FTHM Iron Condor Strategy
FTHM (Fathom Holdings Inc.), in the Real Estate sector, (Real Estate - Services industry), listed on NASDAQ.
Fathom Holdings Inc. provides cloud-based real estate brokerage services in the South, Atlantic, Southwest, and Western parts of the United States. It operates through three segments: Real Estate Brokerage, Mortgage, and Technology. The Real Estate Brokerage segment provides real estate brokerage services. The Mortgage segment offers residential loan origination and underwriting services. The Technology segment provides Software as a Service solutions and data mining for third party customers to develop its intelliAgent platform for use by the company's real estate agents. The company operates a real estate services platform that integrates residential brokerage, mortgage, title, and insurance services, as well as supporting software called intelliAgent.
FTHM (Fathom Holdings Inc.) trades in the Real Estate sector, specifically Real Estate - Services, with a market capitalization of approximately $23.2M, a beta of 2.46 versus the broader market, a 52-week range of 0.484-3.37, average daily share volume of 132K, a public-listing history dating back to 2020, approximately 270 full-time employees. These structural characteristics shape how FTHM stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.46 indicates FTHM has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.
What is a iron condor on FTHM?
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 FTHM snapshot
As of May 15, 2026, spot at $0.67, ATM IV 21.00%, IV rank 0.94%, expected move 6.02%. The iron condor on FTHM 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 FTHM specifically: FTHM IV at 21.00% is on the cheap side of its 1-year range, which means a premium-selling FTHM iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 6.02% (roughly $0.04 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 FTHM expiries trade a higher absolute premium for lower per-day decay. Position sizing on FTHM should anchor to the underlying notional of $0.67 per share and to the trader's directional view on FTHM stock.
FTHM iron condor setup
The FTHM 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 FTHM near $0.67, the first option leg uses a $0.70 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed FTHM 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 FTHM shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $0.70 | N/A |
| Buy 1 | Call | $0.74 | N/A |
| Sell 1 | Put | $0.64 | N/A |
| Buy 1 | Put | $0.60 | N/A |
FTHM 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.
FTHM iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on FTHM. 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 FTHM
Iron condors on FTHM are a delta-neutral premium-collection structure that profits if FTHM stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
FTHM thesis for this iron condor
The market-implied 1-standard-deviation range for FTHM extends from approximately $0.63 on the downside to $0.71 on the upside. A FTHM iron condor is a delta-neutral premium-collection structure that pays off when FTHM 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 FTHM IV rank near 0.94% 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 FTHM at 21.00%. As a Real Estate name, FTHM options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to FTHM-specific events.
FTHM 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. FTHM positions also carry Real Estate sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move FTHM alongside the broader basket even when FTHM-specific fundamentals are unchanged. Short-premium structures like a iron condor on FTHM carry tail risk when realized volatility exceeds the implied move; review historical FTHM earnings reactions and macro stress periods before sizing. Always rebuild the position from current FTHM chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on FTHM?
- A iron condor on FTHM is the iron condor strategy applied to FTHM (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 FTHM stock trading near $0.67, the strikes shown on this page are snapped to the nearest listed FTHM chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are FTHM 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 FTHM iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 21.00%), 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 FTHM iron condor?
- The breakeven for the FTHM 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 FTHM market-implied 1-standard-deviation expected move is approximately 6.02%; 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 FTHM?
- Iron condors on FTHM are a delta-neutral premium-collection structure that profits if FTHM stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current FTHM implied volatility affect this iron condor?
- FTHM ATM IV is at 21.00% with IV rank near 0.94%, 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.