GRCE Iron Condor Strategy
GRCE (Grace Therapeutics, Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
Grace Therapeutics, Inc. specializes in the creation and commercialization of pharmaceutical products, primarily targeting uncommon and neglected diseases, with operations centered in Canada. The company's most advanced experimental treatment is GTX-104, an intravenous infusion designed to address subarachnoid hemorrhage. Its development pipeline further includes GTX-102, an oral mucosal betamethasone spray intended for the management of ataxia-telangiectasia, and GTX-101, a topical bioadhesive film-forming bupivacaine spray for postherpetic neuralgia. Established in 2002, the enterprise previously operated under the name Acasti Pharma Inc., before officially adopting Grace Therapeutics, Inc. in October 2024. The company's main offices are located in Princeton, New Jersey.
GRCE (Grace Therapeutics, Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $34.2M, a beta of 0.37 versus the broader market, a 52-week range of 1.79-5.18, average daily share volume of 303K, a public-listing history dating back to 2012, approximately 5 full-time employees. These structural characteristics shape how GRCE stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.37 indicates GRCE 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 GRCE?
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.
GRCE snapshot
As of August 14, 2026, spot at $2.17, ATM IV 232.90%, IV rank 45.13%, expected move 66.77%. The iron condor on GRCE 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 GRCE specifically: GRCE IV at 232.90% is mid-range versus its 1-year history, so the credit collected on a GRCE iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 66.77% (roughly $1.45 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 GRCE expiries trade a higher absolute premium for lower per-day decay. Position sizing on GRCE should anchor to the underlying notional of $2.17 per share and to the trader's directional view on GRCE stock.
GRCE iron condor setup
The GRCE 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 GRCE at $2.17 on that close, the first option leg uses a $2.28 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed GRCE 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 GRCE shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $2.28 | N/A |
| Buy 1 | Call | $2.39 | N/A |
| Sell 1 | Put | $2.06 | N/A |
| Buy 1 | Put | $1.95 | N/A |
GRCE 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.
GRCE iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on GRCE. 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 GRCE
Iron condors on GRCE are a delta-neutral premium-collection structure that profits if GRCE stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
GRCE thesis for this iron condor
The market-implied 1-standard-deviation range for GRCE extends from approximately $0.72 on the downside to $3.62 on the upside. A GRCE iron condor is a delta-neutral premium-collection structure that pays off when GRCE 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 GRCE IV rank near 45.13% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on GRCE should anchor more to the directional view and the expected-move geometry. As a Healthcare name, GRCE options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to GRCE-specific events.
GRCE 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. GRCE positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move GRCE alongside the broader basket even when GRCE-specific fundamentals are unchanged. Short-premium structures like a iron condor on GRCE carry tail risk when realized volatility exceeds the implied move; review historical GRCE earnings reactions and macro stress periods before sizing. Always rebuild the position from current GRCE chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on GRCE?
- A iron condor on GRCE is the iron condor strategy applied to GRCE (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 GRCE stock at $2.17 on the most recent close, the strikes shown on this page are snapped to the nearest listed GRCE chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are GRCE 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 GRCE iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 232.90%), 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 GRCE iron condor?
- The breakeven for the GRCE 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 GRCE market-implied 1-standard-deviation expected move in the same options snapshot is approximately 66.77%; 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 GRCE?
- Iron condors on GRCE are a delta-neutral premium-collection structure that profits if GRCE stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current GRCE implied volatility affect this iron condor?
- GRCE ATM IV is at 232.90% with IV rank near 45.13%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.