CCEC Iron Condor Strategy
CCEC (Capital Clean Energy Carriers Corp.), in the Industrials sector, (Marine Shipping industry), listed on NASDAQ.
Capital Clean Energy Carriers Corp., a shipping company, provides marine transportation services in Greece. The company's vessels provide a range of cargoes, including liquefied natural gas, containerized goods, and cargo under short-term voyage charters, and medium to long-term time charters. It owns vessels, including Neo-Panamax container vessels, Panamax container vessels, cape-size bulk carrier, and LNG carriers. In addition, the company produces and distributes oil and natural gas, including biofuels, motor oil, lubricants, petrol, crudes, liquefied natural gas, marine fuels, natural gas liquids, and petrochemicals. It serves as the general partner of the company. The company was formerly known as Capital Product Partners L.P. and changed its name to Capital Clean Energy Carriers Corp. in August 2024.
CCEC (Capital Clean Energy Carriers Corp.) trades in the Industrials sector, specifically Marine Shipping, with a market capitalization of approximately $1.22B, a trailing P/E of 22.43, a beta of 0.59 versus the broader market, a 52-week range of 16.77-24.83, average daily share volume of 8K, a public-listing history dating back to 2007. These structural characteristics shape how CCEC stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.59 indicates CCEC has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. CCEC pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on CCEC?
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 CCEC snapshot
As of May 15, 2026, spot at $20.75, ATM IV 35.80%, IV rank 6.11%, expected move 10.26%. The iron condor on CCEC 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 CCEC specifically: CCEC IV at 35.80% is on the cheap side of its 1-year range, which means a premium-selling CCEC iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 10.26% (roughly $2.13 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 CCEC expiries trade a higher absolute premium for lower per-day decay. Position sizing on CCEC should anchor to the underlying notional of $20.75 per share and to the trader's directional view on CCEC stock.
CCEC iron condor setup
The CCEC 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 CCEC near $20.75, the first option leg uses a $21.79 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CCEC 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 CCEC shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $21.79 | N/A |
| Buy 1 | Call | $22.83 | N/A |
| Sell 1 | Put | $19.71 | N/A |
| Buy 1 | Put | $18.68 | N/A |
CCEC iron condor risk and reward
- Net Premium / Debit
- N/A
- Max Profit (per contract)
- Unbounded
- Max Loss (per contract)
- Unbounded
- Breakeven(s)
- None on modeled curve
- Risk / Reward Ratio
- N/A
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.
CCEC iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on CCEC. 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.
When traders use iron condor on CCEC
Iron condors on CCEC are a delta-neutral premium-collection structure that profits if CCEC stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
CCEC thesis for this iron condor
The market-implied 1-standard-deviation range for CCEC extends from approximately $18.62 on the downside to $22.88 on the upside. A CCEC iron condor is a delta-neutral premium-collection structure that pays off when CCEC 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 CCEC IV rank near 6.11% sits in the lower third of its 1-year distribution, where IV often re-expands toward the mean; this favors premium-buying structures and disadvantages premium-selling structures on CCEC at 35.80%. As a Industrials name, CCEC options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CCEC-specific events.
CCEC 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. CCEC positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CCEC alongside the broader basket even when CCEC-specific fundamentals are unchanged. Short-premium structures like a iron condor on CCEC carry tail risk when realized volatility exceeds the implied move; review historical CCEC earnings reactions and macro stress periods before sizing. Always rebuild the position from current CCEC chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on CCEC?
- A iron condor on CCEC is the iron condor strategy applied to CCEC (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 CCEC stock trading near $20.75, the strikes shown on this page are snapped to the nearest listed CCEC chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are CCEC 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 CCEC iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 35.80%), the computed maximum profit is unbounded per contract and the computed maximum loss is unbounded per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a CCEC iron condor?
- The breakeven for the CCEC iron condor priced on this page is no defined breakeven on the modeled curve 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 CCEC market-implied 1-standard-deviation expected move is approximately 10.26%; 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 CCEC?
- Iron condors on CCEC are a delta-neutral premium-collection structure that profits if CCEC stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current CCEC implied volatility affect this iron condor?
- CCEC ATM IV is at 35.80% with IV rank near 6.11%, which is on the low end of its 1-year range. Premium-buying structures (long call, long put, debit spreads) are relatively cheap in this regime; premium-selling structures collect less credit per unit risk.