CD Iron Condor Strategy
CD (Chaince Digital Holdings Inc.), in the Technology sector, (Information Technology Services industry), listed on NASDAQ.
Chaince Digital Holdings Inc. engages in providing financial and advisory services in the North America, Greater China, Southeast Asia, Hong Kong, Singapore, Malaysia, and the United States. The company offers industry advisory and consulting services, such as corporate restructuring, capital markets preparation, regulatory compliance, and business expansion strategies; IPO-related financial advisory and consulting services, including transaction structuring, preparation for regulatory filings, coordination with underwriters and professional advisors, and strategic capital markets advisory; and private investment in public equity advisory and placement-related services comprising identifying potential investors, assisting in transaction structuring, and coordinating the placement process. It also provides transaction execution and brokerage, clearing-related brokerage, referral, and escrow agent services. The company was formerly known as Mercurity Fintech Holding Inc. and changed its name to Chaince Digital Holdings Inc. in November 2025. Chaince Digital Holdings Inc. was incorporated in 2011 and is headquartered in New York, New York.
CD (Chaince Digital Holdings Inc.) trades in the Technology sector, specifically Information Technology Services, with a market capitalization of approximately $380.5M, a beta of 8.19 versus the broader market, a 52-week range of 1.38-36.77, average daily share volume of 218K, a public-listing history dating back to 2015, approximately 13 full-time employees. These structural characteristics shape how CD stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 8.19 indicates CD has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.
What is a iron condor on CD?
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 CD snapshot
As of June 29, 2026, spot at $4.78, ATM IV 170.40%, IV rank 44.27%, expected move 48.85%. The iron condor on CD 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 18-day expiry.
Why this iron condor structure on CD specifically: CD IV at 170.40% is mid-range versus its 1-year history, so the credit collected on a CD iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 48.85% (roughly $2.34 on the underlying). The 18-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated CD expiries trade a higher absolute premium for lower per-day decay. Position sizing on CD should anchor to the underlying notional of $4.78 per share and to the trader's directional view on CD stock.
CD iron condor setup
The CD 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 CD near $4.78, the first option leg uses a $5.02 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CD chain at a 18-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 CD shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $5.02 | N/A |
| Buy 1 | Call | $5.26 | N/A |
| Sell 1 | Put | $4.54 | N/A |
| Buy 1 | Put | $4.30 | N/A |
CD 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.
CD iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on CD. 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 CD
Iron condors on CD are a delta-neutral premium-collection structure that profits if CD stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
CD thesis for this iron condor
The market-implied 1-standard-deviation range for CD extends from approximately $2.44 on the downside to $7.12 on the upside. A CD iron condor is a delta-neutral premium-collection structure that pays off when CD 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 CD IV rank near 44.27% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on CD should anchor more to the directional view and the expected-move geometry. As a Technology name, CD options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CD-specific events.
CD 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. CD positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CD alongside the broader basket even when CD-specific fundamentals are unchanged. Short-premium structures like a iron condor on CD carry tail risk when realized volatility exceeds the implied move; review historical CD earnings reactions and macro stress periods before sizing. Always rebuild the position from current CD chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on CD?
- A iron condor on CD is the iron condor strategy applied to CD (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 CD stock trading near $4.78, the strikes shown on this page are snapped to the nearest listed CD chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are CD 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 CD iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 170.40%), 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 CD iron condor?
- The breakeven for the CD 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 CD market-implied 1-standard-deviation expected move is approximately 48.85%; 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 CD?
- Iron condors on CD are a delta-neutral premium-collection structure that profits if CD stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current CD implied volatility affect this iron condor?
- CD ATM IV is at 170.40% with IV rank near 44.27%, 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.