CMRC Iron Condor Strategy
CMRC (Commerce.com, Inc.), in the Technology sector, (Software - Application industry), listed on NASDAQ.
Commerce.com, Inc. delivers a global e-commerce platform via a software-as-a-service (SaaS) model, assisting brands and retailers across the United States, the Americas, Europe, the Middle East, Africa, and the Asia Pacific region. This comprehensive platform empowers businesses to establish and expand their online presence. Its features span storefront design, product catalog administration, hosting services, streamlined checkout processes, order fulfillment management, and detailed reporting. Crucially, it offers pre-integrated access to vital third-party functionalities, such as payment gateways, shipping solutions, and accounting software. The company's offerings serve a wide array of online stores, accommodating various sizes, product categories, and transaction models, encompassing both business-to-consumer (B2C) and business-to-business (B2B) operations. Founded in 2009 and headquartered in Austin, Texas, the entity currently known as BigCommerce Holdings, Inc. is scheduled to officially rebrand as Commerce.com, Inc. in July 2025.
CMRC (Commerce.com, Inc.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $178.2M, a beta of 1.15 versus the broader market, a 52-week range of 1.95-5.545, average daily share volume of 782K, a public-listing history dating back to 2020, approximately 1K full-time employees. These structural characteristics shape how CMRC stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.15 places CMRC roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.
What is a iron condor on CMRC?
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.
CMRC snapshot
As of August 14, 2026, spot at $2.21, ATM IV 71.00%, IV rank 23.71%, expected move 10.46%. The iron condor on CMRC below is built from the end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.
Why this iron condor structure on CMRC specifically: CMRC IV at 71.00% is on the cheap side of its 1-year range, which means a premium-selling CMRC iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 10.46% (roughly $0.23 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated CMRC expiries trade a higher absolute premium for lower per-day decay. Position sizing on CMRC should anchor to the underlying notional of $2.21 per share and to the trader's directional view on CMRC stock.
CMRC iron condor setup
The CMRC 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 CMRC at $2.21 on that close, the first option leg uses a $2.32 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CMRC chain at a 35-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 CMRC shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $2.32 | N/A |
| Buy 1 | Call | $2.43 | N/A |
| Sell 1 | Put | $2.10 | N/A |
| Buy 1 | Put | $1.99 | N/A |
CMRC 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.
CMRC iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on CMRC. 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 CMRC
Iron condors on CMRC are a delta-neutral premium-collection structure that profits if CMRC stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
CMRC thesis for this iron condor
The market-implied 1-standard-deviation range for CMRC extends from approximately $1.98 on the downside to $2.44 on the upside. A CMRC iron condor is a delta-neutral premium-collection structure that pays off when CMRC 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 CMRC IV rank near 23.71% 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 CMRC at 71.00%. As a Technology name, CMRC options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CMRC-specific events.
CMRC 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. CMRC positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CMRC alongside the broader basket even when CMRC-specific fundamentals are unchanged. Short-premium structures like a iron condor on CMRC carry tail risk when realized volatility exceeds the implied move; review historical CMRC earnings reactions and macro stress periods before sizing. Always rebuild the position from current CMRC chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on CMRC?
- A iron condor on CMRC is the iron condor strategy applied to CMRC (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 CMRC stock at $2.21 on the most recent close, the strikes shown on this page are snapped to the nearest listed CMRC chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are CMRC 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 CMRC iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 71.00%), 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 CMRC iron condor?
- The breakeven for the CMRC iron condor priced on this page is no defined breakeven on the modeled curve at expiration, derived from the end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The CMRC market-implied 1-standard-deviation expected move in the same options snapshot is approximately 10.46%; 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 CMRC?
- Iron condors on CMRC are a delta-neutral premium-collection structure that profits if CMRC stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current CMRC implied volatility affect this iron condor?
- CMRC ATM IV is at 71.00% with IV rank near 23.71%, 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.