PINK Iron Condor Strategy
PINK (Simplify Health Care ETF), in the Financial Services sector, (Asset Management industry), listed on AMEX.
The Simplify Health Care ETF (PINK) seeks long term capital appreciation by providing investors with multi-cap exposure to groundbreaking and innovative companies in biotech, medtech, gene therapy, and other fast growing health care related sectors. Michael Taylor serves as lead portfolio manager of the ETF and brings over two decades of experience managing long/short health care equity portfolios at leading hedge funds. PINK is the first 100% pro bono ETF focused on the health care sector and net profits will be donated for the benefit of the Susan G. Komen foundation on an annual basis. PINK: Shares for the Cure Find out more. Benefiting Donations$350,000as of 09/01/25
PINK (Simplify Health Care ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $141.7M, a beta of 0.80 versus the broader market, a 52-week range of 27.56-38.68, average daily share volume of 121K, a public-listing history dating back to 2021. These structural characteristics shape how PINK etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.80 places PINK roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. PINK pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on PINK?
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 PINK snapshot
As of May 15, 2026, spot at $36.59, ATM IV 29.90%, IV rank 25.35%, expected move 8.57%. The iron condor on PINK 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 63-day expiry.
Why this iron condor structure on PINK specifically: PINK IV at 29.90% is on the cheap side of its 1-year range, which means a premium-selling PINK iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 8.57% (roughly $3.14 on the underlying). The 63-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated PINK expiries trade a higher absolute premium for lower per-day decay. Position sizing on PINK should anchor to the underlying notional of $36.59 per share and to the trader's directional view on PINK etf.
PINK iron condor setup
The PINK 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 PINK near $36.59, the first option leg uses a $38.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed PINK chain at a 63-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 PINK shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $38.00 | $1.06 |
| Buy 1 | Call | $40.00 | $0.51 |
| Sell 1 | Put | $35.00 | $0.82 |
| Buy 1 | Put | $33.00 | $0.32 |
PINK iron condor risk and reward
- Net Premium / Debit
- +$105.00
- Max Profit (per contract)
- $105.00
- Max Loss (per contract)
- -$95.00
- Breakeven(s)
- $33.95, $39.05
- Risk / Reward Ratio
- 1.105
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.
PINK iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on PINK. 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% | -$95.00 |
| $8.10 | -77.9% | -$95.00 |
| $16.19 | -55.8% | -$95.00 |
| $24.28 | -33.7% | -$95.00 |
| $32.37 | -11.5% | -$95.00 |
| $40.46 | +10.6% | -$95.00 |
| $48.54 | +32.7% | -$95.00 |
| $56.63 | +54.8% | -$95.00 |
| $64.72 | +76.9% | -$95.00 |
| $72.81 | +99.0% | -$95.00 |
When traders use iron condor on PINK
Iron condors on PINK are a delta-neutral premium-collection structure that profits if PINK etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
PINK thesis for this iron condor
The market-implied 1-standard-deviation range for PINK extends from approximately $33.45 on the downside to $39.73 on the upside. A PINK iron condor is a delta-neutral premium-collection structure that pays off when PINK 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 PINK IV rank near 25.35% 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 PINK at 29.90%. As a Financial Services name, PINK options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to PINK-specific events.
PINK 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. PINK positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move PINK alongside the broader basket even when PINK-specific fundamentals are unchanged. Short-premium structures like a iron condor on PINK carry tail risk when realized volatility exceeds the implied move; review historical PINK earnings reactions and macro stress periods before sizing. Always rebuild the position from current PINK chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on PINK?
- A iron condor on PINK is the iron condor strategy applied to PINK (etf). 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 PINK etf trading near $36.59, the strikes shown on this page are snapped to the nearest listed PINK chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are PINK 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 PINK iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 29.90%), the computed maximum profit is $105.00 per contract and the computed maximum loss is -$95.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a PINK iron condor?
- The breakeven for the PINK iron condor priced on this page is roughly $33.95 and $39.05 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 PINK market-implied 1-standard-deviation expected move is approximately 8.57%; 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 PINK?
- Iron condors on PINK are a delta-neutral premium-collection structure that profits if PINK etf stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current PINK implied volatility affect this iron condor?
- PINK ATM IV is at 29.90% with IV rank near 25.35%, 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.