COMP Iron Condor Strategy
COMP (Compass, Inc.), in the Technology sector, (Software - Application industry), listed on NYSE.
Compass, Inc. provides real estate brokerage services in the United States. It operates a cloud-based platform that provides an integrated suite of software for customer relationship management, marketing, client service, operations, and other functionality, as well as brokerage and adjacent services in the real estate industry. The company offers mobile apps that allow agents to manage their business anywhere as well as designs consumer-grade interfaces, an automated workflows for agent-client interactions. The company was formerly known as Urban Compass, Inc. and changed its name to Compass, Inc. in January 2021.Compass, Inc. was founded in 2012 and is headquartered in New York, New York.
COMP (Compass, Inc.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $4.94B, a trailing P/E of 419.93, a beta of 2.46 versus the broader market, a 52-week range of 5.655-13.955, average daily share volume of 15.5M, a public-listing history dating back to 2021, approximately 3K full-time employees. These structural characteristics shape how COMP stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.46 indicates COMP has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. The trailing P/E of 419.93 is on the rich side, which tends to correlate with higher earnings-window IV expansion as the market debates whether forward growth supports the multiple.
What is a iron condor on COMP?
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 COMP snapshot
As of May 15, 2026, spot at $7.92, ATM IV 64.60%, IV rank 16.50%, expected move 18.52%. The iron condor on COMP 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 COMP specifically: COMP IV at 64.60% is on the cheap side of its 1-year range, which means a premium-selling COMP iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 18.52% (roughly $1.47 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 COMP expiries trade a higher absolute premium for lower per-day decay. Position sizing on COMP should anchor to the underlying notional of $7.92 per share and to the trader's directional view on COMP stock.
COMP iron condor setup
The COMP 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 COMP near $7.92, the first option leg uses a $8.32 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed COMP 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 COMP shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $8.32 | N/A |
| Buy 1 | Call | $8.71 | N/A |
| Sell 1 | Put | $7.52 | N/A |
| Buy 1 | Put | $7.13 | N/A |
COMP 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.
COMP iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on COMP. 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 COMP
Iron condors on COMP are a delta-neutral premium-collection structure that profits if COMP stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
COMP thesis for this iron condor
The market-implied 1-standard-deviation range for COMP extends from approximately $6.45 on the downside to $9.39 on the upside. A COMP iron condor is a delta-neutral premium-collection structure that pays off when COMP 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 COMP IV rank near 16.50% 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 COMP at 64.60%. As a Technology name, COMP options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to COMP-specific events.
COMP 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. COMP positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move COMP alongside the broader basket even when COMP-specific fundamentals are unchanged. Short-premium structures like a iron condor on COMP carry tail risk when realized volatility exceeds the implied move; review historical COMP earnings reactions and macro stress periods before sizing. Always rebuild the position from current COMP chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on COMP?
- A iron condor on COMP is the iron condor strategy applied to COMP (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 COMP stock trading near $7.92, the strikes shown on this page are snapped to the nearest listed COMP chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are COMP 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 COMP iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 64.60%), 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 COMP iron condor?
- The breakeven for the COMP 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 COMP market-implied 1-standard-deviation expected move is approximately 18.52%; 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 COMP?
- Iron condors on COMP are a delta-neutral premium-collection structure that profits if COMP stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current COMP implied volatility affect this iron condor?
- COMP ATM IV is at 64.60% with IV rank near 16.50%, 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.