Iron Condor on Aware (AWRE)
An iron condor on Aware (AWRE) is a neutral / range-bound options strategy, anchored to AWRE's real 0.835 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 AWRE work?
An iron condor on Aware sells an out-of-the-money call spread and an out-of-the-money put spread, profiting if AWRE stays between the short strikes into expiry. It is a defined-risk, range-bound strategy.
Outlook: neutral / range-bound. Real reference price: 0.835 USD (as of 2026-10-26).
How to set up the iron condor (illustrative)
| Leg | Detail (illustrative) |
|---|---|
| Sell | call illustratively ~0.8768 USD and buy call ~0.9185 USD (call spread) |
| Sell | put illustratively ~0.7932 USD and buy put ~0.7515 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 AWRE settles between ~0.7932 USD and ~0.8768 USD |
|---|---|
| Max loss | spread width − net credit (here the illustrative spread width is about 0.0417 USD) |
| Breakeven | short put strike − credit, and short call strike + credit |
When to use it — and the risks
When: When you expect AWRE 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 AWRE
Frequently asked questions
What is an iron condor on AWRE?
An iron condor on AWRE 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 AWRE?
Sell a call spread roughly 0.8768 USD-0.9185 USD and a put spread roughly 0.7515 USD-0.7932 USD, bracketing the current 0.835 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 AWRE 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 AWRE?
Best when you expect AWRE to stay range-bound with falling or stable implied volatility into expiry — not ahead of an event likely to cause a big move.