Iron Condor on Nathan's Famous (NATH)
An iron condor on Nathan's Famous (NATH) is a neutral / range-bound options strategy, anchored to NATH's real 97.97 USD price as of 2026-09-11. See how it works, an illustrative strike setup, and max profit/loss/breakeven below — not a live option quote.
Last updated 2026-09-11 · Source: FMP end-of-day close (real price); strikes illustrative, educational only — not a live option quote
How does an iron condor on NATH work?
An iron condor on Nathan's Famous sells an out-of-the-money call spread and an out-of-the-money put spread, profiting if NATH stays between the short strikes into expiry. It is a defined-risk, range-bound strategy.
Outlook: neutral / range-bound. Real reference price: 97.97 USD (as of 2026-09-11).
How to set up the iron condor (illustrative)
| Leg | Detail (illustrative) |
|---|---|
| Sell | call illustratively ~102.87 USD and buy call ~107.77 USD (call spread) |
| Sell | put illustratively ~93.07 USD and buy put ~88.17 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 NATH settles between ~93.07 USD and ~102.87 USD |
|---|---|
| Max loss | spread width − net credit (here the illustrative spread width is about 4.9 USD) |
| Breakeven | short put strike − credit, and short call strike + credit |
When to use it — and the risks
When: When you expect NATH 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 an iron condor on NATH?
An iron condor on NATH 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 NATH?
Sell a call spread roughly 102.87 USD-107.77 USD and a put spread roughly 88.17 USD-93.07 USD, bracketing the current 97.97 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 NATH 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 NATH?
Best when you expect NATH to stay range-bound with falling or stable implied volatility into expiry — not ahead of an event likely to cause a big move.