How are TRI 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 TRI iron condor priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 48.50%), the computed maximum profit is $385.00 per contract and the computed maximum loss is -$115.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a TRI iron condor?

The breakeven for the TRI iron condor priced on this page is roughly $96.15 and $113.85 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 TRI market-implied 1-standard-deviation expected move in the same options snapshot is approximately 13.90%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current TRI implied volatility affect this iron condor?

TRI ATM IV is at 48.50% with IV rank near 59.58%, 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.

TRI Iron Condor Strategy

TRI (Thomson Reuters Corporation), in the Industrials sector, (Specialty Business Services industry), listed on NASDAQ.

Thomson Reuters Corporation delivers essential business information services worldwide, with operations spanning the Americas, Europe, the Middle East, Africa, and the Asia Pacific region. The company is structured into five distinct divisions: Legal Professionals, Corporates, Tax & Accounting Professionals, Reuters News, and Global Print. For legal professionals, including law firms and governmental bodies, the Legal Professionals segment furnishes integrated workflow solutions. These comprehensive offerings blend specialized content, sophisticated tools, and powerful analytics to enhance legal research and operational efficiency. The Corporates segment provides a robust suite of technology solutions, infused with critical content, tailored for professionals navigating corporate legal, tax, regulatory, compliance, and IT landscapes. Serving tax, accounting, and audit specialists primarily within accounting firms, the Tax & Accounting Professionals division focuses on delivering research and workflow products that streamline tax processes and automate related tasks.

TRI (Thomson Reuters Corporation) trades in the Industrials sector, specifically Specialty Business Services, with a market capitalization of approximately $45.23B, a trailing P/E of 27.65, a beta of 0.17 versus the broader market, a 52-week range of 76.28-180, average daily share volume of 2.1M, a public-listing history dating back to 2002, approximately 27K full-time employees. These structural characteristics shape how TRI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.17 indicates TRI has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. TRI pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a iron condor on TRI?

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.

TRI snapshot

As of August 14, 2026, spot at $103.50, ATM IV 48.50%, IV rank 59.58%, expected move 13.90%. The iron condor on TRI 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 TRI specifically: TRI IV at 48.50% is mid-range versus its 1-year history, so the credit collected on a TRI iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 13.90% (roughly $14.39 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 TRI expiries trade a higher absolute premium for lower per-day decay. Position sizing on TRI should anchor to the underlying notional of $103.50 per share and to the trader's directional view on TRI stock.

TRI iron condor setup

The TRI 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 TRI at $103.50 on that close, the first option leg uses a $110.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed TRI 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 TRI shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$110.00	$3.40
Buy 1	Call	$115.00	$1.98
Sell 1	Put	$100.00	$4.70
Buy 1	Put	$95.00	$2.28

TRI iron condor risk and reward

Net Premium / Debit: +$385.00
Max Profit (per contract): $385.00
Max Loss (per contract): -$115.00
Breakeven(s): $96.15, $113.85
Risk / Reward Ratio: 3.348

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.

TRI iron condor payoff curve

Modeled P&L at expiration across a range of underlying prices for the iron condor on TRI. 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.

P&L at expiration across the modeled underlying-price range. Green shading marks profitable regions, red shading marks loss regions. Dotted purple verticals mark breakevens; the solid dark vertical marks current spot.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-100.0%	-$115.00
$22.89	-77.9%	-$115.00
$45.78	-55.8%	-$115.00
$68.66	-33.7%	-$115.00
$91.54	-11.6%	-$115.00
$114.43	+10.6%	-$57.66
$137.31	+32.7%	-$115.00
$160.19	+54.8%	-$115.00
$183.08	+76.9%	-$115.00
$205.96	+99.0%	-$115.00

When traders use iron condor on TRI

Iron condors on TRI are a delta-neutral premium-collection structure that profits if TRI stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.

TRI thesis for this iron condor

The market-implied 1-standard-deviation range for TRI extends from approximately $89.11 on the downside to $117.89 on the upside. A TRI iron condor is a delta-neutral premium-collection structure that pays off when TRI 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 TRI IV rank near 59.58% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on TRI should anchor more to the directional view and the expected-move geometry. As a Industrials name, TRI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to TRI-specific events.

TRI 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. TRI positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move TRI alongside the broader basket even when TRI-specific fundamentals are unchanged. Short-premium structures like a iron condor on TRI carry tail risk when realized volatility exceeds the implied move; review historical TRI earnings reactions and macro stress periods before sizing. Always rebuild the position from current TRI chain quotes before placing a trade.

Frequently asked questions

What is a iron condor on TRI?: A iron condor on TRI is the iron condor strategy applied to TRI (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 TRI stock at $103.50 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed TRI chain strike and the premiums come straight from that session's bid/ask midpoint.
How are TRI 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 TRI iron condor priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 48.50%), the computed maximum profit is $385.00 per contract and the computed maximum loss is -$115.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a TRI iron condor?: The breakeven for the TRI iron condor priced on this page is roughly $96.15 and $113.85 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 TRI market-implied 1-standard-deviation expected move in the same options snapshot is approximately 13.90%; 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 TRI?: Iron condors on TRI are a delta-neutral premium-collection structure that profits if TRI stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
How does current TRI implied volatility affect this iron condor?: TRI ATM IV is at 48.50% with IV rank near 59.58%, 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.