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Best Stocks for Iron Condors: 10 Range-Bound Picks
Ten iron condor candidates that pair a high IV rank with a stock that has not actually been moving — the two conditions a short condor needs at once.
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The short answer
An iron condor needs a contradiction to be true: options priced as though the stock will move, on a stock that then does not. Screening for high implied volatility alone finds names that are expensive because they genuinely move, which is the worst possible condor underlying. The realised-movement filter is what separates this list from a generic high-IV screen.
This screen ranks by IV rank and then requires that the stock has moved less than 8% over the past month. That combination — rich implied volatility, quiet realised price action — is the volatility risk premium in its most tradable form. It is also rare, which is why this list is often shorter and more concentrated than the others.
ApexVol screens 417 optionable names for this list, requiring a $10+ share price and 5,000+ contracts of average daily option volume before ranking. Ranked by IV rank, filtered to names whose absolute 1-month price change is under 8% (1-month price change, already in percentage points). Requires $5+ share price and 5,000+ contracts average daily option volume.
Ranked at a glance
10 picks,
in order.
Ranked by IV rank, filtered to names whose absolute 1-month price change is under 8% (1-month price change, already in percentage points). Requires $5+ share price and 5,000+ contracts average daily option volume.
| Rank | Name | Key stat | Description |
|---|---|---|---|
| 1 | MDT | IV percentile 100 (IV 32.0%) | Implied vol sits at 32% while the stock has moved only 4.0% in a month — the gap a condor monetises. IV rank 100. |
| 2 | FTNT | IV percentile 96 (IV 62.5%) | Implied vol sits at 62% while the stock has moved only 4.6% in a month — the gap a condor monetises. IV rank 96. |
| 3 | PCVX | IV percentile 96 (IV 109.0%) | Implied vol sits at 109% while the stock has moved only 5.8% in a month — the gap a condor monetises. IV rank 96. |
| 4 | VLO | IV percentile 96 (IV 50.7%) | Implied vol sits at 51% while the stock has moved only 8.0% in a month — the gap a condor monetises. IV rank 96. |
| 5 | MPC | IV percentile 94 (IV 48.0%) | Implied vol sits at 48% while the stock has moved only 5.9% in a month — the gap a condor monetises. IV rank 94. |
| 6 | BURL | IV percentile 92 (IV 39.9%) | Implied vol sits at 40% while the stock has moved only 2.9% in a month — the gap a condor monetises. IV rank 92. |
| 7 | TJX | IV percentile 90 (IV 22.9%) | Implied vol sits at 23% while the stock has moved only 1.1% in a month — the gap a condor monetises. IV rank 90. |
| 8 | BP | IV percentile 89 (IV 33.7%) | Implied vol sits at 34% while the stock has moved only 2.6% in a month — the gap a condor monetises. IV rank 89. |
| 9 | HUM | IV percentile 89 (IV 63.5%) | Implied vol sits at 63% while the stock has moved only 0.4% in a month — the gap a condor monetises. IV rank 89. |
| 10 | MRK | IV percentile 89 (IV 36.8%) | Implied vol sits at 37% while the stock has moved only 1.1% in a month — the gap a condor monetises. IV rank 89. |
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MDT Top pick
Implied vol sits at 32% while the stock has moved only 4.0% in a month — the gap a condor monetises. IV rank 100.
IV percentile 100 (IV 32.0%), measured 2026-09-30
Ideal for IV rank 100, 4.0% 1-month move
-
FTNT
Implied vol sits at 62% while the stock has moved only 4.6% in a month — the gap a condor monetises. IV rank 96.
IV percentile 96 (IV 62.5%), measured 2026-09-30
Ideal for IV rank 96, 4.6% 1-month move
-
PCVX
Implied vol sits at 109% while the stock has moved only 5.8% in a month — the gap a condor monetises. IV rank 96.
IV percentile 96 (IV 109.0%), measured 2026-09-30
Ideal for IV rank 96, 5.8% 1-month move
-
VLO
Implied vol sits at 51% while the stock has moved only 8.0% in a month — the gap a condor monetises. IV rank 96.
IV percentile 96 (IV 50.7%), measured 2026-09-30
Ideal for IV rank 96, 8.0% 1-month move
-
MPC
Implied vol sits at 48% while the stock has moved only 5.9% in a month — the gap a condor monetises. IV rank 94.
IV percentile 94 (IV 48.0%), measured 2026-09-30
Ideal for IV rank 94, 5.9% 1-month move
-
BURL
Implied vol sits at 40% while the stock has moved only 2.9% in a month — the gap a condor monetises. IV rank 92.
IV percentile 92 (IV 39.9%), measured 2026-09-30
Ideal for IV rank 92, 2.9% 1-month move
-
TJX
Implied vol sits at 23% while the stock has moved only 1.1% in a month — the gap a condor monetises. IV rank 90.
IV percentile 90 (IV 22.9%), measured 2026-09-30
Ideal for IV rank 90, 1.1% 1-month move
-
BP
Implied vol sits at 34% while the stock has moved only 2.6% in a month — the gap a condor monetises. IV rank 89.
IV percentile 89 (IV 33.7%), measured 2026-09-30
Ideal for IV rank 89, 2.6% 1-month move
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HUM
Implied vol sits at 63% while the stock has moved only 0.4% in a month — the gap a condor monetises. IV rank 89.
IV percentile 89 (IV 63.5%), measured 2026-09-30
Ideal for IV rank 89, 0.4% 1-month move
-
MRK
Implied vol sits at 37% while the stock has moved only 1.1% in a month — the gap a condor monetises. IV rank 89.
IV percentile 89 (IV 36.8%), measured 2026-09-30
Ideal for IV rank 89, 1.1% 1-month move
Live data, refreshed October 1, 2026. October 2026 data refresh: rebuilt from 417 liquid names on the 2026-09-30 data snapshot. Top pick MDT at IV rank 100, 4.0% 1-month move.
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Questions
About this ranking.
What makes a stock suitable for an iron condor?
A condor is short both tails, so it wants an underlying whose implied volatility is rich but whose actual movement is contained. High IV on a genuinely trending or gapping stock is not opportunity, it is a correctly priced warning. This screen requires both conditions rather than assuming high IV implies the first.
Should I avoid earnings when trading iron condors?
Generally yes for the standard 30-45 DTE condor. Earnings is precisely the event that turns a quiet, range-bound name into a gap, and it is also why the implied volatility looked attractive in the first place. Check the earnings date before taking any position from a high-IV screen.
How wide should the short strikes be?
Common practice is short strikes near 15-20 delta on each side, giving roughly a 70% probability of expiring fully out of the money. Wider strikes raise the win rate and cut the credit; narrower does the reverse. The screen tells you where to look, not how wide to go.
Why filter on 1-month price change specifically?
It is the shortest window that still smooths out single-day noise while matching the typical 30-45 day condor holding period. A name that has held an 8% band for a month has demonstrated the behaviour the trade depends on, rather than merely being priced as though it might.
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