TDY Iron Condor Strategy
TDY (Teledyne Technologies Incorporated), in the Technology sector, (Hardware, Equipment & Parts industry), listed on NYSE.
Teledyne Technologies Incorporated develops and supplies advanced technologies primarily for industrial sectors experiencing growth, serving customers across the United States, Canada, the United Kingdom, Belgium, the Netherlands, and other international markets. The company's Instrumentation division provides sophisticated monitoring and control equipment for use in marine environments, environmental management, various industrial processes, and other specialized applications. It also offers electronic tools for testing and measurement, alongside connectivity devices for power and communication within distributed instrumentation setups and sensor networks. Its Digital Imaging segment specializes in a broad range of imaging solutions. This includes visible spectrum sensors and digital cameras vital for industrial machine vision, automated quality control, as well as medical, research, and scientific purposes. Additionally, it offers infrared and X-ray imaging technologies for industrial, governmental, and healthcare applications.
TDY (Teledyne Technologies Incorporated) trades in the Technology sector, specifically Hardware, Equipment & Parts, with a market capitalization of approximately $28.92B, a trailing P/E of 31.31, a beta of 0.94 versus the broader market, a 52-week range of 483.02-693.38, average daily share volume of 332K, a public-listing history dating back to 1999, approximately 15K full-time employees. These structural characteristics shape how TDY stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.94 places TDY roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.
What is a iron condor on TDY?
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 TDY snapshot
As of June 30, 2026, spot at $668.17, ATM IV 30.40%, IV rank 64.79%, expected move 8.72%. The iron condor on TDY 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 TDY specifically: TDY IV at 30.40% is mid-range versus its 1-year history, so the credit collected on a TDY iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 8.72% (roughly $58.23 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 TDY expiries trade a higher absolute premium for lower per-day decay. Position sizing on TDY should anchor to the underlying notional of $668.17 per share and to the trader's directional view on TDY stock.
TDY iron condor setup
The TDY 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 TDY near $668.17, the first option leg uses a $700.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed TDY 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 TDY shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $700.00 | $6.60 |
| Buy 1 | Call | $730.00 | $0.85 |
| Sell 1 | Put | $630.00 | $5.30 |
| Buy 1 | Put | $600.00 | $1.99 |
TDY iron condor risk and reward
- Net Premium / Debit
- +$906.00
- Max Profit (per contract)
- $906.00
- Max Loss (per contract)
- -$2,094.00
- Breakeven(s)
- $620.94, $709.06
- Risk / Reward Ratio
- 0.433
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.
TDY iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on TDY. 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.
| Underlying Price | % From Spot | P&L at Expiration |
|---|---|---|
| $0.01 | -100.0% | -$2,094.00 |
| $147.74 | -77.9% | -$2,094.00 |
| $295.48 | -55.8% | -$2,094.00 |
| $443.21 | -33.7% | -$2,094.00 |
| $590.95 | -11.6% | -$2,094.00 |
| $738.68 | +10.6% | -$2,094.00 |
| $886.42 | +32.7% | -$2,094.00 |
| $1,034.15 | +54.8% | -$2,094.00 |
| $1,181.89 | +76.9% | -$2,094.00 |
| $1,329.62 | +99.0% | -$2,094.00 |
When traders use iron condor on TDY
Iron condors on TDY are a delta-neutral premium-collection structure that profits if TDY stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
TDY thesis for this iron condor
The market-implied 1-standard-deviation range for TDY extends from approximately $609.94 on the downside to $726.40 on the upside. A TDY iron condor is a delta-neutral premium-collection structure that pays off when TDY 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 TDY IV rank near 64.79% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on TDY should anchor more to the directional view and the expected-move geometry. As a Technology name, TDY options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to TDY-specific events.
TDY 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. TDY positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move TDY alongside the broader basket even when TDY-specific fundamentals are unchanged. Short-premium structures like a iron condor on TDY carry tail risk when realized volatility exceeds the implied move; review historical TDY earnings reactions and macro stress periods before sizing. Always rebuild the position from current TDY chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on TDY?
- A iron condor on TDY is the iron condor strategy applied to TDY (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 TDY stock trading near $668.17, the strikes shown on this page are snapped to the nearest listed TDY chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are TDY 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 TDY iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 30.40%), the computed maximum profit is $906.00 per contract and the computed maximum loss is -$2,094.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a TDY iron condor?
- The breakeven for the TDY iron condor priced on this page is roughly $620.94 and $709.06 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 TDY market-implied 1-standard-deviation expected move is approximately 8.72%; 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 TDY?
- Iron condors on TDY are a delta-neutral premium-collection structure that profits if TDY stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current TDY implied volatility affect this iron condor?
- TDY ATM IV is at 30.40% with IV rank near 64.79%, 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.