WMK Iron Condor Strategy
WMK (Weis Markets, Inc.), in the Consumer Defensive sector, (Grocery Stores industry), listed on NYSE.
Weis Markets, Inc. engages in the retail sale of food through a chain of supermarkets in Pennsylvania and surrounding states. The company's retail food stores sell groceries, dairy products, frozen foods, meats, seafood, fresh produce, floral, pharmacy services, deli products, prepared foods, bakery products, beer and wine, and fuel; and general merchandise items, such as health and beauty care, and household products. It operates stores primarily under the Weis Markets name, as well as Weis, Weis 2 Go, Weis Great Meals Start Here, Weis Gas-n-Go, and Weis Nutri-Facts. As of March 7, 2022, the company owned and operated 197 stores in Pennsylvania, Maryland, Delaware, New Jersey, New York, West Virginia, and Virginia. Weis Markets, Inc. was founded in 1912 and is based in Sunbury, Pennsylvania.
WMK (Weis Markets, Inc.) trades in the Consumer Defensive sector, specifically Grocery Stores, with a market capitalization of approximately $1.73B, a trailing P/E of 17.12, a beta of 0.45 versus the broader market, a 52-week range of 59.99-79.05, average daily share volume of 151K, a public-listing history dating back to 1980, approximately 22K full-time employees. These structural characteristics shape how WMK stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.45 indicates WMK has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. WMK pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on WMK?
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 WMK snapshot
As of May 15, 2026, spot at $70.72, ATM IV 44.00%, IV rank 7.72%, expected move 12.61%. The iron condor on WMK 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 WMK specifically: WMK IV at 44.00% is on the cheap side of its 1-year range, which means a premium-selling WMK iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 12.61% (roughly $8.92 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 WMK expiries trade a higher absolute premium for lower per-day decay. Position sizing on WMK should anchor to the underlying notional of $70.72 per share and to the trader's directional view on WMK stock.
WMK iron condor setup
The WMK 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 WMK near $70.72, the first option leg uses a $74.26 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed WMK 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 WMK shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $74.26 | N/A |
| Buy 1 | Call | $77.79 | N/A |
| Sell 1 | Put | $67.18 | N/A |
| Buy 1 | Put | $63.65 | N/A |
WMK 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.
WMK iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on WMK. 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 WMK
Iron condors on WMK are a delta-neutral premium-collection structure that profits if WMK stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
WMK thesis for this iron condor
The market-implied 1-standard-deviation range for WMK extends from approximately $61.80 on the downside to $79.64 on the upside. A WMK iron condor is a delta-neutral premium-collection structure that pays off when WMK 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 WMK IV rank near 7.72% 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 WMK at 44.00%. As a Consumer Defensive name, WMK options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to WMK-specific events.
WMK 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. WMK positions also carry Consumer Defensive sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move WMK alongside the broader basket even when WMK-specific fundamentals are unchanged. Short-premium structures like a iron condor on WMK carry tail risk when realized volatility exceeds the implied move; review historical WMK earnings reactions and macro stress periods before sizing. Always rebuild the position from current WMK chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on WMK?
- A iron condor on WMK is the iron condor strategy applied to WMK (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 WMK stock trading near $70.72, the strikes shown on this page are snapped to the nearest listed WMK chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are WMK 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 WMK iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 44.00%), 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 WMK iron condor?
- The breakeven for the WMK 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 WMK market-implied 1-standard-deviation expected move is approximately 12.61%; 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 WMK?
- Iron condors on WMK are a delta-neutral premium-collection structure that profits if WMK stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current WMK implied volatility affect this iron condor?
- WMK ATM IV is at 44.00% with IV rank near 7.72%, 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.