ATNM Covered Call Strategy
ATNM (Actinium Pharmaceuticals, Inc.), in the Healthcare sector, (Biotechnology industry), listed on AMEX.
Actinium Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, focuses on developing and commercializing therapies for bone marrow transplant (BMT) or a type of cellular therapy, and for other adoptive cell therapies. Its lead product candidate, I-131 apamistamab (Iomab-B) that is in a pivotal Phase III clinical trial for elderly relapsed or refractory acute myeloid leukemia trial for BMT conditioning; and a Phase I study with a CD19- targeted CAR T-cell therapy with memorial sloan kettering cancer center. The company also offers clinical and preclinical development programs that utilize multiple isotopes, including Actinium-225, Iodine-131, and Lutetium-177 directed at multiple validated cancer targets, including CD45, CD33, CD38, CD47, HER2, and HER3 for targeted conditioning prior to cell and gene therapies, such as bone marrow transplant and cancer therapeutics as single agents or in combination with other therapeutic modalities. It has collaboration with Astellas Pharma, Inc. to develop theranostics for solid tumor indications; EpicentRx, Inc that focuses on a novel CD47 immunotherapy targeted radiotherapy; and AVEO Oncology that focuses on developing a HER3 targeting ARC for solid tumors. The company was incorporated in 2000 and is based in New York, New York.
ATNM (Actinium Pharmaceuticals, Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $40.5M, a beta of -0.11 versus the broader market, a 52-week range of 0.952-1.945, average daily share volume of 182K, a public-listing history dating back to 2012, approximately 31 full-time employees. These structural characteristics shape how ATNM stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of -0.11 indicates ATNM 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 covered call on ATNM?
A covered call pairs long stock with a short out-of-the-money call, collecting premium and capping upside above the short strike in exchange for income.
Current ATNM snapshot
As of May 15, 2026, spot at $1.25, ATM IV 33.50%, IV rank 2.75%, expected move 9.60%. The covered call on ATNM 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 covered call structure on ATNM specifically: ATNM IV at 33.50% is on the cheap side of its 1-year range, which means a premium-selling ATNM covered call collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 9.60% (roughly $0.12 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 ATNM expiries trade a higher absolute premium for lower per-day decay. Position sizing on ATNM should anchor to the underlying notional of $1.25 per share and to the trader's directional view on ATNM stock.
ATNM covered call setup
The ATNM covered call below is built from the end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With ATNM near $1.25, the first option leg uses a $1.31 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ATNM 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 ATNM shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $1.25 | long |
| Sell 1 | Call | $1.31 | N/A |
ATNM covered call 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 short-strike minus cost basis plus premium times 100; max loss is cost basis minus premium (at zero). Breakeven is cost basis minus premium.
ATNM covered call payoff curve
Modeled P&L at expiration across a range of underlying prices for the covered call on ATNM. 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 covered call on ATNM
Covered calls on ATNM are an income strategy run on existing ATNM stock positions; traders typically sell calls at 25-35 delta with 30-45 days to expiration to balance premium against upside cap.
ATNM thesis for this covered call
The market-implied 1-standard-deviation range for ATNM extends from approximately $1.13 on the downside to $1.37 on the upside. A ATNM covered call collects premium on an existing long ATNM position, trading off upside above the short call strike for immediate income; the short strike selection should reflect the trader's view on whether ATNM will breach that level within the expiration window. Current ATNM IV rank near 2.75% 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 ATNM at 33.50%. As a Healthcare name, ATNM options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ATNM-specific events.
ATNM covered call positions are structurally neutral to slightly bullish; 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. ATNM positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ATNM alongside the broader basket even when ATNM-specific fundamentals are unchanged. Short-premium structures like a covered call on ATNM carry tail risk when realized volatility exceeds the implied move; review historical ATNM earnings reactions and macro stress periods before sizing. Always rebuild the position from current ATNM chain quotes before placing a trade.
Frequently asked questions
- What is a covered call on ATNM?
- A covered call on ATNM is the covered call strategy applied to ATNM (stock). The strategy is structurally neutral to slightly bullish: A covered call pairs long stock with a short out-of-the-money call, collecting premium and capping upside above the short strike in exchange for income. With ATNM stock trading near $1.25, the strikes shown on this page are snapped to the nearest listed ATNM chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are ATNM covered call max profit and max loss calculated?
- Max profit equals short-strike minus cost basis plus premium times 100; max loss is cost basis minus premium (at zero). Breakeven is cost basis minus premium. For the ATNM covered call priced from the end-of-day chain at a 30-day expiry (ATM IV 33.50%), 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 ATNM covered call?
- The breakeven for the ATNM covered call 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 ATNM market-implied 1-standard-deviation expected move is approximately 9.60%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a covered call on ATNM?
- Covered calls on ATNM are an income strategy run on existing ATNM stock positions; traders typically sell calls at 25-35 delta with 30-45 days to expiration to balance premium against upside cap.
- How does current ATNM implied volatility affect this covered call?
- ATNM ATM IV is at 33.50% with IV rank near 2.75%, 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.