BYSI Iron Condor Strategy
BYSI (BeyondSpring Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
BeyondSpring Inc. is a clinical-stage biopharmaceutical company focused on developing novel cancer treatments. Its flagship product is Plinabulin, a selective immune-modulating and microtubule-binding agent. Plinabulin has successfully advanced through Phase III clinical trials for two distinct applications: the prevention of chemotherapy-induced neutropenia, and the treatment of advanced non-small cell lung cancer. The company is also exploring Plinabulin's efficacy in combination with various immuno-oncology drugs; specifically, alongside nivolumab (a PD-1 antibody) for NSCLC, and with nivolumab and ipilimumab (a CTLA-4 antibody) for small cell lung cancer (SCLC). Furthermore, it is being investigated in conjunction with PD-1 or PD-L1 antibodies and radiation to address a range of cancers. Beyond its lead asset, BeyondSpring's pipeline includes three preclinical-stage small molecule immune agents and a proprietary drug development platform.
BYSI (BeyondSpring Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $34.5M, a beta of 0.43 versus the broader market, a 52-week range of 0.73-2.44, average daily share volume of 24K, a public-listing history dating back to 2017, approximately 44 full-time employees. These structural characteristics shape how BYSI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.43 indicates BYSI 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 iron condor on BYSI?
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.
BYSI snapshot
As of August 14, 2026, spot at $0.84, ATM IV 23.50%, IV rank 2.66%, expected move 6.74%. The iron condor on BYSI 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 BYSI specifically: BYSI IV at 23.50% is on the cheap side of its 1-year range, which means a premium-selling BYSI iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 6.74% (roughly $0.06 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 BYSI expiries trade a higher absolute premium for lower per-day decay. Position sizing on BYSI should anchor to the underlying notional of $0.84 per share and to the trader's directional view on BYSI stock.
BYSI iron condor setup
The BYSI 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 BYSI at $0.84 on that close, the first option leg uses a $0.88 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed BYSI 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 BYSI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $0.88 | N/A |
| Buy 1 | Call | $0.92 | N/A |
| Sell 1 | Put | $0.80 | N/A |
| Buy 1 | Put | $0.76 | N/A |
BYSI 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.
BYSI iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on BYSI. 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 BYSI
Iron condors on BYSI are a delta-neutral premium-collection structure that profits if BYSI stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
BYSI thesis for this iron condor
The market-implied 1-standard-deviation range for BYSI extends from approximately $0.78 on the downside to $0.90 on the upside. A BYSI iron condor is a delta-neutral premium-collection structure that pays off when BYSI 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 BYSI IV rank near 2.66% 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 BYSI at 23.50%. As a Healthcare name, BYSI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to BYSI-specific events.
BYSI 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. BYSI positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move BYSI alongside the broader basket even when BYSI-specific fundamentals are unchanged. Short-premium structures like a iron condor on BYSI carry tail risk when realized volatility exceeds the implied move; review historical BYSI earnings reactions and macro stress periods before sizing. Always rebuild the position from current BYSI chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on BYSI?
- A iron condor on BYSI is the iron condor strategy applied to BYSI (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 BYSI stock at $0.84 on the most recent close, the strikes shown on this page are snapped to the nearest listed BYSI chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are BYSI 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 BYSI iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 23.50%), 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 BYSI iron condor?
- The breakeven for the BYSI 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 BYSI market-implied 1-standard-deviation expected move in the same options snapshot is approximately 6.74%; 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 BYSI?
- Iron condors on BYSI are a delta-neutral premium-collection structure that profits if BYSI stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current BYSI implied volatility affect this iron condor?
- BYSI ATM IV is at 23.50% with IV rank near 2.66%, 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.