Iron Condor on Thayer Ventures Acquisition Corporation II Rights (TVAIR)
An iron condor on Thayer Ventures Acquisition Corporation II Rights (TVAIR) is a neutral / range-bound options strategy, anchored to TVAIR's real 0.14 USD price as of 2026-09-09. See how it works, an illustrative strike setup, and max profit/loss/breakeven below — not a live option quote.
Last updated 2026-09-09 · Source: FMP end-of-day close (real price); strikes illustrative, educational only — not a live option quote
How does an iron condor on TVAIR work?
An iron condor on Thayer Ventures Acquisition Corporation II Rights sells an out-of-the-money call spread and an out-of-the-money put spread, profiting if TVAIR stays between the short strikes into expiry. It is a defined-risk, range-bound strategy.
Outlook: neutral / range-bound. Real reference price: 0.14 USD (as of 2026-09-09).
How to set up the iron condor (illustrative)
| Leg | Detail (illustrative) |
|---|---|
| Sell | call illustratively ~0.147 USD and buy call ~0.154 USD (call spread) |
| Sell | put illustratively ~0.133 USD and buy put ~0.126 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 TVAIR settles between ~0.133 USD and ~0.147 USD |
|---|---|
| Max loss | spread width − net credit (here the illustrative spread width is about 0.007 USD) |
| Breakeven | short put strike − credit, and short call strike + credit |
When to use it — and the risks
When: When you expect TVAIR 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 TVAIR?
An iron condor on TVAIR 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 TVAIR?
Sell a call spread roughly 0.147 USD-0.154 USD and a put spread roughly 0.126 USD-0.133 USD, bracketing the current 0.14 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 TVAIR 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 TVAIR?
Best when you expect TVAIR to stay range-bound with falling or stable implied volatility into expiry — not ahead of an event likely to cause a big move.