CXAI Iron Condor Strategy
CXAI (CXApp Inc.), in the Technology sector, (Software - Application industry), listed on NASDAQ.
CXApp Inc. provides a workplace experience platform for enterprise customers. It offers CXApp, a software-as-a-service platform with native mapping, analytics, on-device positioning, and applications technologies for use in various applications, such as workplace experience, employee engagement, desk and meeting room reservations, workplace analytics, occupancy management, content delivery, corporate communications and notifications, event management, live indoor mapping, wayfinding, and navigation. The company was formerly known as KINS Technology Group Inc. and changed its name to CXApp Inc. in March 2023. The company is based in Palo Alto, California.
CXAI (CXApp Inc.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $3.3M, a beta of 0.85 versus the broader market, a 52-week range of 0.1345-1.45, average daily share volume of 10.0M, a public-listing history dating back to 2021, approximately 41 full-time employees. These structural characteristics shape how CXAI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.85 places CXAI roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.
What is a iron condor on CXAI?
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 CXAI snapshot
As of May 15, 2026, spot at $0.14, ATM IV 26.30%, IV rank 1.84%, expected move 7.54%. The iron condor on CXAI 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 CXAI specifically: CXAI IV at 26.30% is on the cheap side of its 1-year range, which means a premium-selling CXAI iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 7.54% (roughly $0.01 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 CXAI expiries trade a higher absolute premium for lower per-day decay. Position sizing on CXAI should anchor to the underlying notional of $0.14 per share and to the trader's directional view on CXAI stock.
CXAI iron condor setup
The CXAI 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 CXAI near $0.14, the first option leg uses a $0.15 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CXAI 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 CXAI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $0.15 | N/A |
| Buy 1 | Call | $0.15 | N/A |
| Sell 1 | Put | $0.13 | N/A |
| Buy 1 | Put | $0.13 | N/A |
CXAI 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.
CXAI iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on CXAI. 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 CXAI
Iron condors on CXAI are a delta-neutral premium-collection structure that profits if CXAI stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
CXAI thesis for this iron condor
The market-implied 1-standard-deviation range for CXAI extends from approximately $0.13 on the downside to $0.15 on the upside. A CXAI iron condor is a delta-neutral premium-collection structure that pays off when CXAI 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 CXAI IV rank near 1.84% 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 CXAI at 26.30%. As a Technology name, CXAI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CXAI-specific events.
CXAI 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. CXAI positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CXAI alongside the broader basket even when CXAI-specific fundamentals are unchanged. Short-premium structures like a iron condor on CXAI carry tail risk when realized volatility exceeds the implied move; review historical CXAI earnings reactions and macro stress periods before sizing. Always rebuild the position from current CXAI chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on CXAI?
- A iron condor on CXAI is the iron condor strategy applied to CXAI (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 CXAI stock trading near $0.14, the strikes shown on this page are snapped to the nearest listed CXAI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are CXAI 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 CXAI iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 26.30%), 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 CXAI iron condor?
- The breakeven for the CXAI 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 CXAI market-implied 1-standard-deviation expected move is approximately 7.54%; 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 CXAI?
- Iron condors on CXAI are a delta-neutral premium-collection structure that profits if CXAI stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current CXAI implied volatility affect this iron condor?
- CXAI ATM IV is at 26.30% with IV rank near 1.84%, 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.