SXI Iron Condor Strategy
SXI (Standex International Corporation), in the Industrials sector, (Industrial - Machinery industry), listed on NYSE.
Standex International Corporation (SXI) operates as a diversified global manufacturer and provider of products and services, catering to commercial and industrial markets across the United States and internationally. The company's operations are strategically organized into five key segments: Electronics, Engraving, Scientific, Engineering Technologies, and Specialty Solutions. The Electronics division specializes in a wide array of sensors, including reed relays, fluid level, proximity, motion, flow, and HVAC condensate, along with custom electronic sensing solutions. It also delivers cutting-edge current sense and advanced planar transformer technologies, value-added assemblies, mechanical packaging, and bespoke wound transformers and inductors for both low and high-frequency applications. The Engraving segment offers mold texturizing, produces slush molding tools, provides roll engraving, and manufactures tooling for hygiene products and low observation vents. Additionally, it supplies project management and design services tailored for stealth aircraft, alongside process machinery for various industries.
SXI (Standex International Corporation) trades in the Industrials sector, specifically Industrial - Machinery, with a market capitalization of approximately $4.13B, a trailing P/E of 41.45, a beta of 1.09 versus the broader market, a 52-week range of 152.64-344.3, average daily share volume of 206K, a public-listing history dating back to 1969, approximately 4K full-time employees. These structural characteristics shape how SXI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.09 places SXI roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 41.45 is on the rich side, which tends to correlate with higher earnings-window IV expansion as the market debates whether forward growth supports the multiple. SXI pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on SXI?
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 SXI snapshot
As of June 30, 2026, spot at $362.33, ATM IV 35.00%, IV rank 58.13%, expected move 10.03%. The iron condor on SXI 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 SXI specifically: SXI IV at 35.00% is mid-range versus its 1-year history, so the credit collected on a SXI iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 10.03% (roughly $36.36 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 SXI expiries trade a higher absolute premium for lower per-day decay. Position sizing on SXI should anchor to the underlying notional of $362.33 per share and to the trader's directional view on SXI stock.
SXI iron condor setup
The SXI 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 SXI near $362.33, the first option leg uses a $380.45 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed SXI 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 SXI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $380.45 | N/A |
| Buy 1 | Call | $398.56 | N/A |
| Sell 1 | Put | $344.21 | N/A |
| Buy 1 | Put | $326.10 | N/A |
SXI 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.
SXI iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on SXI. 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 SXI
Iron condors on SXI are a delta-neutral premium-collection structure that profits if SXI stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
SXI thesis for this iron condor
The market-implied 1-standard-deviation range for SXI extends from approximately $325.97 on the downside to $398.69 on the upside. A SXI iron condor is a delta-neutral premium-collection structure that pays off when SXI 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 SXI IV rank near 58.13% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on SXI should anchor more to the directional view and the expected-move geometry. As a Industrials name, SXI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to SXI-specific events.
SXI 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. SXI positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move SXI alongside the broader basket even when SXI-specific fundamentals are unchanged. Short-premium structures like a iron condor on SXI carry tail risk when realized volatility exceeds the implied move; review historical SXI earnings reactions and macro stress periods before sizing. Always rebuild the position from current SXI chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on SXI?
- A iron condor on SXI is the iron condor strategy applied to SXI (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 SXI stock trading near $362.33, the strikes shown on this page are snapped to the nearest listed SXI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are SXI 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 SXI iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 35.00%), 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 SXI iron condor?
- The breakeven for the SXI 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 SXI market-implied 1-standard-deviation expected move is approximately 10.03%; 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 SXI?
- Iron condors on SXI are a delta-neutral premium-collection structure that profits if SXI stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current SXI implied volatility affect this iron condor?
- SXI ATM IV is at 35.00% with IV rank near 58.13%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.