TYL Iron Condor Strategy
TYL (Tyler Technologies, Inc.), in the Technology sector, (Software - Application industry), listed on NYSE.
Tyler Technologies, Inc. provides integrated information management solutions and services for the public sector. The company operates in three segments: Enterprise Software; Appraisal and Tax; and NIC. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools. The company also provides a suite of judicial solutions comprising court case management, court and law enforcement, prosecutor, and supervision systems to handle multi-jurisdictional county or statewide implementations, and single county systems; public safety software solutions; systems and software to automate the appraisal and assessment of real and personal property, as well as tax applications for agencies that bill and collect taxes; planning, regulatory, and maintenance software solutions for public sector agencies; software applications to enhance and automate operations involving records and document management; and data and insights solutions. In addition, it offers software as a service arrangements and electronic document filing solutions for courts and law offices; software and hardware installation, data conversion, training, product modification, and maintenance and support services; and property appraisal outsourcing services for taxing jurisdictions. The company has a strategic collaboration agreement with Amazon Web Services for cloud hosting services.
TYL (Tyler Technologies, Inc.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $12.59B, a trailing P/E of 40.41, a beta of 0.86 versus the broader market, a 52-week range of 283.72-621.34, average daily share volume of 585K, a public-listing history dating back to 1980, approximately 7K full-time employees. These structural characteristics shape how TYL stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.86 places TYL roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 40.41 is on the rich side, which tends to correlate with higher earnings-window IV expansion as the market debates whether forward growth supports the multiple.
What is a iron condor on TYL?
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 TYL snapshot
As of May 15, 2026, spot at $310.14, ATM IV 44.40%, IV rank 59.53%, expected move 12.73%. The iron condor on TYL 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 TYL specifically: TYL IV at 44.40% is mid-range versus its 1-year history, so the credit collected on a TYL iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 12.73% (roughly $39.48 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 TYL expiries trade a higher absolute premium for lower per-day decay. Position sizing on TYL should anchor to the underlying notional of $310.14 per share and to the trader's directional view on TYL stock.
TYL iron condor setup
The TYL 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 TYL near $310.14, the first option leg uses a $330.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed TYL 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 TYL shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $330.00 | $9.65 |
| Buy 1 | Call | $340.00 | $7.40 |
| Sell 1 | Put | $290.00 | $9.60 |
| Buy 1 | Put | $280.00 | $6.90 |
TYL iron condor risk and reward
- Net Premium / Debit
- +$495.00
- Max Profit (per contract)
- $495.00
- Max Loss (per contract)
- -$505.00
- Breakeven(s)
- $285.05, $334.95
- Risk / Reward Ratio
- 0.980
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.
TYL iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on TYL. 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% | -$505.00 |
| $68.58 | -77.9% | -$505.00 |
| $137.16 | -55.8% | -$505.00 |
| $205.73 | -33.7% | -$505.00 |
| $274.30 | -11.6% | -$505.00 |
| $342.87 | +10.6% | -$505.00 |
| $411.45 | +32.7% | -$505.00 |
| $480.02 | +54.8% | -$505.00 |
| $548.59 | +76.9% | -$505.00 |
| $617.16 | +99.0% | -$505.00 |
When traders use iron condor on TYL
Iron condors on TYL are a delta-neutral premium-collection structure that profits if TYL stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
TYL thesis for this iron condor
The market-implied 1-standard-deviation range for TYL extends from approximately $270.66 on the downside to $349.62 on the upside. A TYL iron condor is a delta-neutral premium-collection structure that pays off when TYL 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 TYL IV rank near 59.53% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on TYL should anchor more to the directional view and the expected-move geometry. As a Technology name, TYL options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to TYL-specific events.
TYL 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. TYL positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move TYL alongside the broader basket even when TYL-specific fundamentals are unchanged. Short-premium structures like a iron condor on TYL carry tail risk when realized volatility exceeds the implied move; review historical TYL earnings reactions and macro stress periods before sizing. Always rebuild the position from current TYL chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on TYL?
- A iron condor on TYL is the iron condor strategy applied to TYL (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 TYL stock trading near $310.14, the strikes shown on this page are snapped to the nearest listed TYL chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are TYL 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 TYL iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 44.40%), the computed maximum profit is $495.00 per contract and the computed maximum loss is -$505.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a TYL iron condor?
- The breakeven for the TYL iron condor priced on this page is roughly $285.05 and $334.95 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 TYL market-implied 1-standard-deviation expected move is approximately 12.73%; 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 TYL?
- Iron condors on TYL are a delta-neutral premium-collection structure that profits if TYL stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current TYL implied volatility affect this iron condor?
- TYL ATM IV is at 44.40% with IV rank near 59.53%, 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.