Iron Condor on Alps Group (ALPS)
An iron condor on Alps Group (ALPS) is a neutral / range-bound options strategy, anchored to ALPS's real 0.3276 USD price as of 2026-10-26. See how it works, an illustrative strike setup, and max profit/loss/breakeven below — not a live option quote.
Last updated 2026-10-26 · Source: end-of-day close (real price); strikes illustrative, educational only — not a live option quote
How does an iron condor on ALPS work?
An iron condor on Alps Group sells an out-of-the-money call spread and an out-of-the-money put spread, profiting if ALPS stays between the short strikes into expiry. It is a defined-risk, range-bound strategy.
Outlook: neutral / range-bound. Real reference price: 0.3276 USD (as of 2026-10-26).
How to set up the iron condor (illustrative)
| Leg | Detail (illustrative) |
|---|---|
| Sell | call illustratively ~0.344 USD and buy call ~0.3604 USD (call spread) |
| Sell | put illustratively ~0.3112 USD and buy put ~0.2948 USD (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 ALPS settles between ~0.3112 USD and ~0.344 USD |
|---|---|
| Max loss | spread width − net credit (here the illustrative spread width is about 0.0164 USD) |
| Breakeven | short put strike − credit, and short call strike + credit |
When to use it — and the risks
When: When you expect ALPS 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
More on ALPS
Frequently asked questions
What is an iron condor on ALPS?
An iron condor on ALPS combines a short call spread above the market and a short put spread below it, collecting a net credit that's kept in full if price stays inside both spreads.
How do you set up an iron condor for ALPS?
Sell a call spread roughly 0.344 USD-0.3604 USD and a put spread roughly 0.2948 USD-0.3112 USD, bracketing the current 0.3276 USD price. Real strikes and widths should come from the live option chain.
What is the max profit and loss?
Max profit is the credit collected if ALPS stays between the short strikes; max loss is the spread width minus that credit if price breaks out either side.
When should you use an iron condor on ALPS?
Best when you expect ALPS to stay range-bound with falling or stable implied volatility into expiry — not ahead of an event likely to cause a big move.