TFX Iron Condor Strategy
TFX (Teleflex Incorporated), in the Healthcare sector, (Medical - Instruments & Supplies industry), listed on NYSE.
Teleflex Incorporated is a global medical technology company dedicated to designing, developing, manufacturing, and distributing single-use medical devices. These products are crucial for diagnostic and therapeutic procedures, particularly within critical care and surgical environments worldwide. Its comprehensive product portfolio includes: Vascular Access Solutions: Featuring the "Arrow" brand, these include catheters, advanced catheter navigation and tip positioning systems, and intraosseous access systems. They are essential for administering intravenous therapies, monitoring blood pressure, and drawing blood samples, all achievable through a single access point. Interventional Cardiology & Radiology Products: This segment covers various coronary catheters, therapies for structural heart conditions, and devices for peripheral intervention and cardiac assist. Key users include interventional cardiologists, radiologists, and vascular surgeons.
TFX (Teleflex Incorporated) trades in the Healthcare sector, specifically Medical - Instruments & Supplies, with a market capitalization of approximately $6.03B, a beta of 0.81 versus the broader market, a 52-week range of 100.18-145, average daily share volume of 674K, a public-listing history dating back to 1980, approximately 16K full-time employees. These structural characteristics shape how TFX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.81 places TFX roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. TFX pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on TFX?
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.
TFX snapshot
As of August 14, 2026, spot at $136.53, ATM IV 36.60%, IV rank 2.35%, expected move 10.49%. The iron condor on TFX below is built from the August 14, 2026 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 TFX specifically: TFX IV at 36.60% is on the cheap side of its 1-year range, which means a premium-selling TFX iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 10.49% (roughly $14.33 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 TFX expiries trade a higher absolute premium for lower per-day decay. Position sizing on TFX should anchor to the underlying notional of $136.53 per share and to the trader's directional view on TFX stock.
TFX iron condor setup
The TFX iron condor below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With TFX at $136.53 on that close, the first option leg uses a $145.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed TFX 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 TFX shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $145.00 | $2.85 |
| Buy 1 | Call | $150.00 | $2.50 |
| Sell 1 | Put | $130.00 | $3.25 |
| Buy 1 | Put | $125.00 | $1.78 |
TFX iron condor risk and reward
- Net Premium / Debit
- +$182.00
- Max Profit (per contract)
- $182.00
- Max Loss (per contract)
- -$318.00
- Breakeven(s)
- $128.18, $146.82
- Risk / Reward Ratio
- 0.572
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.
TFX iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on TFX. 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% | -$318.00 |
| $30.20 | -77.9% | -$318.00 |
| $60.38 | -55.8% | -$318.00 |
| $90.57 | -33.7% | -$318.00 |
| $120.76 | -11.6% | -$318.00 |
| $150.94 | +10.6% | -$318.00 |
| $181.13 | +32.7% | -$318.00 |
| $211.32 | +54.8% | -$318.00 |
| $241.50 | +76.9% | -$318.00 |
| $271.69 | +99.0% | -$318.00 |
When traders use iron condor on TFX
Iron condors on TFX are a delta-neutral premium-collection structure that profits if TFX stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
TFX thesis for this iron condor
The market-implied 1-standard-deviation range for TFX extends from approximately $122.20 on the downside to $150.86 on the upside. A TFX iron condor is a delta-neutral premium-collection structure that pays off when TFX 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 TFX IV rank near 2.35% 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 TFX at 36.60%. As a Healthcare name, TFX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to TFX-specific events.
TFX 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. TFX positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move TFX alongside the broader basket even when TFX-specific fundamentals are unchanged. Short-premium structures like a iron condor on TFX carry tail risk when realized volatility exceeds the implied move; review historical TFX earnings reactions and macro stress periods before sizing. Always rebuild the position from current TFX chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on TFX?
- A iron condor on TFX is the iron condor strategy applied to TFX (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 TFX stock at $136.53 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed TFX chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are TFX 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 TFX iron condor priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 36.60%), the computed maximum profit is $182.00 per contract and the computed maximum loss is -$318.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a TFX iron condor?
- The breakeven for the TFX iron condor priced on this page is roughly $128.18 and $146.82 at expiration, derived from the August 14, 2026 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 TFX market-implied 1-standard-deviation expected move in the same options snapshot is approximately 10.49%; 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 TFX?
- Iron condors on TFX are a delta-neutral premium-collection structure that profits if TFX stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current TFX implied volatility affect this iron condor?
- TFX ATM IV is at 36.60% with IV rank near 2.35%, 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.