CATX Iron Condor Strategy
CATX (Perspective Therapeutics, Inc.), in the Healthcare sector, (Medical - Devices industry), listed on AMEX.
Perspective Therapeutics, Inc., including its various operations, specializes in the comprehensive lifecycle – from development and manufacturing to sales and marketing – of radiopharmaceutical products and medical devices. These advanced solutions are designed to treat cancer and other serious malignant conditions, serving markets both within the United States and globally. A flagship product offered by the company is its CS-1 Cesium-131 brachytherapy seeds. This treatment is specifically utilized for a broad range of cancers, such as those impacting the prostate, brain, lung, head and neck regions, gynecological system, pelvic/abdominal areas, and colorectal tissues. The company distributes its products to medical facilities and physician practices equipped with surgical capabilities. The entity originally operated under the name Isoray, Inc., before officially adopting the name Perspective Therapeutics, Inc. in February 2022.
CATX (Perspective Therapeutics, Inc.) trades in the Healthcare sector, specifically Medical - Devices, with a market capitalization of approximately $364.9M, a beta of 1.78 versus the broader market, a 52-week range of 1.96-6.16, average daily share volume of 1.6M, a public-listing history dating back to 2005, approximately 165 full-time employees. These structural characteristics shape how CATX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.78 indicates CATX has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.
What is a iron condor on CATX?
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.
CATX snapshot
As of August 14, 2026, spot at $3.21, ATM IV 359.90%, IV rank 85.14%, expected move 103.18%. The iron condor on CATX 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 CATX specifically: CATX IV at 359.90% is rich versus its 1-year range, which favors premium-selling structures like a CATX iron condor, with a market-implied 1-standard-deviation move of approximately 103.18% (roughly $3.31 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 CATX expiries trade a higher absolute premium for lower per-day decay. Position sizing on CATX should anchor to the underlying notional of $3.21 per share and to the trader's directional view on CATX stock.
CATX iron condor setup
The CATX 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 CATX at $3.21 on that close, the first option leg uses a $3.37 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CATX 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 CATX shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $3.37 | N/A |
| Buy 1 | Call | $3.53 | N/A |
| Sell 1 | Put | $3.05 | N/A |
| Buy 1 | Put | $2.89 | N/A |
CATX 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.
CATX iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on CATX. 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 CATX
Iron condors on CATX are a delta-neutral premium-collection structure that profits if CATX stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
CATX thesis for this iron condor
The market-implied 1-standard-deviation range for CATX extends from approximately $-0.10 on the downside to $6.52 on the upside. A CATX iron condor is a delta-neutral premium-collection structure that pays off when CATX 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 CATX IV rank near 85.14% sits in the upper third of its 1-year distribution, which historically reverts; this raises the bar for premium-buying structures and lowers it for premium-selling structures on CATX at 359.90%. As a Healthcare name, CATX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CATX-specific events.
CATX 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. CATX positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CATX alongside the broader basket even when CATX-specific fundamentals are unchanged. Short-premium structures like a iron condor on CATX carry tail risk when realized volatility exceeds the implied move; review historical CATX earnings reactions and macro stress periods before sizing. Always rebuild the position from current CATX chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on CATX?
- A iron condor on CATX is the iron condor strategy applied to CATX (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 CATX stock at $3.21 on the most recent close, the strikes shown on this page are snapped to the nearest listed CATX chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are CATX 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 CATX iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 359.90%), 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 CATX iron condor?
- The breakeven for the CATX 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 CATX market-implied 1-standard-deviation expected move in the same options snapshot is approximately 103.18%; 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 CATX?
- Iron condors on CATX are a delta-neutral premium-collection structure that profits if CATX stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current CATX implied volatility affect this iron condor?
- CATX ATM IV is at 359.90% with IV rank near 85.14%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.