TEAD Iron Condor Strategy
TEAD (Teads Holding Co.), in the Technology sector, (Software - Application industry), listed on NASDAQ.
Teads Holding Co., together with its subsidiaries, operates a technology platform that connects media owners and advertisers with engaged audiences to drive business outcomes in the United States, Europe, the Middle East, Africa, and internationally. The company operates a two-sided marketplace, forming an end-to-end advertising platform with direct media owner and advertiser relationships. It also provides advertising solutions for advertisers, including a CPC performance platform and CPM-based managed and self-service platforms, and bespoke creative studio solutions that provide data-driven creative tailored to various environments and channels. In addition, the company offers budgets spanning video, display, native, and performance advertising services and technology solutions that enable media owners to deeply engage their audiences, increasing the total revenue opportunity media owners can realize. Teads Holding Co. was formerly known as Outbrain Inc. and changed its name to Teads Holding Co. in June 2025. Teads Holding Co. was incorporated in 2006 and is headquartered in New York, New York.
TEAD (Teads Holding Co.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $92.8M, a beta of 1.51 versus the broader market, a 52-week range of 0.532-3.13, average daily share volume of 418K, a public-listing history dating back to 2021, approximately 2K full-time employees. These structural characteristics shape how TEAD stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.51 indicates TEAD has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.
What is a iron condor on TEAD?
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 TEAD snapshot
As of May 15, 2026, spot at $0.95, ATM IV 1.00%, IV rank 0.00%, expected move 0.29%. The iron condor on TEAD 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 TEAD specifically: TEAD IV at 1.00% is on the cheap side of its 1-year range, which means a premium-selling TEAD iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 0.29% (roughly $0.00 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 TEAD expiries trade a higher absolute premium for lower per-day decay. Position sizing on TEAD should anchor to the underlying notional of $0.95 per share and to the trader's directional view on TEAD stock.
TEAD iron condor setup
The TEAD 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 TEAD near $0.95, the first option leg uses a $1.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed TEAD 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 TEAD shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $1.00 | N/A |
| Buy 1 | Call | $1.05 | N/A |
| Sell 1 | Put | $0.90 | N/A |
| Buy 1 | Put | $0.86 | N/A |
TEAD 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.
TEAD iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on TEAD. 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 TEAD
Iron condors on TEAD are a delta-neutral premium-collection structure that profits if TEAD stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
TEAD thesis for this iron condor
The market-implied 1-standard-deviation range for TEAD extends from approximately $0.95 on the downside to $0.95 on the upside. A TEAD iron condor is a delta-neutral premium-collection structure that pays off when TEAD 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 TEAD IV rank near 0.00% 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 TEAD at 1.00%. As a Technology name, TEAD options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to TEAD-specific events.
TEAD 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. TEAD positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move TEAD alongside the broader basket even when TEAD-specific fundamentals are unchanged. Short-premium structures like a iron condor on TEAD carry tail risk when realized volatility exceeds the implied move; review historical TEAD earnings reactions and macro stress periods before sizing. Always rebuild the position from current TEAD chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on TEAD?
- A iron condor on TEAD is the iron condor strategy applied to TEAD (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 TEAD stock trading near $0.95, the strikes shown on this page are snapped to the nearest listed TEAD chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are TEAD 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 TEAD iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 1.00%), 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 TEAD iron condor?
- The breakeven for the TEAD 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 TEAD market-implied 1-standard-deviation expected move is approximately 0.29%; 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 TEAD?
- Iron condors on TEAD are a delta-neutral premium-collection structure that profits if TEAD stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current TEAD implied volatility affect this iron condor?
- TEAD ATM IV is at 1.00% with IV rank near 0.00%, 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.