How are XOM 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 XOM iron condor priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 25.90%), the computed maximum profit is $233.50 per contract and the computed maximum loss is -$616.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a XOM iron condor?

The breakeven for the XOM iron condor priced on this page is roughly $150.17 and $169.84 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 XOM market-implied 1-standard-deviation expected move in the same options snapshot is approximately 7.43%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current XOM implied volatility affect this iron condor?

XOM ATM IV is at 25.90% with IV rank near 45.45%, 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.

XOM Iron Condor Strategy

XOM (Exxon Mobil Corporation), in the Energy sector, (Oil & Gas Integrated industry), listed on NYSE.

Exxon Mobil Corporation is a global energy firm that undertakes the exploration and extraction of oil and natural gas resources across its domestic operations and international territories. The company organizes its vast activities into three primary divisions: Upstream, Downstream, and Chemical. Beyond resource acquisition, Exxon Mobil is deeply engaged in the manufacturing, commercial trading, logistical transportation, and marketing of crude oil, natural gas, refined petroleum goods, a wide array of petrochemicals (including olefins, polyolefins, and aromatics), and other specialized chemical products. Furthermore, the company is actively developing solutions in carbon capture and storage, hydrogen, and biofuels. As of December 31, 2021, the corporation maintained approximately 20,528 net operational wells with verified reserves. Founded in 1870, Exxon Mobil's corporate headquarters are located in Irving, Texas.

XOM (Exxon Mobil Corporation) trades in the Energy sector, specifically Oil & Gas Integrated, with a market capitalization of approximately $662.12B, a trailing P/E of 20.36, a beta of 0.16 versus the broader market, a 52-week range of 105.67-176.41, average daily share volume of 17.5M, a public-listing history dating back to 1978, approximately 58K full-time employees. These structural characteristics shape how XOM stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.16 indicates XOM has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. XOM pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a iron condor on XOM?

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.

XOM snapshot

As of August 14, 2026, spot at $159.96, ATM IV 25.90%, IV rank 45.45%, expected move 7.43%. The iron condor on XOM 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 XOM specifically: XOM IV at 25.90% is mid-range versus its 1-year history, so the credit collected on a XOM iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 7.43% (roughly $11.88 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 XOM expiries trade a higher absolute premium for lower per-day decay. Position sizing on XOM should anchor to the underlying notional of $159.96 per share and to the trader's directional view on XOM stock.

XOM iron condor setup

The XOM 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 XOM at $159.96 on that close, the first option leg uses a $167.50 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed XOM 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 XOM shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$167.50	$1.66
Buy 1	Call	$175.00	$0.69
Sell 1	Put	$152.50	$1.85
Buy 1	Put	$144.00	$0.49

XOM iron condor risk and reward

Net Premium / Debit: +$233.50
Max Profit (per contract): $233.50
Max Loss (per contract): -$616.50
Breakeven(s): $150.17, $169.84
Risk / Reward Ratio: 0.379

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.

XOM iron condor payoff curve

Modeled P&L at expiration across a range of underlying prices for the iron condor on XOM. 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%	-$616.50
$35.38	-77.9%	-$616.50
$70.74	-55.8%	-$616.50
$106.11	-33.7%	-$616.50
$141.48	-11.6%	-$616.50
$176.84	+10.6%	-$516.50
$212.21	+32.7%	-$516.50
$247.58	+54.8%	-$516.50
$282.95	+76.9%	-$516.50
$318.31	+99.0%	-$516.50

When traders use iron condor on XOM

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

XOM thesis for this iron condor

The market-implied 1-standard-deviation range for XOM extends from approximately $148.08 on the downside to $171.84 on the upside. A XOM iron condor is a delta-neutral premium-collection structure that pays off when XOM 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 XOM IV rank near 45.45% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on XOM should anchor more to the directional view and the expected-move geometry. As a Energy name, XOM options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to XOM-specific events.

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

Frequently asked questions

What is a iron condor on XOM?: A iron condor on XOM is the iron condor strategy applied to XOM (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 XOM stock at $159.96 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed XOM chain strike and the premiums come straight from that session's bid/ask midpoint.
How are XOM 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 XOM iron condor priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 25.90%), the computed maximum profit is $233.50 per contract and the computed maximum loss is -$616.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a XOM iron condor?: The breakeven for the XOM iron condor priced on this page is roughly $150.17 and $169.84 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 XOM market-implied 1-standard-deviation expected move in the same options snapshot is approximately 7.43%; 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 XOM?: Iron condors on XOM are a delta-neutral premium-collection structure that profits if XOM stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
How does current XOM implied volatility affect this iron condor?: XOM ATM IV is at 25.90% with IV rank near 45.45%, 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.