How are CELC 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 CELC iron condor priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 64.20%), the computed maximum profit is $397.50 per contract and the computed maximum loss is -$102.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a CELC iron condor?

The breakeven for the CELC iron condor priced on this page is roughly $86.03 and $98.98 at expiration, derived from the August 14, 2026 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 CELC market-implied 1-standard-deviation expected move in the same options snapshot is approximately 18.41%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current CELC implied volatility affect this iron condor?

CELC ATM IV is at 64.20% with IV rank near 14.91%, 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.

CELC Iron Condor Strategy

CELC (Celcuity Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.

Celcuity, Inc. operates as a cellular analysis company. The company discovers new cancer sub-types and commercializing diagnostic tests designed to improve the clinical outcomes of cancer patients treated with targeted therapies. The firm's proprietary CELx diagnostic platform is the commercially ready technology that uses a patient's living tumor cells to identify the specific abnormal cellular process driving a patient's cancer and the targeted therapy that treats it. The company was founded by Brian F. Sullivan and Lance G. Laing in January 2012 and is headquartered in Minneapolis, MN.

CELC (Celcuity Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $4.49B, a beta of 0.16 versus the broader market, a 52-week range of 44.42-151.02, average daily share volume of 1.4M, a public-listing history dating back to 2017, approximately 155 full-time employees. These structural characteristics shape how CELC stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.16 indicates CELC 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 CELC?

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.

CELC snapshot

As of August 14, 2026, spot at $92.11, ATM IV 64.20%, IV rank 14.91%, expected move 18.41%. The iron condor on CELC below is built from the August 14, 2026 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 CELC specifically: CELC IV at 64.20% is on the cheap side of its 1-year range, which means a premium-selling CELC iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 18.41% (roughly $16.95 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 CELC expiries trade a higher absolute premium for lower per-day decay. Position sizing on CELC should anchor to the underlying notional of $92.11 per share and to the trader's directional view on CELC stock.

CELC iron condor setup

The CELC iron condor below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With CELC at $92.11 on that close, the first option leg uses a $95.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CELC 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 CELC shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Call	$95.00	$6.50
Buy 1	Call	$100.00	$4.05
Sell 1	Put	$90.00	$5.65
Buy 1	Put	$85.00	$4.13

CELC iron condor risk and reward

Net Premium / Debit: +$397.50
Max Profit (per contract): $397.50
Max Loss (per contract): -$102.50
Breakeven(s): $86.03, $98.98
Risk / Reward Ratio: 3.878

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.

CELC iron condor payoff curve

Modeled P&L at expiration across a range of underlying prices for the iron condor on CELC. 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.

P&L at expiration across the modeled underlying-price range. Green shading marks profitable regions, red shading marks loss regions. Dotted purple verticals mark breakevens; the solid dark vertical marks current spot.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-100.0%	-$102.50
$20.37	-77.9%	-$102.50
$40.74	-55.8%	-$102.50
$61.10	-33.7%	-$102.50
$81.47	-11.6%	-$102.50
$101.83	+10.6%	-$102.50
$122.20	+32.7%	-$102.50
$142.56	+54.8%	-$102.50
$162.93	+76.9%	-$102.50
$183.29	+99.0%	-$102.50

When traders use iron condor on CELC

Iron condors on CELC are a delta-neutral premium-collection structure that profits if CELC stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.

CELC thesis for this iron condor

The market-implied 1-standard-deviation range for CELC extends from approximately $75.16 on the downside to $109.06 on the upside. A CELC iron condor is a delta-neutral premium-collection structure that pays off when CELC 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 CELC IV rank near 14.91% 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 CELC at 64.20%. As a Healthcare name, CELC options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CELC-specific events.

CELC 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. CELC positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CELC alongside the broader basket even when CELC-specific fundamentals are unchanged. Short-premium structures like a iron condor on CELC carry tail risk when realized volatility exceeds the implied move; review historical CELC earnings reactions and macro stress periods before sizing. Always rebuild the position from current CELC chain quotes before placing a trade.

Frequently asked questions

What is a iron condor on CELC?: A iron condor on CELC is the iron condor strategy applied to CELC (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 CELC stock at $92.11 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed CELC chain strike and the premiums come straight from that session's bid/ask midpoint.
How are CELC 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 CELC iron condor priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 64.20%), the computed maximum profit is $397.50 per contract and the computed maximum loss is -$102.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a CELC iron condor?: The breakeven for the CELC iron condor priced on this page is roughly $86.03 and $98.98 at expiration, derived from the August 14, 2026 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 CELC market-implied 1-standard-deviation expected move in the same options snapshot is approximately 18.41%; 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 CELC?: Iron condors on CELC are a delta-neutral premium-collection structure that profits if CELC stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
How does current CELC implied volatility affect this iron condor?: CELC ATM IV is at 64.20% with IV rank near 14.91%, 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.