VPG Iron Condor Strategy
VPG (Vishay Precision Group, Inc.), in the Technology sector, (Hardware, Equipment & Parts industry), listed on NYSE.
Vishay Precision Group, Inc. engages in the precision measurement and sensing technologies business in the United States, Europe, Israel, Asia, and Canada. It operates through three segments: Sensors, Weighing Solutions, and Measurement Systems. The company offers precision resistors, strain gages, load cells and force measurement transducers, vehicle weighing and over-load monitoring systems, and control process weighing products; rolling force measuring load cell systems and pressure transmitters; web tension measurement load cells and systems; optical strip width gages; and laser velocimeters for speed and length measurements and closed-loop crop optimization control systems for optimal strip cuts. The company also offers thermal-mechanical simulation systems for metallurgical research; conditioning, data acquisition, and control systems; and data acquisition systems and sensors for product safety testing, as well as electronic displays, signal processors, micro-electromechanical system sensors, cabling, system software, and communications software/hardware. Its products are used in waste management, bulk hauling, logging, scales manufacturing, engineering systems, pharmaceutical, oil, chemical, steel, paper, and food industries, as well as test and measurement, steel, medical, construction, agricultural, and consumer markets. The company offers its products under the VFR, Alpha Electronics, Powertron, APR, Celtron, Revere, Sensortronics, Tedea-Huntleigh, Stress-tek, Vulcan, BLH Nobel, KELK, Gleeble, DTS, and Pacific Instruments brands.
VPG (Vishay Precision Group, Inc.) trades in the Technology sector, specifically Hardware, Equipment & Parts, with a market capitalization of approximately $934.2M, a trailing P/E of 257.21, a beta of 1.47 versus the broader market, a 52-week range of 26.74-151.78, average daily share volume of 528K, a public-listing history dating back to 2010, approximately 2K full-time employees. These structural characteristics shape how VPG stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.47 indicates VPG has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. The trailing P/E of 257.21 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 VPG?
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.
VPG snapshot
As of August 14, 2026, spot at $71.98, ATM IV 85.30%, IV rank 34.07%, expected move 24.45%. The iron condor on VPG 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 VPG specifically: VPG IV at 85.30% is mid-range versus its 1-year history, so the credit collected on a VPG iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 24.45% (roughly $17.60 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 VPG expiries trade a higher absolute premium for lower per-day decay. Position sizing on VPG should anchor to the underlying notional of $71.98 per share and to the trader's directional view on VPG stock.
VPG iron condor setup
The VPG 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 VPG at $71.98 on that close, the first option leg uses a $75.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed VPG 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 VPG shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $75.00 | $6.45 |
| Buy 1 | Call | $80.00 | $4.40 |
| Sell 1 | Put | $70.00 | $6.40 |
| Buy 1 | Put | $65.00 | $4.35 |
VPG iron condor risk and reward
- Net Premium / Debit
- +$410.00
- Max Profit (per contract)
- $410.00
- Max Loss (per contract)
- -$90.00
- Breakeven(s)
- $65.90, $79.10
- Risk / Reward Ratio
- 4.556
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.
VPG iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on VPG. 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% | -$90.00 |
| $15.92 | -77.9% | -$90.00 |
| $31.84 | -55.8% | -$90.00 |
| $47.75 | -33.7% | -$90.00 |
| $63.67 | -11.6% | -$90.00 |
| $79.58 | +10.6% | -$48.04 |
| $95.49 | +32.7% | -$90.00 |
| $111.41 | +54.8% | -$90.00 |
| $127.32 | +76.9% | -$90.00 |
| $143.24 | +99.0% | -$90.00 |
When traders use iron condor on VPG
Iron condors on VPG are a delta-neutral premium-collection structure that profits if VPG stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
VPG thesis for this iron condor
The market-implied 1-standard-deviation range for VPG extends from approximately $54.38 on the downside to $89.58 on the upside. A VPG iron condor is a delta-neutral premium-collection structure that pays off when VPG 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 VPG IV rank near 34.07% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on VPG should anchor more to the directional view and the expected-move geometry. As a Technology name, VPG options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to VPG-specific events.
VPG 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. VPG positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move VPG alongside the broader basket even when VPG-specific fundamentals are unchanged. Short-premium structures like a iron condor on VPG carry tail risk when realized volatility exceeds the implied move; review historical VPG earnings reactions and macro stress periods before sizing. Always rebuild the position from current VPG chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on VPG?
- A iron condor on VPG is the iron condor strategy applied to VPG (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 VPG stock at $71.98 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed VPG chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are VPG 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 VPG iron condor priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 85.30%), the computed maximum profit is $410.00 per contract and the computed maximum loss is -$90.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a VPG iron condor?
- The breakeven for the VPG iron condor priced on this page is roughly $65.90 and $79.10 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 VPG market-implied 1-standard-deviation expected move in the same options snapshot is approximately 24.45%; 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 VPG?
- Iron condors on VPG are a delta-neutral premium-collection structure that profits if VPG stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current VPG implied volatility affect this iron condor?
- VPG ATM IV is at 85.30% with IV rank near 34.07%, 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.