CNDT Iron Condor Strategy
CNDT (Conduent Incorporated), in the Technology sector, (Information Technology Services industry), listed on NASDAQ.
Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States, Europe, and internationally. It operates through three segments: Commercial Industries, Government Services, and Transportation. The Commercial Industries segment offers business process services and customized solutions to clients in various industries; and end-user customer experience management, transaction processing services, healthcare and human resource, and learning services. The Government Services segment provides government-centric business process services to the United States federal, state, local, and foreign governments for public assistance, program administration, transaction processing, and payment services; medical management and fiscal agent care management services; and government healthcare, payment solutions, child support, and federal services. The Transportation segment offers systems and support comprising mission-critical mobility and payment solutions to government clients. This segment also provides electronic tolling, urban congestion management, and mileage-based user solutions; transit solutions; citation and permit administration, parking enforcement, and curbside demand management solutions; and computer-aided dispatch/automatic vehicle location solutions.
CNDT (Conduent Incorporated) trades in the Technology sector, specifically Information Technology Services, with a market capitalization of approximately $223.3M, a beta of 1.43 versus the broader market, a 52-week range of 1.15-2.98, average daily share volume of 1.4M, a public-listing history dating back to 2016, approximately 53K full-time employees. These structural characteristics shape how CNDT stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.43 indicates CNDT 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 CNDT?
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 CNDT snapshot
As of May 15, 2026, spot at $1.40, ATM IV 91.70%, IV rank 15.92%, expected move 26.29%. The iron condor on CNDT 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 CNDT specifically: CNDT IV at 91.70% is on the cheap side of its 1-year range, which means a premium-selling CNDT iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 26.29% (roughly $0.37 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 CNDT expiries trade a higher absolute premium for lower per-day decay. Position sizing on CNDT should anchor to the underlying notional of $1.40 per share and to the trader's directional view on CNDT stock.
CNDT iron condor setup
The CNDT 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 CNDT near $1.40, the first option leg uses a $1.47 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CNDT 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 CNDT shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $1.47 | N/A |
| Buy 1 | Call | $1.54 | N/A |
| Sell 1 | Put | $1.33 | N/A |
| Buy 1 | Put | $1.26 | N/A |
CNDT 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.
CNDT iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on CNDT. 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 CNDT
Iron condors on CNDT are a delta-neutral premium-collection structure that profits if CNDT stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
CNDT thesis for this iron condor
The market-implied 1-standard-deviation range for CNDT extends from approximately $1.03 on the downside to $1.77 on the upside. A CNDT iron condor is a delta-neutral premium-collection structure that pays off when CNDT 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 CNDT IV rank near 15.92% 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 CNDT at 91.70%. As a Technology name, CNDT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CNDT-specific events.
CNDT 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. CNDT positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CNDT alongside the broader basket even when CNDT-specific fundamentals are unchanged. Short-premium structures like a iron condor on CNDT carry tail risk when realized volatility exceeds the implied move; review historical CNDT earnings reactions and macro stress periods before sizing. Always rebuild the position from current CNDT chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on CNDT?
- A iron condor on CNDT is the iron condor strategy applied to CNDT (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 CNDT stock trading near $1.40, the strikes shown on this page are snapped to the nearest listed CNDT chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are CNDT 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 CNDT iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 91.70%), 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 CNDT iron condor?
- The breakeven for the CNDT 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 CNDT market-implied 1-standard-deviation expected move is approximately 26.29%; 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 CNDT?
- Iron condors on CNDT are a delta-neutral premium-collection structure that profits if CNDT stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current CNDT implied volatility affect this iron condor?
- CNDT ATM IV is at 91.70% with IV rank near 15.92%, 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.