Learn/Iron Condor/CVX

01 — CVX · IRON CONDOR

Best CVX iron condor setups.

Pick how long you want to wait and how much risk you'll take. We score every live strike across the next 3 expirations and surface the top setups — updated hourly.

Second-largest US energy supermajor with steady options flow and Hess-merger overhang.

Find the best strikes →FREE · 20 ANALYSES/DAY · NO CARD
Chevron
Energy
CVX
$235.52+15.3% / 30d
IV rank (1y)
35% · moderate
Next earnings
Oct 30
Market cap
$462.0B
P/E (fwd)
14.9
Dividend
$6.98 · Aug 19
Option vol
13K /day

02 — Live setups

Suggested strikes

Choose your time horizon and risk band. Every match is scored on return, premium, and probability of profit.

Days to expiration
Probability of profit
Sort by
Top pick · 4-leg iron condor
$215/$220P + $250/$255C · Nov 27
27 DAYS · BOTH WINGS 5 WIDE · SELL TO OPEN
Credit
$131
Return
35.5%
PoP
62%
WingsExpirationCreditReturn ↓PoP
$215P / $255C
5 wide wings
Dec 4
34 days
$126
$1.26 / share
33.69%69%
$215P / $255C
5 wide wings
Nov 27
27 days
$115
$1.15 / share
29.87%74%
3 of 3 matchesCustomize filters →

03 — Strategy

Iron Condor, plainly explained

Traders expecting consolidation and seeking bounded risk/reward.

P&L at expiration · $215/$220P + $250/$255C · 27 DTE

$0+$131−$369$215$220P$250C$255

Key numbers

Premium collected+$131
Max profit+$131
Max loss−$369
Profit zone$218.69 — $251.31
Probability of profit62%
Days to expiration27

When this trade makes sense

Use when

    Avoid when

      Read the full iron condor guide →

      04 — By condition

      Read by market condition

      01
      High Implied Volatility
      READ →
      02
      Range-Bound Market
      READ →
      03
      Earnings Week
      READ →
      04
      Bullish Trend
      READ →
      05
      Post-Earnings IV Crush
      READ →

      05 — RUN IT LIVE

      See the highest chance of profit on CVX.

      Alpha Hawk scans live chains and recommends setups based on current market conditions.

      Analyze CVX free →