WEAV Iron Condor Strategy
WEAV (Weave Communications, Inc.), in the Technology sector, (Software - Application industry), listed on NYSE.
Weave Communications, Inc. delivers a comprehensive software platform designed for customer communication and engagement across the United States and Canada. This platform empowers small and medium-sized businesses (SMBs) to elevate the effectiveness of their customer interactions while significantly reducing the labor involved in routine or repetitive duties. Among its diverse offerings are a sophisticated Phone System capable of discerning new from existing callers, delivering pertinent information during calls, and efficiently managing peak call volumes. It also provides dedicated Text Messaging for direct customer communication and a Missed Call Text feature that facilitates immediate follow-up on unanswered calls. For internal team collaboration, Weave Team offers an internal group messaging solution to foster seamless communication among staff members. A versatile Mobile App further extends functionality for customer texting, payment requests, and handling inbound/outbound calls.
WEAV (Weave Communications, Inc.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $471.0M, a beta of 1.69 versus the broader market, a 52-week range of 4.24-9.1, average daily share volume of 1.3M, a public-listing history dating back to 2021, approximately 854 full-time employees. These structural characteristics shape how WEAV stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.69 indicates WEAV 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 WEAV?
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 WEAV snapshot
As of June 30, 2026, spot at $6.03, ATM IV 72.60%, IV rank 12.26%, expected move 20.81%. The iron condor on WEAV 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 17-day expiry.
Why this iron condor structure on WEAV specifically: WEAV IV at 72.60% is on the cheap side of its 1-year range, which means a premium-selling WEAV iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 20.81% (roughly $1.26 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 WEAV expiries trade a higher absolute premium for lower per-day decay. Position sizing on WEAV should anchor to the underlying notional of $6.03 per share and to the trader's directional view on WEAV stock.
WEAV iron condor setup
The WEAV 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 WEAV near $6.03, the first option leg uses a $6.33 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed WEAV 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 WEAV shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $6.33 | N/A |
| Buy 1 | Call | $6.63 | N/A |
| Sell 1 | Put | $5.73 | N/A |
| Buy 1 | Put | $5.43 | N/A |
WEAV 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.
WEAV iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on WEAV. 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 WEAV
Iron condors on WEAV are a delta-neutral premium-collection structure that profits if WEAV stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
WEAV thesis for this iron condor
The market-implied 1-standard-deviation range for WEAV extends from approximately $4.77 on the downside to $7.29 on the upside. A WEAV iron condor is a delta-neutral premium-collection structure that pays off when WEAV 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 WEAV IV rank near 12.26% 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 WEAV at 72.60%. As a Technology name, WEAV options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to WEAV-specific events.
WEAV 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. WEAV positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move WEAV alongside the broader basket even when WEAV-specific fundamentals are unchanged. Short-premium structures like a iron condor on WEAV carry tail risk when realized volatility exceeds the implied move; review historical WEAV earnings reactions and macro stress periods before sizing. Always rebuild the position from current WEAV chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on WEAV?
- A iron condor on WEAV is the iron condor strategy applied to WEAV (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 WEAV stock trading near $6.03, the strikes shown on this page are snapped to the nearest listed WEAV chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are WEAV 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 WEAV iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 72.60%), 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 WEAV iron condor?
- The breakeven for the WEAV 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 WEAV market-implied 1-standard-deviation expected move is approximately 20.81%; 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 WEAV?
- Iron condors on WEAV are a delta-neutral premium-collection structure that profits if WEAV stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current WEAV implied volatility affect this iron condor?
- WEAV ATM IV is at 72.60% with IV rank near 12.26%, 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.