ANGO Iron Condor Strategy
ANGO (AngioDynamics, Inc.), in the Healthcare sector, (Medical - Instruments & Supplies industry), listed on NASDAQ.
AngioDynamics, Inc. specializes in the development, manufacturing, and commercialization of a diverse array of medical, surgical, and diagnostic instruments. These products are utilized by healthcare professionals to address conditions such as peripheral vascular disease, facilitate vascular access, and support various oncology and surgical interventions, serving both domestic and international markets. The company's portfolio includes advanced ablation systems like NanoKnife, designed for the precise surgical removal of soft tissues, and Solero microwave and radiofrequency systems, effective in ablating solid cancerous or benign growths. Additionally, they provide BioSentry tract sealant systems, IsoLoc Endorectal Balloons, Alatus vaginal balloon packing systems, angiographic catheters, guidewires, percutaneous drainage catheters, and coaxial micro-introducer kits. Their endovascular therapies segment encompasses solutions for thrombus management, atherectomy procedures, core peripheral products, and the treatment of venous insufficiency. Furthermore, AngioDynamics is a key supplier of vascular access devices, such as peripherally inserted central catheters (PICCs), midline catheters, implantable ports, and dialysis catheters, along with associated accessories.
ANGO (AngioDynamics, Inc.) trades in the Healthcare sector, specifically Medical - Instruments & Supplies, with a market capitalization of approximately $651.0M, a beta of 0.32 versus the broader market, a 52-week range of 8.65-16.11, average daily share volume of 440K, a public-listing history dating back to 2004, approximately 632 full-time employees. These structural characteristics shape how ANGO stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.32 indicates ANGO has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure.
What is a iron condor on ANGO?
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.
ANGO snapshot
As of August 14, 2026, spot at $15.87, ATM IV 65.20%, IV rank 11.15%, expected move 18.69%. The iron condor on ANGO below is built from the end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.
Why this iron condor structure on ANGO specifically: ANGO IV at 65.20% is on the cheap side of its 1-year range, which means a premium-selling ANGO iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 18.69% (roughly $2.97 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated ANGO expiries trade a higher absolute premium for lower per-day decay. Position sizing on ANGO should anchor to the underlying notional of $15.87 per share and to the trader's directional view on ANGO stock.
ANGO iron condor setup
The ANGO 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 ANGO at $15.87 on that close, the first option leg uses a $16.66 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ANGO chain at a 35-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 ANGO shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $16.66 | N/A |
| Buy 1 | Call | $17.46 | N/A |
| Sell 1 | Put | $15.08 | N/A |
| Buy 1 | Put | $14.28 | N/A |
ANGO 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.
ANGO iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on ANGO. 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 ANGO
Iron condors on ANGO are a delta-neutral premium-collection structure that profits if ANGO stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
ANGO thesis for this iron condor
The market-implied 1-standard-deviation range for ANGO extends from approximately $12.90 on the downside to $18.84 on the upside. A ANGO iron condor is a delta-neutral premium-collection structure that pays off when ANGO 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 ANGO IV rank near 11.15% 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 ANGO at 65.20%. As a Healthcare name, ANGO options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ANGO-specific events.
ANGO 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. ANGO positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ANGO alongside the broader basket even when ANGO-specific fundamentals are unchanged. Short-premium structures like a iron condor on ANGO carry tail risk when realized volatility exceeds the implied move; review historical ANGO earnings reactions and macro stress periods before sizing. Always rebuild the position from current ANGO chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on ANGO?
- A iron condor on ANGO is the iron condor strategy applied to ANGO (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 ANGO stock at $15.87 on the most recent close, the strikes shown on this page are snapped to the nearest listed ANGO chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are ANGO 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 ANGO iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 65.20%), 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 ANGO iron condor?
- The breakeven for the ANGO iron condor priced on this page is no defined breakeven on the modeled curve at expiration, derived from the end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The ANGO market-implied 1-standard-deviation expected move in the same options snapshot is approximately 18.69%; 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 ANGO?
- Iron condors on ANGO are a delta-neutral premium-collection structure that profits if ANGO stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current ANGO implied volatility affect this iron condor?
- ANGO ATM IV is at 65.20% with IV rank near 11.15%, 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.