How are ZETA 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 ZETA iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 70.53%), the computed maximum profit is $79.00 per contract and the computed maximum loss is -$21.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a ZETA iron condor?

The breakeven for the ZETA iron condor priced on this page is roughly $18.21 and $21.79 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 ZETA market-implied 1-standard-deviation expected move is approximately 20.22%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current ZETA implied volatility affect this iron condor?

ZETA ATM IV is at 70.53% with IV rank near 29.42%, 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.

ZETA Iron Condor Strategy

ZETA (Zeta Global Holdings Corp.), in the Technology sector, (Software - Application industry), listed on NYSE.

Zeta Global Holdings Corp. provides a sophisticated, data-driven cloud platform globally, empowering enterprises with advanced consumer intelligence and automated marketing software. Its core offering, the Zeta Marketing Platform (ZMP), processes billions of diverse data points—both structured and unstructured—to predict consumer intent through advanced machine learning algorithms and an extensive, opted-in industry dataset for seamless omnichannel marketing. Complementing this, the Consumer Data Platform (CDP) integrates, analyzes, and distills disparate data to form a unified view of individual consumers, detailing their identity, profile characteristics, behaviors, and purchase inclinations. The company also offers specialized product suites, such as "Opportunity Explorer" and "CDP+," designed to consolidate multiple internal and external data feeds and organize information to meet specific needs and performance targets. Zeta Global Holdings Corp. was founded in 2007 and is headquartered in New York, New York.

ZETA (Zeta Global Holdings Corp.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $4.73B, a beta of 1.35 versus the broader market, a 52-week range of 13.74-25.95, average daily share volume of 8.9M, a public-listing history dating back to 2021, approximately 2K full-time employees. These structural characteristics shape how ZETA stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.35 indicates ZETA has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.

What is a iron condor on ZETA?

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 ZETA snapshot

As of June 29, 2026, spot at $19.81, ATM IV 70.53%, IV rank 29.42%, expected move 20.22%. The iron condor on ZETA 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 32-day expiry.

Why this iron condor structure on ZETA specifically: ZETA IV at 70.53% is on the cheap side of its 1-year range, which means a premium-selling ZETA iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 20.22% (roughly $4.01 on the underlying). The 32-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated ZETA expiries trade a higher absolute premium for lower per-day decay. Position sizing on ZETA should anchor to the underlying notional of $19.81 per share and to the trader's directional view on ZETA stock.

ZETA iron condor setup

The ZETA 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 ZETA near $19.81, the first option leg uses a $21.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ZETA chain at a 32-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 ZETA shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$21.00	$1.30
Buy 1	Call	$22.00	$0.90
Sell 1	Put	$19.00	$1.26
Buy 1	Put	$18.00	$0.87

ZETA iron condor risk and reward

Net Premium / Debit: +$79.00
Max Profit (per contract): $79.00
Max Loss (per contract): -$21.00
Breakeven(s): $18.21, $21.79
Risk / Reward Ratio: 3.762

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.

ZETA iron condor payoff curve

Modeled P&L at expiration across a range of underlying prices for the iron condor on ZETA. 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	-99.9%	-$21.00
$4.39	-77.8%	-$21.00
$8.77	-55.7%	-$21.00
$13.15	-33.6%	-$21.00
$17.53	-11.5%	-$21.00
$21.90	+10.6%	-$11.50
$26.28	+32.7%	-$21.00
$30.66	+54.8%	-$21.00
$35.04	+76.9%	-$21.00
$39.42	+99.0%	-$21.00

When traders use iron condor on ZETA

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

ZETA thesis for this iron condor

The market-implied 1-standard-deviation range for ZETA extends from approximately $15.80 on the downside to $23.82 on the upside. A ZETA iron condor is a delta-neutral premium-collection structure that pays off when ZETA 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 ZETA IV rank near 29.42% 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 ZETA at 70.53%. As a Technology name, ZETA options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ZETA-specific events.

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

Frequently asked questions

What is a iron condor on ZETA?: A iron condor on ZETA is the iron condor strategy applied to ZETA (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 ZETA stock trading near $19.81, the strikes shown on this page are snapped to the nearest listed ZETA chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are ZETA 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 ZETA iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 70.53%), the computed maximum profit is $79.00 per contract and the computed maximum loss is -$21.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a ZETA iron condor?: The breakeven for the ZETA iron condor priced on this page is roughly $18.21 and $21.79 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 ZETA market-implied 1-standard-deviation expected move is approximately 20.22%; 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 ZETA?: Iron condors on ZETA are a delta-neutral premium-collection structure that profits if ZETA stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
How does current ZETA implied volatility affect this iron condor?: ZETA ATM IV is at 70.53% with IV rank near 29.42%, 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.