How are CNK 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 CNK iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 40.20%), the computed maximum profit is $77.50 per contract and the computed maximum loss is -$122.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a CNK iron condor?

The breakeven for the CNK iron condor priced on this page is roughly $30.23 and $34.78 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 CNK market-implied 1-standard-deviation expected move is approximately 11.53%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current CNK implied volatility affect this iron condor?

CNK ATM IV is at 40.20% with IV rank near 36.10%, 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.

CNK Iron Condor Strategy

CNK (Cinemark Holdings, Inc.), in the Communication Services sector, (Entertainment industry), listed on NYSE.

Cinemark Holdings, Inc., through its various subsidiaries, operates in the business of exhibiting motion pictures. As of June 30, 2022, the company managed a portfolio of 522 movie theaters, encompassing 5,868 screens located across the United States, South America, and Central America. The company was established in 1984 and maintains its principal executive offices in Plano, Texas.

CNK (Cinemark Holdings, Inc.) trades in the Communication Services sector, specifically Entertainment, with a market capitalization of approximately $3.90B, a trailing P/E of 22.54, a beta of 1.01 versus the broader market, a 52-week range of 21.6-34.73, average daily share volume of 2.1M, a public-listing history dating back to 2007, approximately 9K full-time employees. These structural characteristics shape how CNK stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.01 places CNK roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. CNK pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a iron condor on CNK?

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 CNK snapshot

As of June 29, 2026, spot at $32.28, ATM IV 40.20%, IV rank 36.10%, expected move 11.53%. The iron condor on CNK 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 CNK specifically: CNK IV at 40.20% is mid-range versus its 1-year history, so the credit collected on a CNK iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 11.53% (roughly $3.72 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 CNK expiries trade a higher absolute premium for lower per-day decay. Position sizing on CNK should anchor to the underlying notional of $32.28 per share and to the trader's directional view on CNK stock.

CNK iron condor setup

The CNK 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 CNK near $32.28, the first option leg uses a $34.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CNK 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 CNK shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$34.00	$0.45
Buy 1	Call	$36.00	$0.18
Sell 1	Put	$31.00	$0.95
Buy 1	Put	$29.00	$0.45

CNK iron condor risk and reward

Net Premium / Debit: +$77.50
Max Profit (per contract): $77.50
Max Loss (per contract): -$122.50
Breakeven(s): $30.23, $34.78
Risk / Reward Ratio: 0.633

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.

CNK iron condor payoff curve

Modeled P&L at expiration across a range of underlying prices for the iron condor on CNK. 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.

P&L at expiration across the modeled underlying-price range. Green shading marks profitable regions, red shading marks loss regions. Dotted purple verticals mark breakevens; the solid dark vertical marks current spot.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-100.0%	-$122.50
$7.15	-77.9%	-$122.50
$14.28	-55.8%	-$122.50
$21.42	-33.6%	-$122.50
$28.55	-11.5%	-$122.50
$35.69	+10.6%	-$91.59
$42.83	+32.7%	-$122.50
$49.96	+54.8%	-$122.50
$57.10	+76.9%	-$122.50
$64.24	+99.0%	-$122.50

When traders use iron condor on CNK

Iron condors on CNK are a delta-neutral premium-collection structure that profits if CNK stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.

CNK thesis for this iron condor

The market-implied 1-standard-deviation range for CNK extends from approximately $28.56 on the downside to $36.00 on the upside. A CNK iron condor is a delta-neutral premium-collection structure that pays off when CNK 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 CNK IV rank near 36.10% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on CNK should anchor more to the directional view and the expected-move geometry. As a Communication Services name, CNK options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CNK-specific events.

CNK 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. CNK positions also carry Communication Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CNK alongside the broader basket even when CNK-specific fundamentals are unchanged. Short-premium structures like a iron condor on CNK carry tail risk when realized volatility exceeds the implied move; review historical CNK earnings reactions and macro stress periods before sizing. Always rebuild the position from current CNK chain quotes before placing a trade.

Frequently asked questions

What is a iron condor on CNK?: A iron condor on CNK is the iron condor strategy applied to CNK (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 CNK stock trading near $32.28, the strikes shown on this page are snapped to the nearest listed CNK chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are CNK 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 CNK iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 40.20%), the computed maximum profit is $77.50 per contract and the computed maximum loss is -$122.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a CNK iron condor?: The breakeven for the CNK iron condor priced on this page is roughly $30.23 and $34.78 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 CNK market-implied 1-standard-deviation expected move is approximately 11.53%; 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 CNK?: Iron condors on CNK are a delta-neutral premium-collection structure that profits if CNK stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
How does current CNK implied volatility affect this iron condor?: CNK ATM IV is at 40.20% with IV rank near 36.10%, 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.