ENTX Iron Condor Strategy
ENTX (Entera Bio Ltd.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
Entera Bio Ltd., a clinical-stage biopharmaceutical company, focuses on the development and commercialization of orally delivered large molecule therapeutics for unmet medical needs. The company's lead product candidates include the EB612, which is in Phase II clinical trials for the treatment of hypoparathyroidism; and EB613 that has completed Phase II clinical trials for the treatment of osteoporosis, as well as is in Phase I clinical trials for the treatment of non-union fractures. The company has a research collaboration and license agreement with the Amgen Inc. for the development and discovery of clinical candidates in the field of inflammatory disease and other serious illnesses. Entera Bio Ltd. was incorporated in 2009 and is based in Jerusalem, Israel.
ENTX (Entera Bio Ltd.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $63.5M, a beta of 1.55 versus the broader market, a 52-week range of 0.91-3.22, average daily share volume of 174K, a public-listing history dating back to 2018, approximately 18 full-time employees. These structural characteristics shape how ENTX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.55 indicates ENTX 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 ENTX?
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.
Current ENTX snapshot
As of May 15, 2026, spot at $1.25, ATM IV 23.50%, IV rank 1.22%, expected move 6.74%. The iron condor on ENTX 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 iron condor structure on ENTX specifically: ENTX IV at 23.50% is on the cheap side of its 1-year range, which means a premium-selling ENTX iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 6.74% (roughly $0.08 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 ENTX expiries trade a higher absolute premium for lower per-day decay. Position sizing on ENTX should anchor to the underlying notional of $1.25 per share and to the trader's directional view on ENTX stock.
ENTX iron condor setup
The ENTX 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 ENTX near $1.25, the first option leg uses a $1.31 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ENTX 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 ENTX shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $1.31 | N/A |
| Buy 1 | Call | $1.38 | N/A |
| Sell 1 | Put | $1.19 | N/A |
| Buy 1 | Put | $1.13 | N/A |
ENTX 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.
ENTX iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on ENTX. 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 ENTX
Iron condors on ENTX are a delta-neutral premium-collection structure that profits if ENTX stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
ENTX thesis for this iron condor
The market-implied 1-standard-deviation range for ENTX extends from approximately $1.17 on the downside to $1.33 on the upside. A ENTX iron condor is a delta-neutral premium-collection structure that pays off when ENTX 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 ENTX IV rank near 1.22% 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 ENTX at 23.50%. As a Healthcare name, ENTX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ENTX-specific events.
ENTX 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. ENTX positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ENTX alongside the broader basket even when ENTX-specific fundamentals are unchanged. Short-premium structures like a iron condor on ENTX carry tail risk when realized volatility exceeds the implied move; review historical ENTX earnings reactions and macro stress periods before sizing. Always rebuild the position from current ENTX chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on ENTX?
- A iron condor on ENTX is the iron condor strategy applied to ENTX (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 ENTX stock trading near $1.25, the strikes shown on this page are snapped to the nearest listed ENTX chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are ENTX 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 ENTX 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 ENTX iron condor?
- The breakeven for the ENTX iron condor 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 ENTX market-implied 1-standard-deviation expected move 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 ENTX?
- Iron condors on ENTX are a delta-neutral premium-collection structure that profits if ENTX stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current ENTX implied volatility affect this iron condor?
- ENTX ATM IV is at 23.50% with IV rank near 1.22%, 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.