TTD Iron Condor Strategy
TTD (The Trade Desk, Inc.), in the Technology sector, (Software - Services industry), listed on NASDAQ.
The Trade Desk, Inc. is a global technology company that provides a self-service, cloud-based platform. This platform enables advertising buyers to efficiently create, manage, and optimize data-driven digital ad campaigns across diverse formats and channels, including display, video, audio, native, and social media, reaching audiences on computers, mobile devices, and connected TVs. In addition to the platform, the company offers various data and value-added services. Their primary clients are advertising agencies and other service providers who represent advertisers. The Trade Desk was founded in 2009 and is headquartered in Ventura, California.
TTD (The Trade Desk, Inc.) trades in the Technology sector, specifically Software - Services, with a market capitalization of approximately $6.34B, a trailing P/E of 15.53, a beta of 1.04 versus the broader market, a 52-week range of 12.83-56.39, average daily share volume of 20.7M, a public-listing history dating back to 2016, approximately 4K full-time employees. These structural characteristics shape how TTD stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.04 places TTD 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 TTD?
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.
TTD snapshot
As of August 14, 2026, spot at $14.14, ATM IV 51.14%, IV rank 16.93%, expected move 14.66%. The iron condor on TTD 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 28-day expiry.
Why this iron condor structure on TTD specifically: TTD IV at 51.14% is on the cheap side of its 1-year range, which means a premium-selling TTD iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 14.66% (roughly $2.07 on the underlying). The 28-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated TTD expiries trade a higher absolute premium for lower per-day decay. Position sizing on TTD should anchor to the underlying notional of $14.14 per share and to the trader's directional view on TTD stock.
TTD iron condor setup
The TTD 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 TTD at $14.14 on that close, the first option leg uses a $15.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed TTD chain at a 28-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 TTD shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $15.00 | $0.48 |
| Buy 1 | Call | $15.50 | $0.35 |
| Sell 1 | Put | $13.50 | $0.48 |
| Buy 1 | Put | $12.50 | $0.19 |
TTD iron condor risk and reward
- Net Premium / Debit
- +$42.00
- Max Profit (per contract)
- $42.00
- Max Loss (per contract)
- -$58.00
- Breakeven(s)
- $13.08, $15.42
- Risk / Reward Ratio
- 0.724
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.
TTD iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on TTD. 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 | -99.9% | -$58.00 |
| $3.14 | -77.8% | -$58.00 |
| $6.26 | -55.7% | -$58.00 |
| $9.39 | -33.6% | -$58.00 |
| $12.51 | -11.5% | -$56.87 |
| $15.64 | +10.6% | -$8.00 |
| $18.76 | +32.7% | -$8.00 |
| $21.89 | +54.8% | -$8.00 |
| $25.01 | +76.9% | -$8.00 |
| $28.14 | +99.0% | -$8.00 |
When traders use iron condor on TTD
Iron condors on TTD are a delta-neutral premium-collection structure that profits if TTD stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
TTD thesis for this iron condor
The market-implied 1-standard-deviation range for TTD extends from approximately $12.07 on the downside to $16.21 on the upside. A TTD iron condor is a delta-neutral premium-collection structure that pays off when TTD 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 TTD IV rank near 16.93% 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 TTD at 51.14%. As a Technology name, TTD options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to TTD-specific events.
TTD 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. TTD positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move TTD alongside the broader basket even when TTD-specific fundamentals are unchanged. Short-premium structures like a iron condor on TTD carry tail risk when realized volatility exceeds the implied move; review historical TTD earnings reactions and macro stress periods before sizing. Always rebuild the position from current TTD chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on TTD?
- A iron condor on TTD is the iron condor strategy applied to TTD (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 TTD stock at $14.14 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed TTD chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are TTD 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 TTD iron condor priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 51.14%), the computed maximum profit is $42.00 per contract and the computed maximum loss is -$58.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a TTD iron condor?
- The breakeven for the TTD iron condor priced on this page is roughly $13.08 and $15.42 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 TTD market-implied 1-standard-deviation expected move in the same options snapshot is approximately 14.66%; 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 TTD?
- Iron condors on TTD are a delta-neutral premium-collection structure that profits if TTD stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current TTD implied volatility affect this iron condor?
- TTD ATM IV is at 51.14% with IV rank near 16.93%, 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.