CELU Straddle Strategy

CELU (Celularity Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.

Celularity Inc., a clinical-stage biotechnology company, develops off-the-shelf placental-derived allogeneic cell therapies for the treatment of cancer, immune, and infectious diseases. It operates through three segments: Cell Therapy, Degenerative Disease, and BioBanking. The company's lead therapeutic programs include CYCART-19, a placental-derived CAR-T therapy, which is in Phase I clinical trial for the treatment of B-cell malignancies; CYNK-001, placental-derived unmodified natural killer (NK) cell that is in Phase I clinical trial to treat acute myeloid leukemia, as well as in Phase I/IIa clinical trial for the treatment of glioblastoma multiforme and COVID-19; CYNK-101, an allogeneic genetically modified NK cell, which is in Phase I clinical trial to treat HER2+ gastric and gastroesophageal cancers; APPL-001, a placenta-derived mesenchymal-like adherent stromal cell that is in a pre-clinical stage for the treatment of Crohn's disease; and PDA-002, a placenta-derived mesenchymal-like adherent stromal cell, which is in pre-clinical stage for the treatment of facioscapulohumeral muscular dystrophy. It also sells and licenses products that are used in surgical and wound care markets, such as Biovance and Interfyl; collects stem cells from umbilical cords and placentas; and provides cells storage under the LifebankUSA brand. The company was incorporated in 2016 and is headquartered in Florham Park, New Jersey.

CELU (Celularity Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $18.9M, a beta of 0.45 versus the broader market, a 52-week range of 0.71-4.35, average daily share volume of 198K, a public-listing history dating back to 2019, approximately 120 full-time employees. These structural characteristics shape how CELU stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.45 indicates CELU 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 straddle on CELU?

A long straddle buys an ATM call and an ATM put at the same strike, profiting from a large move in either direction; max loss equals the combined debit when the underlying pins to the strike at expiration.

Current CELU snapshot

As of May 15, 2026, spot at $0.79, ATM IV 33.10%, IV rank 3.25%, expected move 9.49%. The straddle on CELU 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 straddle structure on CELU specifically: CELU IV at 33.10% is on the cheap side of its 1-year range, which favors premium-buying structures like a CELU straddle, with a market-implied 1-standard-deviation move of approximately 9.49% (roughly $0.07 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 CELU expiries trade a higher absolute premium for lower per-day decay. Position sizing on CELU should anchor to the underlying notional of $0.79 per share and to the trader's directional view on CELU stock.

CELU straddle setup

The CELU straddle below is built from the end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With CELU near $0.79, the first option leg uses a $0.79 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CELU 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 CELU shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$0.79	N/A
Buy 1	Put	$0.79	N/A

CELU straddle 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

Upside max profit is unbounded; downside max profit is bounded at the strike minus the combined call plus put debit (reached at zero). Max loss equals the combined debit times 100 (reached when the underlying pins to the strike). Two breakevens at strike plus debit and strike minus debit.

CELU straddle payoff curve

Modeled P&L at expiration across a range of underlying prices for the straddle on CELU. 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 straddle on CELU

Straddles on CELU are pure-volatility plays that profit from large moves in either direction; traders typically buy CELU straddles ahead of earnings, FDA decisions, or other catalysts where the realized move is expected to exceed the implied move priced into the chain.

CELU thesis for this straddle

The market-implied 1-standard-deviation range for CELU extends from approximately $0.72 on the downside to $0.86 on the upside. A CELU long straddle is a pure-volatility play: it profits when the underlying moves far enough from the strike in either direction to overcome the combined call plus put debit, regardless of direction. Current CELU IV rank near 3.25% 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 CELU at 33.10%. As a Healthcare name, CELU options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CELU-specific events.

CELU straddle positions are structurally neutral / high-volatility (long premium); 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. CELU positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CELU alongside the broader basket even when CELU-specific fundamentals are unchanged. Always rebuild the position from current CELU chain quotes before placing a trade.

Frequently asked questions

What is a straddle on CELU?: A straddle on CELU is the straddle strategy applied to CELU (stock). The strategy is structurally neutral / high-volatility (long premium): A long straddle buys an ATM call and an ATM put at the same strike, profiting from a large move in either direction; max loss equals the combined debit when the underlying pins to the strike at expiration. With CELU stock trading near $0.79, the strikes shown on this page are snapped to the nearest listed CELU chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are CELU straddle max profit and max loss calculated?: Upside max profit is unbounded; downside max profit is bounded at the strike minus the combined call plus put debit (reached at zero). Max loss equals the combined debit times 100 (reached when the underlying pins to the strike). Two breakevens at strike plus debit and strike minus debit. For the CELU straddle priced from the end-of-day chain at a 30-day expiry (ATM IV 33.10%), 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 CELU straddle?: The breakeven for the CELU straddle 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 CELU market-implied 1-standard-deviation expected move is approximately 9.49%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a straddle on CELU?: Straddles on CELU are pure-volatility plays that profit from large moves in either direction; traders typically buy CELU straddles ahead of earnings, FDA decisions, or other catalysts where the realized move is expected to exceed the implied move priced into the chain.
How does current CELU implied volatility affect this straddle?: CELU ATM IV is at 33.10% with IV rank near 3.25%, 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.