Iron Condor Calculator

How the calculation works

Requires put long < put short < call short < call long. Wing width is the wider of the put or call spreads. Max profit is the net credit × multiplier × contracts. Max loss is (width − credit) × scale. Lower BE is short put − credit; upper BE is short call + credit. If strikes are out of order, valid = 0 and other results zero out.

Formula & example

Max profit = credit × mult × contracts; Max loss = (width − credit) × scale; BE = short put − credit and short call + credit

90/95/105/110 with $1.40 credit, width $5 → max profit $140, max loss $360 per contract (×100).

Why use this calculator

Four strikes plus credit make it easy to mis-size wings. This enforces ordering and shows the risk/reward in dollars.

When to use it

Use when structuring a defined-risk short premium condor and you need max loss and break-evens before entry.

Tips for accurate results

• If valid shows 0, fix strike order before trusting other outputs.
• Early assignment and pin risk are not modeled.

FAQ