EVTC Iron Condor Strategy
EVTC (EVERTEC, Inc.), in the Technology sector, (Software - Infrastructure industry), listed on NYSE.
EVERTEC, Inc. engages in transaction processing business in Latin America and the Caribbean. The company operates through Payment Services - Puerto Rico & Caribbean; Payment Services - Latin America; Merchant Acquiring; Business Solutions, and Corporate and Other segments. It provides merchant acquiring services, which enable point of sales and e-commerce merchants to accept and process electronic methods of payment, such as debit, credit, prepaid, and electronic benefit transfer (EBT) cards. The company also offers payment processing services that enable financial institutions and other issuers to manage, support, and facilitate the processing for credit, debit, prepaid, automated teller machines, and EBT card programs; credit and debit card processing, authorization and settlement, and fraud monitoring and control services to debit or credit issuers; and EBT services. In addition, it provides business process management solutions comprising core bank processing, network hosting and management, IT consulting, business process outsourcing, item and cash processing, and fulfillment solutions to financial institutions, and corporate and government customers. Further, the company owns and operates the ATH network, an automated teller machine and personal identification number debit networks.
EVTC (EVERTEC, Inc.) trades in the Technology sector, specifically Software - Infrastructure, with a market capitalization of approximately $1.45B, a trailing P/E of 10.97, a beta of 0.81 versus the broader market, a 52-week range of 21.82-38.56, average daily share volume of 498K, a public-listing history dating back to 2013, approximately 5K full-time employees. These structural characteristics shape how EVTC stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.81 places EVTC roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 10.97 is on the value side, where IV often compresses outside event windows because forward growth expectations are already discounted into the share price. EVTC pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on EVTC?
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 EVTC snapshot
As of May 15, 2026, spot at $23.62, ATM IV 72.30%, IV rank 26.51%, expected move 20.73%. The iron condor on EVTC 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 EVTC specifically: EVTC IV at 72.30% is on the cheap side of its 1-year range, which means a premium-selling EVTC iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 20.73% (roughly $4.90 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 EVTC expiries trade a higher absolute premium for lower per-day decay. Position sizing on EVTC should anchor to the underlying notional of $23.62 per share and to the trader's directional view on EVTC stock.
EVTC iron condor setup
The EVTC 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 EVTC near $23.62, the first option leg uses a $24.80 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed EVTC 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 EVTC shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $24.80 | N/A |
| Buy 1 | Call | $25.98 | N/A |
| Sell 1 | Put | $22.44 | N/A |
| Buy 1 | Put | $21.26 | N/A |
EVTC 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.
EVTC iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on EVTC. 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 EVTC
Iron condors on EVTC are a delta-neutral premium-collection structure that profits if EVTC stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
EVTC thesis for this iron condor
The market-implied 1-standard-deviation range for EVTC extends from approximately $18.72 on the downside to $28.52 on the upside. A EVTC iron condor is a delta-neutral premium-collection structure that pays off when EVTC 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 EVTC IV rank near 26.51% 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 EVTC at 72.30%. As a Technology name, EVTC options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to EVTC-specific events.
EVTC 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. EVTC positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move EVTC alongside the broader basket even when EVTC-specific fundamentals are unchanged. Short-premium structures like a iron condor on EVTC carry tail risk when realized volatility exceeds the implied move; review historical EVTC earnings reactions and macro stress periods before sizing. Always rebuild the position from current EVTC chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on EVTC?
- A iron condor on EVTC is the iron condor strategy applied to EVTC (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 EVTC stock trading near $23.62, the strikes shown on this page are snapped to the nearest listed EVTC chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are EVTC 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 EVTC iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 72.30%), 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 EVTC iron condor?
- The breakeven for the EVTC 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 EVTC market-implied 1-standard-deviation expected move is approximately 20.73%; 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 EVTC?
- Iron condors on EVTC are a delta-neutral premium-collection structure that profits if EVTC stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current EVTC implied volatility affect this iron condor?
- EVTC ATM IV is at 72.30% with IV rank near 26.51%, 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.