VMRK Iron Condor Strategy
VMRK (Vivmark Residential), in the Real Estate sector, (REIT - Residential industry), listed on NYSE.
Vivmark Residential is a real estate investment trust (REIT) and S&P 500 company formed through the August 2026 merger of equals between Equity Residential and AvalonBay Communities. The company focuses on the ownership, development, and management of high-quality apartment communities in premier U.S. markets, including major coastal cities and high-growth metro areas. Vivmark's portfolio consists of over 184,000 apartment homes with a substantial development pipeline. [25, 28, 40]
VMRK (Vivmark Residential) trades in the Real Estate sector, specifically REIT - Residential, with a market capitalization of approximately $22.78B, a trailing P/E of 26.54, a beta of 0.75 versus the broader market, a 52-week range of 57.57-71.5, average daily share volume of 4.3M, a public-listing history dating back to 1993, approximately 3K full-time employees. These structural characteristics shape how VMRK stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.75 places VMRK roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. VMRK pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on VMRK?
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.
VMRK snapshot
As of September 29, 2026, spot at $61.38, ATM IV 24.10%, expected move 6.91%. The iron condor on VMRK below is built from the September 29, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 17-day expiry.
Why this iron condor structure on VMRK specifically: IV rank is unavailable in the current snapshot, so regime-based timing for VMRK is inferred from ATM IV at 24.10% alone, with a market-implied 1-standard-deviation move of approximately 6.91% (roughly $4.24 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated VMRK expiries trade a higher absolute premium for lower per-day decay. Position sizing on VMRK should anchor to the underlying notional of $61.38 per share and to the trader's directional view on VMRK stock.
VMRK iron condor setup
The VMRK iron condor below is built from the September 29, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With VMRK at $61.38 on that close, the first option leg uses a $65.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed VMRK chain at a 17-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 VMRK shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $65.00 | $0.43 |
| Buy 1 | Call | $67.50 | $0.03 |
| Sell 1 | Put | $57.50 | $0.25 |
| Buy 1 | Put | $55.00 | $0.18 |
VMRK iron condor risk and reward
- Net Premium / Debit
- +$47.00
- Max Profit (per contract)
- $47.00
- Max Loss (per contract)
- -$203.00
- Breakeven(s)
- $57.03, $65.47
- Risk / Reward Ratio
- 0.232
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.
VMRK iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on VMRK. 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% | -$203.00 |
| $13.58 | -77.9% | -$203.00 |
| $27.15 | -55.8% | -$203.00 |
| $40.72 | -33.7% | -$203.00 |
| $54.29 | -11.5% | -$203.00 |
| $67.86 | +10.6% | -$203.00 |
| $81.43 | +32.7% | -$203.00 |
| $95.00 | +54.8% | -$203.00 |
| $108.57 | +76.9% | -$203.00 |
| $122.14 | +99.0% | -$203.00 |
When traders use iron condor on VMRK
Iron condors on VMRK are a delta-neutral premium-collection structure that profits if VMRK stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
VMRK thesis for this iron condor
The market-implied 1-standard-deviation range for VMRK extends from approximately $57.14 on the downside to $65.62 on the upside. A VMRK iron condor is a delta-neutral premium-collection structure that pays off when VMRK 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 Real Estate name, VMRK options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to VMRK-specific events.
VMRK 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. VMRK positions also carry Real Estate sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move VMRK alongside the broader basket even when VMRK-specific fundamentals are unchanged. Short-premium structures like a iron condor on VMRK carry tail risk when realized volatility exceeds the implied move; review historical VMRK earnings reactions and macro stress periods before sizing. Always rebuild the position from current VMRK chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on VMRK?
- A iron condor on VMRK is the iron condor strategy applied to VMRK (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 VMRK stock at $61.38 on the September 29, 2026 close, the strikes shown on this page are snapped to the nearest listed VMRK chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are VMRK 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 VMRK iron condor priced from the September 29, 2026 end-of-day chain at a 30-day expiry (ATM IV 24.10%), the computed maximum profit is $47.00 per contract and the computed maximum loss is -$203.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a VMRK iron condor?
- The breakeven for the VMRK iron condor priced on this page is roughly $57.03 and $65.47 at expiration, derived from the September 29, 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 VMRK market-implied 1-standard-deviation expected move in the same options snapshot is approximately 6.91%; 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 VMRK?
- Iron condors on VMRK are a delta-neutral premium-collection structure that profits if VMRK stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current VMRK implied volatility affect this iron condor?
- Current VMRK ATM IV is 24.10%; IV rank context is unavailable in the current snapshot.