ASMB Iron Condor Strategy
ASMB (Assembly Biosciences, Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
Assembly Biosciences, Inc., a clinical-stage biotechnology company, discovers and develops therapeutic candidates for the treatment of hepatitis B virus (HBV) infection in the United States. The company's lead product candidate is Vebicorvir, which as completed Phase 2 clinical trials to treat patients with chronic HBV infection. It is also developing ABI-H3733 that has completed Phase 1a clinical study, and ABI-4334, which is in pre-clinical trials for the treatment of HBV. The company has collaboration agreements with BeiGene, Ltd. and Arbutus Biopharma Corporation; and Antios Therapeutics, Inc. to evaluate a triple combination treatment in patients with chronic hepatitis B virus infection. It also has strategic license agreements with Indiana University Research and Technology Corporation; and Door Pharmaceuticals, LLC. The company was formerly known as Ventrus Biosciences, Inc. and changed its name to Assembly Biosciences, Inc. in June 2014.
ASMB (Assembly Biosciences, Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $504.1M, a beta of 1.09 versus the broader market, a 52-week range of 12.19-39.71, average daily share volume of 109K, a public-listing history dating back to 2010, approximately 73 full-time employees. These structural characteristics shape how ASMB stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.09 places ASMB roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.
What is a iron condor on ASMB?
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 ASMB snapshot
As of May 15, 2026, spot at $28.84, ATM IV 73.20%, IV rank 14.87%, expected move 20.99%. The iron condor on ASMB 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 ASMB specifically: ASMB IV at 73.20% is on the cheap side of its 1-year range, which means a premium-selling ASMB iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 20.99% (roughly $6.05 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 ASMB expiries trade a higher absolute premium for lower per-day decay. Position sizing on ASMB should anchor to the underlying notional of $28.84 per share and to the trader's directional view on ASMB stock.
ASMB iron condor setup
The ASMB 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 ASMB near $28.84, the first option leg uses a $30.28 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ASMB 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 ASMB shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $30.28 | N/A |
| Buy 1 | Call | $31.72 | N/A |
| Sell 1 | Put | $27.40 | N/A |
| Buy 1 | Put | $25.96 | N/A |
ASMB 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.
ASMB iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on ASMB. 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 ASMB
Iron condors on ASMB are a delta-neutral premium-collection structure that profits if ASMB stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
ASMB thesis for this iron condor
The market-implied 1-standard-deviation range for ASMB extends from approximately $22.79 on the downside to $34.89 on the upside. A ASMB iron condor is a delta-neutral premium-collection structure that pays off when ASMB 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 ASMB IV rank near 14.87% 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 ASMB at 73.20%. As a Healthcare name, ASMB options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ASMB-specific events.
ASMB 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. ASMB positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ASMB alongside the broader basket even when ASMB-specific fundamentals are unchanged. Short-premium structures like a iron condor on ASMB carry tail risk when realized volatility exceeds the implied move; review historical ASMB earnings reactions and macro stress periods before sizing. Always rebuild the position from current ASMB chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on ASMB?
- A iron condor on ASMB is the iron condor strategy applied to ASMB (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 ASMB stock trading near $28.84, the strikes shown on this page are snapped to the nearest listed ASMB chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are ASMB 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 ASMB iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 73.20%), 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 ASMB iron condor?
- The breakeven for the ASMB 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 ASMB market-implied 1-standard-deviation expected move is approximately 20.99%; 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 ASMB?
- Iron condors on ASMB are a delta-neutral premium-collection structure that profits if ASMB stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current ASMB implied volatility affect this iron condor?
- ASMB ATM IV is at 73.20% with IV rank near 14.87%, 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.