AORT Iron Condor Strategy
AORT (Artivion, Inc.), in the Healthcare sector, (Medical - Devices industry), listed on NYSE.
Artivion Inc. is a global company that develops, produces, and supplies medical devices and implantable human tissues. Its product range includes BioGlue, a polymer derived from bovine blood protein combined with a cross-linking agent, utilized in cardiac, vascular, neurological, and pulmonary surgical applications. The company also offers heart preservation services and the PhotoFix bovine pericardial patch, in addition to E-vita Open Plus and E-vita Open Neo devices. For the treatment of aortic vascular conditions, Artivion provides specialized stent graft systems. These include E-xtra design engineering systems for aortic vascular diseases, E-nside as an off-the-shelf solution for thoraco-abdominal disease, E-vita THORACIC 3G for endovascular repair of thoracic aortic aneurysms, E-nya for minimally invasive repair of descending aorta lesions, and the E-tegra system for abdominal aortic aneurysms. Furthermore, its offerings address peripheral and renal artery treatments with the E-ventus BX balloon-expandable stent graft and the E-liac system for aneurysmal iliac arteries and their side branches.
AORT (Artivion, Inc.) trades in the Healthcare sector, specifically Medical - Devices, with a market capitalization of approximately $1.41B, a beta of 1.25 versus the broader market, a 52-week range of 19.16-48.25, average daily share volume of 721K, a public-listing history dating back to 1993, approximately 2K full-time employees. These structural characteristics shape how AORT stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.25 places AORT roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. AORT pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on AORT?
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.
AORT snapshot
As of August 14, 2026, spot at $28.87, ATM IV 66.40%, IV rank 13.26%, expected move 19.04%. The iron condor on AORT 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 AORT specifically: AORT IV at 66.40% is on the cheap side of its 1-year range, which means a premium-selling AORT iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 19.04% (roughly $5.50 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 AORT expiries trade a higher absolute premium for lower per-day decay. Position sizing on AORT should anchor to the underlying notional of $28.87 per share and to the trader's directional view on AORT stock.
AORT iron condor setup
The AORT 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 AORT at $28.87 on that close, the first option leg uses a $30.31 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AORT 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 AORT shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $30.31 | N/A |
| Buy 1 | Call | $31.76 | N/A |
| Sell 1 | Put | $27.43 | N/A |
| Buy 1 | Put | $25.98 | N/A |
AORT 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.
AORT iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on AORT. 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 AORT
Iron condors on AORT are a delta-neutral premium-collection structure that profits if AORT stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
AORT thesis for this iron condor
The market-implied 1-standard-deviation range for AORT extends from approximately $23.37 on the downside to $34.37 on the upside. A AORT iron condor is a delta-neutral premium-collection structure that pays off when AORT 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 AORT IV rank near 13.26% 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 AORT at 66.40%. As a Healthcare name, AORT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AORT-specific events.
AORT 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. AORT positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move AORT alongside the broader basket even when AORT-specific fundamentals are unchanged. Short-premium structures like a iron condor on AORT carry tail risk when realized volatility exceeds the implied move; review historical AORT earnings reactions and macro stress periods before sizing. Always rebuild the position from current AORT chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on AORT?
- A iron condor on AORT is the iron condor strategy applied to AORT (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 AORT stock at $28.87 on the most recent close, the strikes shown on this page are snapped to the nearest listed AORT chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are AORT 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 AORT iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 66.40%), 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 AORT iron condor?
- The breakeven for the AORT 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 AORT market-implied 1-standard-deviation expected move in the same options snapshot is approximately 19.04%; 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 AORT?
- Iron condors on AORT are a delta-neutral premium-collection structure that profits if AORT stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current AORT implied volatility affect this iron condor?
- AORT ATM IV is at 66.40% with IV rank near 13.26%, 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.