Iron Condor on Arts Optical International Holdings (1120.HK)
A iron condor on Arts Optical International Holdings (1120.HK) is a neutral / range-bound options strategy. An iron condor on Arts Optical International Holdings sells an out-of-the-money call spread and an out-of-the-money put spread, profiting if 1120.HK stays between the short strikes into expiry. It is a defined-risk, range-bound strategy. Strikes below are illustrative, anchored to 1120.HK's real 0.77 HKD price as of 2026-07-21 — not a live option quote.
Last updated 2026-07-21 · Source: FMP end-of-day close (real price); strikes illustrative, educational only — not a live option quote
How does a iron condor on 1120.HK work?
An iron condor on Arts Optical International Holdings sells an out-of-the-money call spread and an out-of-the-money put spread, profiting if 1120.HK stays between the short strikes into expiry. It is a defined-risk, range-bound strategy.
Outlook: neutral / range-bound. Real reference price: 0.77 HKD (as of 2026-07-21).
How to set up the iron condor (illustrative)
| Leg | Detail (illustrative) |
|---|---|
| Sell | call illustratively ~0.8085 HKD and buy call ~0.847 HKD (call spread) |
| Sell | put illustratively ~0.7315 HKD and buy put ~0.693 HKD (put spread) |
Strikes are illustrative percentages of the real price, not live option quotes. Pick actual strikes and expiries from a broker's option chain.
Max profit, max loss and breakeven
| Max profit | the net credit received, kept in full if 1120.HK settles between ~0.7315 HKD and ~0.8085 HKD |
|---|---|
| Max loss | spread width − net credit (here the illustrative spread width is about 0.0385 HKD) |
| Breakeven | short put strike − credit, and short call strike + credit |
When to use it — and the risks
When: When you expect 1120.HK to trade in a range with falling or stable volatility into expiry.
Risks: Losses occur on a large move beyond either short strike; defined-risk but the max loss can exceed the credit collected.
Related research pages
Frequently asked questions
What is a iron condor on 1120.HK?
An iron condor on Arts Optical International Holdings sells an out-of-the-money call spread and an out-of-the-money put spread, profiting if 1120.HK stays between the short strikes into expiry. It is a defined-risk, range-bound strategy.
How do you set up a iron condor for 1120.HK?
Sell: call illustratively ~0.8085 HKD and buy call ~0.847 HKD (call spread). Sell: put illustratively ~0.7315 HKD and buy put ~0.693 HKD (put spread). Strikes shown are illustrative, anchored to 1120.HK's real 0.77 HKD price as of 2026-07-21 — choose actual strikes from a live option chain.
What is the max profit and loss?
Max profit: the net credit received, kept in full if 1120.HK settles between ~0.7315 HKD and ~0.8085 HKD. Max loss: spread width − net credit (here the illustrative spread width is about 0.0385 HKD). Breakeven: short put strike − credit, and short call strike + credit.
When should you use a iron condor on 1120.HK?
When you expect 1120.HK to trade in a range with falling or stable volatility into expiry. Risks: Losses occur on a large move beyond either short strike; defined-risk but the max loss can exceed the credit collected.