ACIU Long Call Strategy

ACIU (AC Immune S.A.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.

AC Immune SA, a clinical stage biopharmaceutical company, discovers, designs, and develops medicines and diagnostic products for the prevention and treatment of neurodegenerative diseases associated with protein misfolding. Its SupraAntigen and Morphomer platforms are designed to generate vaccines, antibodies, and small molecules, which selectively interact with misfolded proteins that are common in a range of neurodegenerative diseases. The company is developing Crenezumab, a humanized, conformation-specific monoclonal antibody, which is in Phase II clinical prevention trial for the treatment of Alzheimer's disease (AD). It is also developing ACI-24, an anti-Abeta vaccine candidate that is in Phase II clinical study for AD, as well as completed Phase Ib clinical study for Down syndrome; ACI-35, an anti-Tau vaccine candidate that has completed Phase Ib clinical study; and Tau- positron emission tomography (PET) imaging tracer, which is in Phase II clinical study. In addition, the company is researching and developing small molecule Tau aggregation inhibitors for AD and NeuroOrphan indications. Further, it has discovery and preclinical stage molecules targeting range of neurodegenerative diseases, which include diagnostics targeting TDP-43, alpha-synuclein, and NLRP3.

ACIU (AC Immune S.A.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $289.0M, a beta of 1.63 versus the broader market, a 52-week range of 1.52-4, average daily share volume of 289K, a public-listing history dating back to 2016, approximately 133 full-time employees. These structural characteristics shape how ACIU stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.63 indicates ACIU 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 long call on ACIU?

A long call buys upside exposure with a fixed maximum loss equal to the premium paid; profit accrues if the underlying closes above the strike plus premium at expiration.

Current ACIU snapshot

As of May 15, 2026, spot at $2.81, ATM IV 23.50%, IV rank 1.16%, expected move 6.74%. The long call on ACIU 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 long call structure on ACIU specifically: ACIU IV at 23.50% is on the cheap side of its 1-year range, which favors premium-buying structures like a ACIU long call, with a market-implied 1-standard-deviation move of approximately 6.74% (roughly $0.19 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 ACIU expiries trade a higher absolute premium for lower per-day decay. Position sizing on ACIU should anchor to the underlying notional of $2.81 per share and to the trader's directional view on ACIU stock.

ACIU long call setup

The ACIU long call below is built from the end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With ACIU near $2.81, the first option leg uses a $2.81 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ACIU 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 ACIU shares for the stock leg in covered calls and collars).

ActionTypeStrike / BasisPremium (est)
Buy 1Call$2.81N/A

ACIU long call 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 is unbounded; max loss equals the premium paid times 100. Breakeven is strike plus premium.

ACIU long call payoff curve

Modeled P&L at expiration across a range of underlying prices for the long call on ACIU. 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 long call on ACIU

Long calls on ACIU express a bullish thesis with defined risk; traders use them ahead of ACIU catalysts (earnings, product launches, macro events) when the expected upside justifies the premium and theta decay.

ACIU thesis for this long call

The market-implied 1-standard-deviation range for ACIU extends from approximately $2.62 on the downside to $3.00 on the upside. A ACIU long call expresses a directional view that the underlying closes above the strike plus premium at expiration, ideally with implied volatility holding or expanding to preserve extrinsic value through the hold period. Current ACIU IV rank near 1.16% 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 ACIU at 23.50%. As a Healthcare name, ACIU options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ACIU-specific events.

ACIU long call positions are structurally bullish; 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. ACIU positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ACIU alongside the broader basket even when ACIU-specific fundamentals are unchanged. Long-premium structures like a long call on ACIU are particularly exposed to IV-crush risk through scheduled events (earnings, FDA decisions, central-bank meetings) where IV typically contracts post-event regardless of the directional outcome. Always rebuild the position from current ACIU chain quotes before placing a trade.

Frequently asked questions

What is a long call on ACIU?
A long call on ACIU is the long call strategy applied to ACIU (stock). The strategy is structurally bullish: A long call buys upside exposure with a fixed maximum loss equal to the premium paid; profit accrues if the underlying closes above the strike plus premium at expiration. With ACIU stock trading near $2.81, the strikes shown on this page are snapped to the nearest listed ACIU chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are ACIU long call max profit and max loss calculated?
Max profit is unbounded; max loss equals the premium paid times 100. Breakeven is strike plus premium. For the ACIU long call priced from the end-of-day chain at a 30-day expiry (ATM IV 23.50%), 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 ACIU long call?
The breakeven for the ACIU long call 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 ACIU market-implied 1-standard-deviation expected move is approximately 6.74%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a long call on ACIU?
Long calls on ACIU express a bullish thesis with defined risk; traders use them ahead of ACIU catalysts (earnings, product launches, macro events) when the expected upside justifies the premium and theta decay.
How does current ACIU implied volatility affect this long call?
ACIU ATM IV is at 23.50% with IV rank near 1.16%, 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.

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