CUBI Iron Condor Strategy
CUBI (Customers Bancorp, Inc.), in the Financial Services sector, (Banks - Regional industry), listed on NYSE.
Customers Bancorp, Inc. operates as the bank holding company for Customers Bank that provides banking products and services. It provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts, as well as individual retirement accounts and non-retail time deposits consisting of jumbo certificates. The company’s lending business offers commercial and industrial, commercial real estate, and multifamily and residential mortgage loans; SBA lending; mortgage finance; specialty lending includes fund finance, real estate specialty finance, technology and venture, and healthcare and financial institutions group; commercial loans to mortgage companies, and commercial equipment financing; fund finance, such as variable rate loans secured by collateral pools to private debt funds; and cash management services. In addition, it provides digital banking, such as Banking-as-a-Service to fintech companies; payments and treasury services to businesses; consumer loans through fintech companies; and the TassatPay, an instant blockchain-based digital payments platform which offers instant payments, including over-the-counter desks, exchanges, liquidity providers, market makers, funds, title companies, and other B2B verticals. Further, the company offers mobile phone and internet banking, wire transfers, electronic bill payment, lock box, remote deposit capture, courier, merchant processing, cash vault, controlled disbursements, positive pay, and cash management services comprising account reconciliation, collections, and sweep accounts. The company was founded in 1997 and is headquartered in West Reading, Pennsylvania.
CUBI (Customers Bancorp, Inc.) trades in the Financial Services sector, specifically Banks - Regional, with a market capitalization of approximately $2.74B, a trailing P/E of 9.83, a beta of 1.50 versus the broader market, a 52-week range of 58.52-82.56, average daily share volume of 337K, a public-listing history dating back to 2012, approximately 864 full-time employees. These structural characteristics shape how CUBI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.50 indicates CUBI 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 9.83 is on the value side, where IV often compresses outside event windows because forward growth expectations are already discounted into the share price.
What is a iron condor on CUBI?
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 CUBI snapshot
As of June 29, 2026, spot at $79.04, ATM IV 34.80%, IV rank 15.59%, expected move 9.98%. The iron condor on CUBI 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 53-day expiry.
Why this iron condor structure on CUBI specifically: CUBI IV at 34.80% is on the cheap side of its 1-year range, which means a premium-selling CUBI iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 9.98% (roughly $7.89 on the underlying). The 53-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated CUBI expiries trade a higher absolute premium for lower per-day decay. Position sizing on CUBI should anchor to the underlying notional of $79.04 per share and to the trader's directional view on CUBI stock.
CUBI iron condor setup
The CUBI 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 CUBI near $79.04, the first option leg uses a $82.50 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CUBI chain at a 53-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 CUBI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $82.50 | $3.38 |
| Buy 1 | Call | $87.50 | $1.70 |
| Sell 1 | Put | $75.00 | $3.15 |
| Buy 1 | Put | $70.00 | $1.88 |
CUBI iron condor risk and reward
- Net Premium / Debit
- +$295.00
- Max Profit (per contract)
- $295.00
- Max Loss (per contract)
- -$205.00
- Breakeven(s)
- $72.05, $85.45
- Risk / Reward Ratio
- 1.439
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.
CUBI iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on CUBI. 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.
| Underlying Price | % From Spot | P&L at Expiration |
|---|---|---|
| $0.01 | -100.0% | -$205.00 |
| $17.49 | -77.9% | -$205.00 |
| $34.96 | -55.8% | -$205.00 |
| $52.44 | -33.7% | -$205.00 |
| $69.91 | -11.6% | -$205.00 |
| $87.39 | +10.6% | -$193.54 |
| $104.86 | +32.7% | -$205.00 |
| $122.34 | +54.8% | -$205.00 |
| $139.81 | +76.9% | -$205.00 |
| $157.29 | +99.0% | -$205.00 |
When traders use iron condor on CUBI
Iron condors on CUBI are a delta-neutral premium-collection structure that profits if CUBI stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
CUBI thesis for this iron condor
The market-implied 1-standard-deviation range for CUBI extends from approximately $71.15 on the downside to $86.93 on the upside. A CUBI iron condor is a delta-neutral premium-collection structure that pays off when CUBI 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 CUBI IV rank near 15.59% 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 CUBI at 34.80%. As a Financial Services name, CUBI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CUBI-specific events.
CUBI 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. CUBI positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CUBI alongside the broader basket even when CUBI-specific fundamentals are unchanged. Short-premium structures like a iron condor on CUBI carry tail risk when realized volatility exceeds the implied move; review historical CUBI earnings reactions and macro stress periods before sizing. Always rebuild the position from current CUBI chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on CUBI?
- A iron condor on CUBI is the iron condor strategy applied to CUBI (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 CUBI stock trading near $79.04, the strikes shown on this page are snapped to the nearest listed CUBI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are CUBI 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 CUBI iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 34.80%), the computed maximum profit is $295.00 per contract and the computed maximum loss is -$205.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a CUBI iron condor?
- The breakeven for the CUBI iron condor priced on this page is roughly $72.05 and $85.45 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 CUBI market-implied 1-standard-deviation expected move is approximately 9.98%; 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 CUBI?
- Iron condors on CUBI are a delta-neutral premium-collection structure that profits if CUBI stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current CUBI implied volatility affect this iron condor?
- CUBI ATM IV is at 34.80% with IV rank near 15.59%, 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.