Option Profit Sim
SPY Iron Condor Calculator
Calculate max profit, max loss, breakeven and probability of profit for a SPDR S&P 500 ETF (SPY) iron condor. Adjust the strike and premium and the payoff chart updates instantly.
Open the SPY Iron Condor calculator →Pre-loaded with SPY and the iron condor — ready to edit.
SPY Iron Condor: the essentials
- Max profit: capped at the net credit you collect, kept in full if the stock finishes between the two short strikes.
- Breakeven: two of them: the lower short strike minus the net credit, and the upper short strike plus the net credit.
- Outlook: neutral — you profit when the stock stays range-bound between your two short strikes through expiration.
Frequently asked
How is max profit on a SPY Iron Condor calculated?
For a SPDR S&P 500 ETF (SPY) iron condor, max profit is capped at the net credit you collect, kept in full if the stock finishes between the two short strikes. The calculator above computes it from your exact strike(s) and premium.
What is the breakeven on a SPY Iron Condor?
The breakeven on a SPY iron condor is two of them: the lower short strike minus the net credit, and the upper short strike plus the net credit. Enter your numbers above and the payoff chart marks the breakeven for you.
Is a Iron Condor on SPY bullish or bearish?
A SPY iron condor is neutral — you profit when the stock stays range-bound between your two short strikes through expiration.
How do I calculate a SPY Iron Condor?
Open the pre-loaded calculator above — it's already set to SPY and the iron condor. Adjust the strike, premium and expiration to instantly see max profit, max loss, breakeven, probability of profit and the Greeks.
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Browse all options calculators →Figures are theoretical estimates for education only — not financial advice. Options involve risk.
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