TGEN Iron Condor Strategy
TGEN (Tecogen Inc.), in the Industrials sector, (Electrical Equipment & Parts industry), listed on AMEX.
Tecogen Inc. specializes in the design, manufacturing, sales, and ongoing support of industrial and commercial combined heat and power (CHP) systems. These energy solutions cater to a wide range of applications—residential, commercial, recreational, and industrial—both within the United States and internationally. The company's operations are segmented into three main areas: Products, Services, and Energy Production. Its product offerings include: Cogeneration units, such as the InVerde e+ and TecoPower models, which efficiently produce both electricity and hot water. TECOCHILL branded chillers for air conditioning and refrigeration purposes. Tecofrost gas engine-driven compressors used in refrigeration systems.
TGEN (Tecogen Inc.) trades in the Industrials sector, specifically Electrical Equipment & Parts, with a market capitalization of approximately $120.0M, a beta of 2.19 versus the broader market, a 52-week range of 1.94-12.07, average daily share volume of 420K, a public-listing history dating back to 2014, approximately 120 full-time employees. These structural characteristics shape how TGEN stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.19 indicates TGEN 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 TGEN?
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.
TGEN snapshot
As of August 14, 2026, spot at $3.69, ATM IV 149.00%, IV rank 31.72%, expected move 42.72%. The iron condor on TGEN 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 TGEN specifically: TGEN IV at 149.00% is mid-range versus its 1-year history, so the credit collected on a TGEN iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 42.72% (roughly $1.58 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 TGEN expiries trade a higher absolute premium for lower per-day decay. Position sizing on TGEN should anchor to the underlying notional of $3.69 per share and to the trader's directional view on TGEN stock.
TGEN iron condor setup
The TGEN 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 TGEN at $3.69 on that close, the first option leg uses a $3.87 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed TGEN 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 TGEN shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $3.87 | N/A |
| Buy 1 | Call | $4.06 | N/A |
| Sell 1 | Put | $3.51 | N/A |
| Buy 1 | Put | $3.32 | N/A |
TGEN 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.
TGEN iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on TGEN. 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 TGEN
Iron condors on TGEN are a delta-neutral premium-collection structure that profits if TGEN stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
TGEN thesis for this iron condor
The market-implied 1-standard-deviation range for TGEN extends from approximately $2.11 on the downside to $5.27 on the upside. A TGEN iron condor is a delta-neutral premium-collection structure that pays off when TGEN 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 TGEN IV rank near 31.72% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on TGEN should anchor more to the directional view and the expected-move geometry. As a Industrials name, TGEN options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to TGEN-specific events.
TGEN 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. TGEN positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move TGEN alongside the broader basket even when TGEN-specific fundamentals are unchanged. Short-premium structures like a iron condor on TGEN carry tail risk when realized volatility exceeds the implied move; review historical TGEN earnings reactions and macro stress periods before sizing. Always rebuild the position from current TGEN chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on TGEN?
- A iron condor on TGEN is the iron condor strategy applied to TGEN (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 TGEN stock at $3.69 on the most recent close, the strikes shown on this page are snapped to the nearest listed TGEN chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are TGEN 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 TGEN iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 149.00%), 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 TGEN iron condor?
- The breakeven for the TGEN 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 TGEN market-implied 1-standard-deviation expected move in the same options snapshot is approximately 42.72%; 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 TGEN?
- Iron condors on TGEN are a delta-neutral premium-collection structure that profits if TGEN stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current TGEN implied volatility affect this iron condor?
- TGEN ATM IV is at 149.00% with IV rank near 31.72%, 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.