XOM Iron Condor — Jun 18, 2026
Trade Setup
Current Stock Price
$150.56
Entry Price
$144.78
Expiration
Jun 18, 2026
Suggested Contracts
1
Strike Details
Sell 135P / Buy 125P / Sell 160C / Buy 170C
Risk / Reward
Max Loss
$789.50
Max Profit
$210.50
Analysis
XOM (EXXON MOBIL CORP) presents a iron condor opportunity with elevated implied volatility. IV Rank 57. IV 2047.0% trades -268.0pp above 30-day HV (2315.0%). This setup favors net premium sellers.
Sell the $135 put and the $160 call (both ~15-30 delta), each protected by a long wing. The position profits if XOM closes between the breakevens at expiration. Underlying ~$146.58, 41 DTE. Max profit $211 per contract, max loss $790, 26.7% return on risk, 65% POP. Breakevens at $132.90 and $162.10.
Management: take profit at ~50% of max profit ($105). Cut at 2x credit ($421 loss). If short strike is breached with > 14 DTE, consider rolling out for a credit. Close before expiration week to avoid gamma risk.
Setup Instructions
Underlying: XOM @ ~$144.78 Expiration: Jun 18, 2026 (41 DTE) Legs:
- Sell XOM Jun 18, 2026 $135 Put (delta -0.22, mid $1.92)
- Buy XOM Jun 18, 2026 $125 Put (delta -0.08, mid $0.56)
- Sell XOM Jun 18, 2026 $160 Call (delta 0.16, mid $1.17)
- Buy XOM Jun 18, 2026 $170 Call (delta 0.07, mid $0.42)
Use limit orders at the mid or slightly worse. Verify bid-ask spread (currently ~10.7% of mid) before sending.
Management Plan
Take profit at 50% of max profit ($105). Cut loss if position reaches 2x credit received ($421 loss). Roll if tested with > 14 DTE remaining.