CACI Iron Condor Strategy
CACI (CACI International Inc), in the Technology sector, (Information Technology Services industry), listed on NYSE.
CACI International Inc, together with its subsidiaries, provides expertise and technology to enterprise and mission customers in support of national security missions and government modernization/transformation in the intelligence, defense, and federal civilian sectors. It operates in two segments, Domestic Operations and International Operations. The Domestic Operations segment offers information solutions and services to the U.S. federal government agencies and commercial enterprises in the areas, such as digital solutions, C4ISR, cyber and space, engineering services, enterprise IT, and mission support. The International Operations segment provides a range of IT services, proprietary data, and software products to the commercial and government customers in the United Kingdom, continental Europe, and internationally. The company designs, implements, protects, and manages secure enterprise IT solutions. It also offers software-defined, full-spectrum cyber, electronic warfare, and counter-unmanned aircraft system solutions; and platform integration and modernization and sustainment, as well as system engineering, naval architecture, training and simulation, and logistics engineering.
CACI (CACI International Inc) trades in the Technology sector, specifically Information Technology Services, with a market capitalization of approximately $11.13B, a trailing P/E of 20.70, a beta of 0.54 versus the broader market, a 52-week range of 409.62-683.5, average daily share volume of 279K, a public-listing history dating back to 1980, approximately 25K full-time employees. These structural characteristics shape how CACI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.54 indicates CACI has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure.
What is a iron condor on CACI?
An iron condor sells a call spread and a put spread at strikes outside spot, collecting net premium that is kept if the underlying stays inside the inner short strikes.
Current CACI snapshot
As of May 15, 2026, spot at $485.95, ATM IV 37.90%, IV rank 38.49%, expected move 10.87%. The iron condor on CACI below is built from the same end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 34-day expiry.
Why this iron condor structure on CACI specifically: CACI IV at 37.90% is mid-range versus its 1-year history, so the credit collected on a CACI iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 10.87% (roughly $52.80 on the underlying). The 34-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated CACI expiries trade a higher absolute premium for lower per-day decay. Position sizing on CACI should anchor to the underlying notional of $485.95 per share and to the trader's directional view on CACI stock.
CACI iron condor setup
The CACI iron condor below is built from the end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With CACI near $485.95, the first option leg uses a $510.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CACI chain at a 34-day expiry; the cross-strike IV skew is reflected directly in the per-leg values rather than approximated. Quantity sizing assumes one contract per option leg (or 100 CACI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $510.00 | $15.15 |
| Buy 1 | Call | $530.00 | $9.40 |
| Sell 1 | Put | $460.00 | $10.05 |
| Buy 1 | Put | $440.00 | $7.20 |
CACI iron condor risk and reward
- Net Premium / Debit
- +$860.00
- Max Profit (per contract)
- $860.00
- Max Loss (per contract)
- -$1,140.00
- Breakeven(s)
- $451.40, $518.60
- Risk / Reward Ratio
- 0.754
Max profit equals the net credit times 100 inside the inner strikes; max loss equals wing width minus credit times 100. Two breakevens at inner strikes plus and minus the credit.
CACI iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on CACI. Each row is one sampled price point from the computed payoff curve; the full curve uses 200 price points internally before being summarized into 10 rows here.
| Underlying Price | % From Spot | P&L at Expiration |
|---|---|---|
| $0.01 | -100.0% | -$1,140.00 |
| $107.46 | -77.9% | -$1,140.00 |
| $214.90 | -55.8% | -$1,140.00 |
| $322.35 | -33.7% | -$1,140.00 |
| $429.79 | -11.6% | -$1,140.00 |
| $537.24 | +10.6% | -$1,140.00 |
| $644.68 | +32.7% | -$1,140.00 |
| $752.13 | +54.8% | -$1,140.00 |
| $859.57 | +76.9% | -$1,140.00 |
| $967.02 | +99.0% | -$1,140.00 |
When traders use iron condor on CACI
Iron condors on CACI are a delta-neutral premium-collection structure that profits if CACI stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
CACI thesis for this iron condor
The market-implied 1-standard-deviation range for CACI extends from approximately $433.15 on the downside to $538.75 on the upside. A CACI iron condor is a delta-neutral premium-collection structure that pays off when CACI stays inside the inner short strikes through expiration; the wing width should reflect the trader's tolerance for the maximum loss scenario where the underlying breaches an outer strike. Current CACI IV rank near 38.49% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on CACI should anchor more to the directional view and the expected-move geometry. As a Technology name, CACI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CACI-specific events.
CACI iron condor positions are structurally neutral / range-bound; the modeled P&L assumes European-style exercise at expiration and ignores early assignment, transaction costs, dividends paid before expiry on the stock leg (when present), and the bid-ask spread on the listed chain. CACI positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CACI alongside the broader basket even when CACI-specific fundamentals are unchanged. Short-premium structures like a iron condor on CACI carry tail risk when realized volatility exceeds the implied move; review historical CACI earnings reactions and macro stress periods before sizing. Always rebuild the position from current CACI chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on CACI?
- A iron condor on CACI is the iron condor strategy applied to CACI (stock). The strategy is structurally neutral / range-bound: An iron condor sells a call spread and a put spread at strikes outside spot, collecting net premium that is kept if the underlying stays inside the inner short strikes. With CACI stock trading near $485.95, the strikes shown on this page are snapped to the nearest listed CACI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are CACI iron condor max profit and max loss calculated?
- Max profit equals the net credit times 100 inside the inner strikes; max loss equals wing width minus credit times 100. Two breakevens at inner strikes plus and minus the credit. For the CACI iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 37.90%), the computed maximum profit is $860.00 per contract and the computed maximum loss is -$1,140.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a CACI iron condor?
- The breakeven for the CACI iron condor priced on this page is roughly $451.40 and $518.60 at expiration, derived from end-of-day chain premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The current CACI market-implied 1-standard-deviation expected move is approximately 10.87%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a iron condor on CACI?
- Iron condors on CACI are a delta-neutral premium-collection structure that profits if CACI stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current CACI implied volatility affect this iron condor?
- CACI ATM IV is at 37.90% with IV rank near 38.49%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.