Long Iron Condor Calculator

Search a symbol to visualize the potential profit and loss for a long iron condor option strategy.

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What is a long iron condor?

NeutralLow VolatilityLimited ProfitLimited Loss

An iron condor is a neutral strategy that is profitable if the stock remains within the inner strikes B and C. It is established for a net credit and has a wider profitable range than an iron butterfly, but the potential profit is lower.

Volatility should be low to run this strategy, as increasing volatility will narrow the profitable range. Time is helpful when the position is profitable, and harmful when it isn't.

ABCDProfitLossStock Price (at expiration)
  • Buy a put at strike A
  • Sell a put at strike B
  • Sell a call at strike C
  • Buy a call at strike D