SUNC Iron Condor Strategy
SUNC (SunocoCorp LLC), in the Energy sector, (Oil & Gas Midstream industry), listed on NYSE.
Established in 2000, SunocoCorp LLC is a Dallas, Texas-headquartered firm primarily engaged in energy infrastructure and fuel distribution activities.
SUNC (SunocoCorp LLC) trades in the Energy sector, specifically Oil & Gas Midstream, with a market capitalization of approximately $3.25B, a trailing P/E of 10.04, a beta of 0.06 versus the broader market, a 52-week range of 47-77.57, average daily share volume of 495K, a public-listing history dating back to 2025, approximately 9K full-time employees. These structural characteristics shape how SUNC stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.06 indicates SUNC 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 10.04 is on the value side, where IV often compresses outside event windows because forward growth expectations are already discounted into the share price. SUNC pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on SUNC?
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.
SUNC snapshot
As of August 14, 2026, spot at $75.65, ATM IV 16.60%, expected move 4.76%. The iron condor on SUNC 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 SUNC specifically: IV rank is unavailable in the current snapshot, so regime-based timing for SUNC is inferred from ATM IV at 16.60% alone, with a market-implied 1-standard-deviation move of approximately 4.76% (roughly $3.60 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 SUNC expiries trade a higher absolute premium for lower per-day decay. Position sizing on SUNC should anchor to the underlying notional of $75.65 per share and to the trader's directional view on SUNC stock.
SUNC iron condor setup
The SUNC 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 SUNC at $75.65 on that close, the first option leg uses a $79.43 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed SUNC 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 SUNC shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $79.43 | N/A |
| Buy 1 | Call | $83.22 | N/A |
| Sell 1 | Put | $71.87 | N/A |
| Buy 1 | Put | $68.09 | N/A |
SUNC 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.
SUNC iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on SUNC. 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 SUNC
Iron condors on SUNC are a delta-neutral premium-collection structure that profits if SUNC stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
SUNC thesis for this iron condor
The market-implied 1-standard-deviation range for SUNC extends from approximately $72.05 on the downside to $79.25 on the upside. A SUNC iron condor is a delta-neutral premium-collection structure that pays off when SUNC 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. As a Energy name, SUNC options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to SUNC-specific events.
SUNC 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. SUNC positions also carry Energy sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move SUNC alongside the broader basket even when SUNC-specific fundamentals are unchanged. Short-premium structures like a iron condor on SUNC carry tail risk when realized volatility exceeds the implied move; review historical SUNC earnings reactions and macro stress periods before sizing. Always rebuild the position from current SUNC chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on SUNC?
- A iron condor on SUNC is the iron condor strategy applied to SUNC (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 SUNC stock at $75.65 on the most recent close, the strikes shown on this page are snapped to the nearest listed SUNC chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are SUNC 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 SUNC iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 16.60%), 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 SUNC iron condor?
- The breakeven for the SUNC 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 SUNC market-implied 1-standard-deviation expected move in the same options snapshot is approximately 4.76%; 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 SUNC?
- Iron condors on SUNC are a delta-neutral premium-collection structure that profits if SUNC stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current SUNC implied volatility affect this iron condor?
- Current SUNC ATM IV is 16.60%; IV rank context is unavailable in the current snapshot.