JBHT trade idea receipt

JBHT is a neutral volatility setup, where the trade is built around price staying inside the planned range rather than making a large directional move. The suggested iron condor uses the current stock price near $280.87 with a planned lower boundary near $247.21 and upper boundary near $314.53, so the thesis depends on price remaining inside that range. Supporting factors include IV rank 59% (elevated vs 1-year history), ATM IV 41.8% vs realized 31.2%, and front/next IV ratio 1.93 (event premium in term structure). Because this is a time-sensitive idea over roughly 24 hours, it should be sized carefully and revisited if price moves through the risk level or the supporting flow fades.