Iron condors on STN are a delta-neutral premium-collection structure that profits if STN stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
STN thesis for this iron condor
The market-implied 1-standard-deviation range for STN extends from approximately $69.31 on the downside to $84.73 on the upside. A STN iron condor is a delta-neutral premium-collection structure that pays off when STN 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 STN IV rank near 4.68% 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 STN at 34.90%. As a Industrials name, STN options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to STN-specific events.
STN 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. STN positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move STN alongside the broader basket even when STN-specific fundamentals are unchanged. Short-premium structures like a iron condor on STN carry tail risk when realized volatility exceeds the implied move; review historical STN earnings reactions and macro stress periods before sizing. Always rebuild the position from current STN chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on STN?
- A iron condor on STN is the iron condor strategy applied to STN (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 STN stock trading near $77.02, the strikes shown on this page are snapped to the nearest listed STN chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are STN 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 STN iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 34.90%), 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 STN iron condor?
- The breakeven for the STN 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 STN market-implied 1-standard-deviation expected move is approximately 10.01%; 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 STN?
- Iron condors on STN are a delta-neutral premium-collection structure that profits if STN stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current STN implied volatility affect this iron condor?
- STN ATM IV is at 34.90% with IV rank near 4.68%, 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.