AUPH Long Call Strategy
AUPH (Aurinia Pharmaceuticals Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
Aurinia Pharmaceuticals Inc., a commercial-stage biopharmaceutical company, focuses on developing and commercializing therapies to treat various diseases with unmet medical need in the United States and internationally. The company offers LUPKYNIS for the treatment of adult patients with active lupus nephritis. It has a collaboration and license agreement with Otsuka Pharmaceutical Co., Ltd. The company is headquartered in Victoria, Canada.
AUPH (Aurinia Pharmaceuticals Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $2.06B, a trailing P/E of 7.12, a beta of 1.45 versus the broader market, a 52-week range of 7.285-16.88, average daily share volume of 1.2M, a public-listing history dating back to 2014, approximately 130 full-time employees. These structural characteristics shape how AUPH stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.45 indicates AUPH has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. The trailing P/E of 7.12 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 long call on AUPH?
A long call buys upside exposure with a fixed maximum loss equal to the premium paid; profit accrues if the underlying closes above the strike plus premium at expiration.
Current AUPH snapshot
As of May 15, 2026, spot at $15.28, ATM IV 43.80%, IV rank 14.38%, expected move 12.56%. The long call on AUPH 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 63-day expiry.
Why this long call structure on AUPH specifically: AUPH IV at 43.80% is on the cheap side of its 1-year range, which favors premium-buying structures like a AUPH long call, with a market-implied 1-standard-deviation move of approximately 12.56% (roughly $1.92 on the underlying). The 63-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated AUPH expiries trade a higher absolute premium for lower per-day decay. Position sizing on AUPH should anchor to the underlying notional of $15.28 per share and to the trader's directional view on AUPH stock.
AUPH long call setup
The AUPH long 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 AUPH near $15.28, the first option leg uses a $15.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AUPH chain at a 63-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 AUPH shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $15.00 | $1.28 |
AUPH long call risk and reward
- Net Premium / Debit
- -$127.50
- Max Profit (per contract)
- Unbounded
- Max Loss (per contract)
- -$127.50
- Breakeven(s)
- $16.28
- Risk / Reward Ratio
- Unbounded
Max profit is unbounded; max loss equals the premium paid times 100. Breakeven is strike plus premium.
AUPH long call payoff curve
Modeled P&L at expiration across a range of underlying prices for the long call on AUPH. 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.
| Underlying Price | % From Spot | P&L at Expiration |
|---|---|---|
| $0.01 | -99.9% | -$127.50 |
| $3.39 | -77.8% | -$127.50 |
| $6.76 | -55.7% | -$127.50 |
| $10.14 | -33.6% | -$127.50 |
| $13.52 | -11.5% | -$127.50 |
| $16.90 | +10.6% | +$62.19 |
| $20.27 | +32.7% | +$399.93 |
| $23.65 | +54.8% | +$737.67 |
| $27.03 | +76.9% | +$1,075.41 |
| $30.41 | +99.0% | +$1,413.15 |
When traders use long call on AUPH
Long calls on AUPH express a bullish thesis with defined risk; traders use them ahead of AUPH catalysts (earnings, product launches, macro events) when the expected upside justifies the premium and theta decay.
AUPH thesis for this long call
The market-implied 1-standard-deviation range for AUPH extends from approximately $13.36 on the downside to $17.20 on the upside. A AUPH long call expresses a directional view that the underlying closes above the strike plus premium at expiration, ideally with implied volatility holding or expanding to preserve extrinsic value through the hold period. Current AUPH IV rank near 14.38% 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 AUPH at 43.80%. As a Healthcare name, AUPH options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AUPH-specific events.
AUPH long call positions are structurally 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. AUPH positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move AUPH alongside the broader basket even when AUPH-specific fundamentals are unchanged. Long-premium structures like a long call on AUPH are particularly exposed to IV-crush risk through scheduled events (earnings, FDA decisions, central-bank meetings) where IV typically contracts post-event regardless of the directional outcome. Always rebuild the position from current AUPH chain quotes before placing a trade.
Frequently asked questions
- What is a long call on AUPH?
- A long call on AUPH is the long call strategy applied to AUPH (stock). The strategy is structurally bullish: A long call buys upside exposure with a fixed maximum loss equal to the premium paid; profit accrues if the underlying closes above the strike plus premium at expiration. With AUPH stock trading near $15.28, the strikes shown on this page are snapped to the nearest listed AUPH chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are AUPH long call max profit and max loss calculated?
- Max profit is unbounded; max loss equals the premium paid times 100. Breakeven is strike plus premium. For the AUPH long call priced from the end-of-day chain at a 30-day expiry (ATM IV 43.80%), the computed maximum profit is unbounded per contract and the computed maximum loss is -$127.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a AUPH long call?
- The breakeven for the AUPH long call priced on this page is roughly $16.28 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 AUPH market-implied 1-standard-deviation expected move is approximately 12.56%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a long call on AUPH?
- Long calls on AUPH express a bullish thesis with defined risk; traders use them ahead of AUPH catalysts (earnings, product launches, macro events) when the expected upside justifies the premium and theta decay.
- How does current AUPH implied volatility affect this long call?
- AUPH ATM IV is at 43.80% with IV rank near 14.38%, 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.