How are CLDX 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 CLDX long call priced from the end-of-day chain at a 30-day expiry (ATM IV 42.10%), the computed maximum profit is unbounded per contract and the computed maximum loss is -$187.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a CLDX long call?

The breakeven for the CLDX long call priced on this page is roughly $32.88 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 CLDX market-implied 1-standard-deviation expected move is approximately 12.07%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current CLDX implied volatility affect this long call?

CLDX ATM IV is at 42.10% with IV rank near 3.82%, 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.

CLDX Long Call Strategy

CLDX (Celldex Therapeutics, Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.

Celldex Therapeutics, Inc., a biopharmaceutical company, engages in developing therapeutic monoclonal and bispecific antibodies for the treatment of various diseases. Its drug candidates include antibody-based therapeutics to treat patients with inflammatory diseases and various forms of cancer. The company's clinical development programs CDX-0159, a Phase I monoclonal antibody that binds the receptor tyrosine kinase KIT and inhibits its activity; CDX-1140, a human agonist monoclonal antibody targeted to CD40, a key activator of immune response, which is found on dendritic cells, macrophages, and B cells, as well as is expressed on various cancer cells; and CDX-527, a bispecific antibody, which uses the company's proprietary active anti-PD-L1 and CD27 human antibodies to couple CD27 costimulation with blockade of the PD-L1/PD-1 pathway to help prime and activate anti-tumor T cell responses through CD27 costimulation. The company has research collaboration and license agreements with University of Southampton to develop human antibodies towards CD27; Amgen Inc. with exclusive rights to CDX-301 and CD40 ligand; and Yale University. Celldex Therapeutics, Inc. was incorporated in 1983 and is headquartered in Hampton, New Jersey.

CLDX (Celldex Therapeutics, Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $2.16B, a beta of 0.98 versus the broader market, a 52-week range of 18.55-35.79, average daily share volume of 1.1M, a public-listing history dating back to 1986, approximately 186 full-time employees. These structural characteristics shape how CLDX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.98 places CLDX roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.

What is a long call on CLDX?

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 CLDX snapshot

As of May 15, 2026, spot at $31.31, ATM IV 42.10%, IV rank 3.82%, expected move 12.07%. The long call on CLDX 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 long call structure on CLDX specifically: CLDX IV at 42.10% is on the cheap side of its 1-year range, which favors premium-buying structures like a CLDX long call, with a market-implied 1-standard-deviation move of approximately 12.07% (roughly $3.78 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 CLDX expiries trade a higher absolute premium for lower per-day decay. Position sizing on CLDX should anchor to the underlying notional of $31.31 per share and to the trader's directional view on CLDX stock.

CLDX long call setup

The CLDX 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 CLDX near $31.31, the first option leg uses a $31.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CLDX 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 CLDX shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$31.00	$1.88

CLDX long call risk and reward

Net Premium / Debit: -$187.50
Max Profit (per contract): Unbounded
Max Loss (per contract): -$187.50
Breakeven(s): $32.88
Risk / Reward Ratio: Unbounded

Max profit is unbounded; max loss equals the premium paid times 100. Breakeven is strike plus premium.

CLDX long call payoff curve

Modeled P&L at expiration across a range of underlying prices for the long call on CLDX. 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	-100.0%	-$187.50
$6.93	-77.9%	-$187.50
$13.85	-55.8%	-$187.50
$20.78	-33.6%	-$187.50
$27.70	-11.5%	-$187.50
$34.62	+10.6%	+$174.35
$41.54	+32.7%	+$866.53
$48.46	+54.8%	+$1,558.70
$55.38	+76.9%	+$2,250.87
$62.31	+99.0%	+$2,943.04

When traders use long call on CLDX

Long calls on CLDX express a bullish thesis with defined risk; traders use them ahead of CLDX catalysts (earnings, product launches, macro events) when the expected upside justifies the premium and theta decay.

CLDX thesis for this long call

The market-implied 1-standard-deviation range for CLDX extends from approximately $27.53 on the downside to $35.09 on the upside. A CLDX 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 CLDX IV rank near 3.82% 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 CLDX at 42.10%. As a Healthcare name, CLDX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CLDX-specific events.

CLDX 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. CLDX positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CLDX alongside the broader basket even when CLDX-specific fundamentals are unchanged. Long-premium structures like a long call on CLDX 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 CLDX chain quotes before placing a trade.

Frequently asked questions

What is a long call on CLDX?: A long call on CLDX is the long call strategy applied to CLDX (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 CLDX stock trading near $31.31, the strikes shown on this page are snapped to the nearest listed CLDX chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are CLDX 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 CLDX long call priced from the end-of-day chain at a 30-day expiry (ATM IV 42.10%), the computed maximum profit is unbounded per contract and the computed maximum loss is -$187.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a CLDX long call?: The breakeven for the CLDX long call priced on this page is roughly $32.88 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 CLDX market-implied 1-standard-deviation expected move is approximately 12.07%; 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 CLDX?: Long calls on CLDX express a bullish thesis with defined risk; traders use them ahead of CLDX catalysts (earnings, product launches, macro events) when the expected upside justifies the premium and theta decay.
How does current CLDX implied volatility affect this long call?: CLDX ATM IV is at 42.10% with IV rank near 3.82%, 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.