How are CQTM 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 CQTM iron condor priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 76.20%), the computed maximum profit is $77.50 per contract and the computed maximum loss is -$22.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a CQTM iron condor?

The breakeven for the CQTM iron condor priced on this page is roughly $25.23 and $29.78 at expiration, derived from the August 14, 2026 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 CQTM market-implied 1-standard-deviation expected move in the same options snapshot is approximately 21.85%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current CQTM implied volatility affect this iron condor?

Current CQTM ATM IV is 76.20%; IV rank context is unavailable in the current snapshot.

CQTM Iron Condor Strategy

CQTM (Corgi Quantum Computing ETF), in the Financial Services sector, (Asset Management industry), listed on CBOE.

The fund is an exchange-traded fund ("ETF") that seeks to meet its objective by having Corgi Strategies, LLC (the "adviser") actively manage the fund and, under ordinary market conditions, invest at least 80% of its net assets (plus any borrowings for investment purposes) in a portfolio of companies materially involved in the research, development, manufacturing, and commercialization of quantum computing and quantum-enabled technologies, along with security solutions designed to protect data and communications against future quantum capabilities. It is non-diversified.

CQTM (Corgi Quantum Computing ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $7.9M, a beta of 0.00 versus the broader market, a 52-week range of 21.14-35.04, average daily share volume of 38K, a public-listing history dating back to 2026. These structural characteristics shape how CQTM stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.00 indicates CQTM has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure.

What is a iron condor on CQTM?

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.

CQTM snapshot

As of August 14, 2026, spot at $27.38, ATM IV 76.20%, expected move 21.85%. The iron condor on CQTM below is built from the August 14, 2026 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 CQTM specifically: IV rank is unavailable in the current snapshot, so regime-based timing for CQTM is inferred from ATM IV at 76.20% alone, with a market-implied 1-standard-deviation move of approximately 21.85% (roughly $5.98 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 CQTM expiries trade a higher absolute premium for lower per-day decay. Position sizing on CQTM should anchor to the underlying notional of $27.38 per share and to the trader's directional view on CQTM stock.

CQTM iron condor setup

The CQTM iron condor below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With CQTM at $27.38 on that close, the first option leg uses a $29.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CQTM 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 CQTM shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$29.00	$1.85
Buy 1	Call	$30.00	$1.50
Sell 1	Put	$26.00	$1.95
Buy 1	Put	$25.00	$1.53

CQTM iron condor risk and reward

Net Premium / Debit: +$77.50
Max Profit (per contract): $77.50
Max Loss (per contract): -$22.50
Breakeven(s): $25.23, $29.78
Risk / Reward Ratio: 3.444

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.

CQTM iron condor payoff curve

Modeled P&L at expiration across a range of underlying prices for the iron condor on CQTM. 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%	-$22.50
$6.06	-77.9%	-$22.50
$12.12	-55.8%	-$22.50
$18.17	-33.6%	-$22.50
$24.22	-11.5%	-$22.50
$30.27	+10.6%	-$22.50
$36.33	+32.7%	-$22.50
$42.38	+54.8%	-$22.50
$48.43	+76.9%	-$22.50
$54.48	+99.0%	-$22.50

When traders use iron condor on CQTM

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

CQTM thesis for this iron condor

The market-implied 1-standard-deviation range for CQTM extends from approximately $21.40 on the downside to $33.36 on the upside. A CQTM iron condor is a delta-neutral premium-collection structure that pays off when CQTM 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. As a Financial Services name, CQTM options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CQTM-specific events.

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

Frequently asked questions

What is a iron condor on CQTM?: A iron condor on CQTM is the iron condor strategy applied to CQTM (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 CQTM stock at $27.38 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed CQTM chain strike and the premiums come straight from that session's bid/ask midpoint.
How are CQTM 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 CQTM iron condor priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 76.20%), the computed maximum profit is $77.50 per contract and the computed maximum loss is -$22.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a CQTM iron condor?: The breakeven for the CQTM iron condor priced on this page is roughly $25.23 and $29.78 at expiration, derived from the August 14, 2026 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 CQTM market-implied 1-standard-deviation expected move in the same options snapshot is approximately 21.85%; 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 CQTM?: Iron condors on CQTM are a delta-neutral premium-collection structure that profits if CQTM stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
How does current CQTM implied volatility affect this iron condor?: Current CQTM ATM IV is 76.20%; IV rank context is unavailable in the current snapshot.