ARCT Iron Condor Strategy
ARCT (Arcturus Therapeutics Holdings Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
Arcturus Therapeutics Holdings Inc. is a biotechnology company focused on RNA-based medicines, developing a pipeline of vaccines for infectious diseases alongside treatments for rare liver and respiratory conditions across the United States. Its notable development programs encompass LUNAR-OTC, designed for ornithine transcarbamylase (OTC) deficiency, and LUNAR-CF, targeting cystic fibrosis lung disease caused by specific CFTR gene mutations. The company also advances vaccine initiatives such as LUNAR-COV19 and LUNAR-FLU. Arcturus has cultivated a range of strategic collaborations, including partnerships with Vinbiocare Biotechnology Joint Stock Company for manufacturing COVID-19 vaccines; Janssen Pharmaceuticals, Inc., to create nucleic acid-based therapies for hepatitis B virus; Ultragenyx Pharmaceutical, Inc., for developing mRNA therapeutics aimed at rare disease targets; CureVac AG, to progress mRNA therapeutic and vaccine candidates across various indications; the Singapore Economic Development Board and Duke-NUS Medical School, specifically for the LUNAR-COV19 vaccine; and Millennium Pharmaceuticals, Inc., focused on discovering siRNA medicines for non-alcoholic steatohepatitis (NASH). Founded in 2013, Arcturus Therapeutics maintains its corporate headquarters in San Diego, California.
ARCT (Arcturus Therapeutics Holdings Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $216.0M, a beta of 2.27 versus the broader market, a 52-week range of 5.5-24.17, average daily share volume of 464K, a public-listing history dating back to 2013, approximately 109 full-time employees. These structural characteristics shape how ARCT stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.27 indicates ARCT has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. ARCT pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on ARCT?
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.
ARCT snapshot
As of August 14, 2026, spot at $8.23, ATM IV 79.80%, IV rank 12.63%, expected move 22.88%. The iron condor on ARCT 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 ARCT specifically: ARCT IV at 79.80% is on the cheap side of its 1-year range, which means a premium-selling ARCT iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 22.88% (roughly $1.88 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 ARCT expiries trade a higher absolute premium for lower per-day decay. Position sizing on ARCT should anchor to the underlying notional of $8.23 per share and to the trader's directional view on ARCT stock.
ARCT iron condor setup
The ARCT 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 ARCT at $8.23 on that close, the first option leg uses a $8.64 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ARCT 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 ARCT shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $8.64 | N/A |
| Buy 1 | Call | $9.05 | N/A |
| Sell 1 | Put | $7.82 | N/A |
| Buy 1 | Put | $7.41 | N/A |
ARCT 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.
ARCT iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on ARCT. 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 ARCT
Iron condors on ARCT are a delta-neutral premium-collection structure that profits if ARCT stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
ARCT thesis for this iron condor
The market-implied 1-standard-deviation range for ARCT extends from approximately $6.35 on the downside to $10.11 on the upside. A ARCT iron condor is a delta-neutral premium-collection structure that pays off when ARCT 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 ARCT IV rank near 12.63% 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 ARCT at 79.80%. As a Healthcare name, ARCT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ARCT-specific events.
ARCT 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. ARCT positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ARCT alongside the broader basket even when ARCT-specific fundamentals are unchanged. Short-premium structures like a iron condor on ARCT carry tail risk when realized volatility exceeds the implied move; review historical ARCT earnings reactions and macro stress periods before sizing. Always rebuild the position from current ARCT chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on ARCT?
- A iron condor on ARCT is the iron condor strategy applied to ARCT (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 ARCT stock at $8.23 on the most recent close, the strikes shown on this page are snapped to the nearest listed ARCT chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are ARCT 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 ARCT iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 79.80%), 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 ARCT iron condor?
- The breakeven for the ARCT 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 ARCT market-implied 1-standard-deviation expected move in the same options snapshot is approximately 22.88%; 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 ARCT?
- Iron condors on ARCT are a delta-neutral premium-collection structure that profits if ARCT stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current ARCT implied volatility affect this iron condor?
- ARCT ATM IV is at 79.80% with IV rank near 12.63%, 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.