UNTY Iron Condor Strategy
UNTY (Unity Bancorp, Inc.), in the Financial Services sector, (Banks - Regional industry), listed on NASDAQ.
As the parent entity of Unity Bank, Unity Bancorp, Inc. delivers a comprehensive range of commercial and retail banking solutions, catering to individual consumers, small and mid-sized enterprises, and professional organizations. Its product portfolio encompasses various deposit accounts, such as personal and business checking, certificates of deposit (time deposits), money market accounts, and traditional savings accounts, alongside both interest-earning and non-interest-bearing demand deposit options. Furthermore, the bank extends a variety of lending products, including Small Business Administration (SBA) loans, commercial financing, and consumer credit facilities, which feature residential mortgages, home equity lines of credit and loans, residential construction financing, and personal loans. Customers can access these services both online and through its network of nineteen physical branches, strategically situated across Bergen, Hunterdon, Middlesex, Somerset, Union, and Warren counties in New Jersey, and Northampton County in Pennsylvania. Established in 1991, Unity Bancorp, Inc. maintains its corporate headquarters in Clinton, New Jersey.
UNTY (Unity Bancorp, Inc.) trades in the Financial Services sector, specifically Banks - Regional, with a market capitalization of approximately $618.5M, a trailing P/E of 10.53, a beta of 0.63 versus the broader market, a 52-week range of 44.34-61.725, average daily share volume of 59K, a public-listing history dating back to 1997, approximately 249 full-time employees. These structural characteristics shape how UNTY stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.63 indicates UNTY has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. The trailing P/E of 10.53 is on the value side, where IV often compresses outside event windows because forward growth expectations are already discounted into the share price. UNTY pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on UNTY?
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.
UNTY snapshot
As of August 14, 2026, spot at $61.50, ATM IV 34.70%, IV rank 5.73%, expected move 9.95%. The iron condor on UNTY 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 UNTY specifically: UNTY IV at 34.70% is on the cheap side of its 1-year range, which means a premium-selling UNTY iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 9.95% (roughly $6.12 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 UNTY expiries trade a higher absolute premium for lower per-day decay. Position sizing on UNTY should anchor to the underlying notional of $61.50 per share and to the trader's directional view on UNTY stock.
UNTY iron condor setup
The UNTY 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 UNTY at $61.50 on that close, the first option leg uses a $64.58 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed UNTY 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 UNTY shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $64.58 | N/A |
| Buy 1 | Call | $67.65 | N/A |
| Sell 1 | Put | $58.43 | N/A |
| Buy 1 | Put | $55.35 | N/A |
UNTY 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.
UNTY iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on UNTY. 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 UNTY
Iron condors on UNTY are a delta-neutral premium-collection structure that profits if UNTY stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
UNTY thesis for this iron condor
The market-implied 1-standard-deviation range for UNTY extends from approximately $55.38 on the downside to $67.62 on the upside. A UNTY iron condor is a delta-neutral premium-collection structure that pays off when UNTY 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 UNTY IV rank near 5.73% 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 UNTY at 34.70%. As a Financial Services name, UNTY options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to UNTY-specific events.
UNTY 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. UNTY positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move UNTY alongside the broader basket even when UNTY-specific fundamentals are unchanged. Short-premium structures like a iron condor on UNTY carry tail risk when realized volatility exceeds the implied move; review historical UNTY earnings reactions and macro stress periods before sizing. Always rebuild the position from current UNTY chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on UNTY?
- A iron condor on UNTY is the iron condor strategy applied to UNTY (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 UNTY stock at $61.50 on the most recent close, the strikes shown on this page are snapped to the nearest listed UNTY chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are UNTY 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 UNTY iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 34.70%), 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 UNTY iron condor?
- The breakeven for the UNTY 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 UNTY market-implied 1-standard-deviation expected move in the same options snapshot is approximately 9.95%; 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 UNTY?
- Iron condors on UNTY are a delta-neutral premium-collection structure that profits if UNTY stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current UNTY implied volatility affect this iron condor?
- UNTY ATM IV is at 34.70% with IV rank near 5.73%, 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.