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 59.56%), the computed maximum profit is $66.50 per contract and the computed maximum loss is -$33.50 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 $15.83 and $18.67 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 17.08%; 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 59.56% with IV rank near 14.33%, 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. operates an omnichannel data-driven cloud platform that provides enterprises with consumer intelligence and marketing automation software in the United States and internationally. Its Zeta Marketing Platform analyzes billions of structured and unstructured data points to predict consumer intent by leveraging sophisticated machine learning algorithms and the industry's opted-in data set for omnichannel marketing; and Consumer Data platform ingests, analyzes, and distills disparate data points to generate a single view of a consumer, encompassing identity, profile characteristics, behaviors, and purchase intent. It also offers various types of product suites, such as opportunity explorer, and CDP+, which helps in consolidating multiple databases and internal and external data feeds and organize data based on needs and performance metrics. The company was incorporated 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 $4.01B, a beta of 1.29 versus the broader market, a 52-week range of 12.1-24.9, average daily share volume of 8.0M, 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 1.29 places ZETA roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.

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 May 15, 2026, spot at $17.30, ATM IV 59.56%, IV rank 14.33%, expected move 17.08%. 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 28-day expiry.

Why this iron condor structure on ZETA specifically: ZETA IV at 59.56% 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 17.08% (roughly $2.95 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 ZETA expiries trade a higher absolute premium for lower per-day decay. Position sizing on ZETA should anchor to the underlying notional of $17.30 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 $17.30, the first option leg uses a $18.00 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 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 ZETA shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$18.00	$0.89
Buy 1	Call	$19.00	$0.56
Sell 1	Put	$16.50	$0.73
Buy 1	Put	$15.50	$0.40

ZETA iron condor risk and reward

Net Premium / Debit: +$66.50
Max Profit (per contract): $66.50
Max Loss (per contract): -$33.50
Breakeven(s): $15.83, $18.67
Risk / Reward Ratio: 1.985

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.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-99.9%	-$33.50
$3.83	-77.8%	-$33.50
$7.66	-55.7%	-$33.50
$11.48	-33.6%	-$33.50
$15.31	-11.5%	-$33.50
$19.13	+10.6%	-$33.50
$22.95	+32.7%	-$33.50
$26.78	+54.8%	-$33.50
$30.60	+76.9%	-$33.50
$34.43	+99.0%	-$33.50

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 $14.35 on the downside to $20.25 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 14.33% 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 59.56%. 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 $17.30, 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 59.56%), the computed maximum profit is $66.50 per contract and the computed maximum loss is -$33.50 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 $15.83 and $18.67 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 17.08%; 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 59.56% with IV rank near 14.33%, 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.