July 6, 2026: a range-bound options tape
Our automated end-of-session scan surfaced 3 defined-risk setups across 3 names. The average modelled probability of profit was 55%, with implied volatility averaging 48.2% across the list.
See today’s live scanMarket posture
The session leaned neutral: 100% of the setups our scan kept were market-neutral, premium-selling structures such as iron condors — the profile that pays when a name is expected to stay inside a range rather than trend hard either way. When range-bound trades dominate the scan it usually means implied volatility is high enough to be worth selling, but no clear directional edge is on offer.
Where the volatility is
Implied volatility — the price the market puts on future movement — was richest in COIN (79.2%), NVDA (38.7%), BAC (26.7%). Those are the names where option premium is most inflated, so premium-selling is best paid there, but also where a surprise hurts the most. Fat premium ahead of a catalyst is exactly the "buy the rumor, sell the news" setup: the price is high because the market is bracing for a move.
Setups from the scan
The highest-scoring defined-risk setups from the scan (educational examples, not recommendations):
- Iron Butterfly on COIN — roughly a 57% modelled probability of profit over 31 days, about $1,041 of maximum profit against $203 of defined risk, with break-evens near 159.53.
- Iron Condor on BAC — roughly a 52% modelled probability of profit over 31 days, about $135 of maximum profit against $166 of defined risk, with break-evens near 56.66 / 63.34.
- Iron Condor on NVDA — roughly a 54% modelled probability of profit over 31 days, about $647 of maximum profit against $854 of defined risk, with break-evens near 178.53 / 211.47.
This note is generated from an automated end-of-session options scan and is educational market commentary — not investment advice or a recommendation to trade. Modelled probabilities and premiums are estimates; real fills and outcomes differ. Options involve substantial risk. Privacy Policy · Terms & Conditions.