ARDT Iron Condor Strategy
ARDT (Ardent Health Partners, LLC), in the Healthcare sector, (Medical - Care Facilities industry), listed on NYSE.
Ardent Health Partners, LLC owns and operates a network of hospitals and clinics that provides a range of healthcare services in the United States. It operates acute care hospitals, including rehabilitation hospitals and surgical hospitals. The company was founded in 2001 and is based in Brentwood, Tennessee. Ardent Health Partners, LLC is a subsidiary of EGI-AM Investments, L.L.C.
ARDT (Ardent Health Partners, LLC) trades in the Healthcare sector, specifically Medical - Care Facilities, with a market capitalization of approximately $1.42B, a trailing P/E of 10.43, a beta of 0.93 versus the broader market, a 52-week range of 8.07-15.48, average daily share volume of 400K, a public-listing history dating back to 2024, approximately 19K full-time employees. These structural characteristics shape how ARDT stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.93 places ARDT roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 10.43 is on the value side, where IV often compresses outside event windows because forward growth expectations are already discounted into the share price.
What is a iron condor on ARDT?
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 ARDT snapshot
As of May 15, 2026, spot at $10.18, ATM IV 52.70%, IV rank 6.73%, expected move 15.11%. The iron condor on ARDT 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 iron condor structure on ARDT specifically: ARDT IV at 52.70% is on the cheap side of its 1-year range, which means a premium-selling ARDT iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 15.11% (roughly $1.54 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 ARDT expiries trade a higher absolute premium for lower per-day decay. Position sizing on ARDT should anchor to the underlying notional of $10.18 per share and to the trader's directional view on ARDT stock.
ARDT iron condor setup
The ARDT 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 ARDT near $10.18, the first option leg uses a $10.69 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ARDT 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 ARDT shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $10.69 | N/A |
| Buy 1 | Call | $11.20 | N/A |
| Sell 1 | Put | $9.67 | N/A |
| Buy 1 | Put | $9.16 | N/A |
ARDT 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.
ARDT iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on ARDT. 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 ARDT
Iron condors on ARDT are a delta-neutral premium-collection structure that profits if ARDT stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
ARDT thesis for this iron condor
The market-implied 1-standard-deviation range for ARDT extends from approximately $8.64 on the downside to $11.72 on the upside. A ARDT iron condor is a delta-neutral premium-collection structure that pays off when ARDT 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 ARDT IV rank near 6.73% 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 ARDT at 52.70%. As a Healthcare name, ARDT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ARDT-specific events.
ARDT 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. ARDT positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ARDT alongside the broader basket even when ARDT-specific fundamentals are unchanged. Short-premium structures like a iron condor on ARDT carry tail risk when realized volatility exceeds the implied move; review historical ARDT earnings reactions and macro stress periods before sizing. Always rebuild the position from current ARDT chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on ARDT?
- A iron condor on ARDT is the iron condor strategy applied to ARDT (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 ARDT stock trading near $10.18, the strikes shown on this page are snapped to the nearest listed ARDT chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are ARDT 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 ARDT iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 52.70%), 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 ARDT iron condor?
- The breakeven for the ARDT iron condor 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 ARDT market-implied 1-standard-deviation expected move is approximately 15.11%; 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 ARDT?
- Iron condors on ARDT are a delta-neutral premium-collection structure that profits if ARDT stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current ARDT implied volatility affect this iron condor?
- ARDT ATM IV is at 52.70% with IV rank near 6.73%, 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.