Iron Condor Calculator
Calculate the defined-risk payoff of an iron condor using the four strikes and the net credit received. The result shows the profit zone, upper and lower breakevens, maximum profit and worst-case wing loss.
Max profit$150.00
Max loss$350.00
Lower breakeven$93.50
Upper breakeven$106.50
How this tool works
Lower breakeven = short put strike − credit. Upper breakeven = short call strike + credit. Max loss = widest wing − credit, multiplied by 100 per contract.
Example
A 5-point-wide condor collected for $1.50 has $150 maximum profit and $350 maximum loss per contract.
Common questions
What if the call and put wings have different widths?
The calculator uses the wider wing when determining maximum loss.
Does this include closing costs?
No. Commissions, slippage and exit costs are not included.