WIX Iron Condor Strategy
WIX (Wix.com Ltd.), in the Technology sector, (Software - Infrastructure industry), listed on NASDAQ.
Wix.com Ltd., together with its subsidiaries, develops and markets a cloud-based platform that enables anyone to create a website or web application in North America, Europe, Latin America, Asia, and internationally. The company offers Wix Editor, a drag-and-drop visual development and website editing environment platform; Wix ADI that enables users to create a website for their specific needs; and Corvid by Wix to create websites and web applications. It also provides Ascend by Wix, which offers its users access to a suite of approximately 20 products or features enabling them to connect with their customers, automate their work, and grow their business; Wix Logo Maker that allows users to generate a logo using artificial intelligence; Wix Answers, a support infrastructure enabling its users to help their users across various channels; and Wix Payments, a payment platform, which helps its users receive payments from their users through their Wix Website. In addition, the company offers various vertical-specific applications that business owners use to operate various aspects of their business online. Further, it provides a range of complementary services, including App Market that offers its registered users the ability to install and uninstall a range of free and paid web applications; Wix Arena, an online marketplace that brings users seeking help in creating and managing a website, together with Web experts; and Wix App, a native mobile application, which enables users to manage their Websites and Wix operating systems. As of December 31, 2021, the company had approximately 222 million registered users and 6 million premium subscriptions.
WIX (Wix.com Ltd.) trades in the Technology sector, specifically Software - Infrastructure, with a market capitalization of approximately $3.05B, a trailing P/E of 60.02, a beta of 1.01 versus the broader market, a 52-week range of 51.6-190.93, average daily share volume of 2.7M, a public-listing history dating back to 2013, approximately 4K full-time employees. These structural characteristics shape how WIX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.01 places WIX roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 60.02 is on the rich side, which tends to correlate with higher earnings-window IV expansion as the market debates whether forward growth supports the multiple.
What is a iron condor on WIX?
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 WIX snapshot
As of May 15, 2026, spot at $55.05, ATM IV 70.60%, IV rank 28.79%, expected move 20.24%. The iron condor on WIX 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 WIX specifically: WIX IV at 70.60% is on the cheap side of its 1-year range, which means a premium-selling WIX iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 20.24% (roughly $11.14 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 WIX expiries trade a higher absolute premium for lower per-day decay. Position sizing on WIX should anchor to the underlying notional of $55.05 per share and to the trader's directional view on WIX stock.
WIX iron condor setup
The WIX 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 WIX near $55.05, the first option leg uses a $57.50 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed WIX 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 WIX shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $57.50 | $3.65 |
| Buy 1 | Call | $60.00 | $2.88 |
| Sell 1 | Put | $52.50 | $3.50 |
| Buy 1 | Put | $50.00 | $2.48 |
WIX iron condor risk and reward
- Net Premium / Debit
- +$180.00
- Max Profit (per contract)
- $180.00
- Max Loss (per contract)
- -$70.00
- Breakeven(s)
- $50.70, $59.30
- Risk / Reward Ratio
- 2.571
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.
WIX iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on WIX. 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% | -$70.00 |
| $12.18 | -77.9% | -$70.00 |
| $24.35 | -55.8% | -$70.00 |
| $36.52 | -33.7% | -$70.00 |
| $48.69 | -11.5% | -$70.00 |
| $60.86 | +10.6% | -$70.00 |
| $73.03 | +32.7% | -$70.00 |
| $85.21 | +54.8% | -$70.00 |
| $97.38 | +76.9% | -$70.00 |
| $109.55 | +99.0% | -$70.00 |
When traders use iron condor on WIX
Iron condors on WIX are a delta-neutral premium-collection structure that profits if WIX stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
WIX thesis for this iron condor
The market-implied 1-standard-deviation range for WIX extends from approximately $43.91 on the downside to $66.19 on the upside. A WIX iron condor is a delta-neutral premium-collection structure that pays off when WIX 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 WIX IV rank near 28.79% 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 WIX at 70.60%. As a Technology name, WIX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to WIX-specific events.
WIX 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. WIX positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move WIX alongside the broader basket even when WIX-specific fundamentals are unchanged. Short-premium structures like a iron condor on WIX carry tail risk when realized volatility exceeds the implied move; review historical WIX earnings reactions and macro stress periods before sizing. Always rebuild the position from current WIX chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on WIX?
- A iron condor on WIX is the iron condor strategy applied to WIX (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 WIX stock trading near $55.05, the strikes shown on this page are snapped to the nearest listed WIX chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are WIX 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 WIX iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 70.60%), the computed maximum profit is $180.00 per contract and the computed maximum loss is -$70.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a WIX iron condor?
- The breakeven for the WIX iron condor priced on this page is roughly $50.70 and $59.30 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 WIX market-implied 1-standard-deviation expected move is approximately 20.24%; 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 WIX?
- Iron condors on WIX are a delta-neutral premium-collection structure that profits if WIX stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current WIX implied volatility affect this iron condor?
- WIX ATM IV is at 70.60% with IV rank near 28.79%, 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.