Iron Condor Calculator

Your iron condor

Put spread (below the price)

Call spread (above the price)

Results

Net credit (max profit)
Max loss
Lower breakeven
Upper breakeven
Return on risk
Annualized return
Profit zone
Profit zone width

Probability of profit

A model estimate from the implied volatility above (a lognormal price model, the same one behind Black-Scholes and the expected move) — not a prediction. It assumes you hold to expiration and ignores volatility skew, early assignment and dividends. Real outcomes will differ.

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