INMB Strangle Strategy

INMB (INmune Bio, Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.

INmune Bio, Inc. is a clinical-stage biotechnology company focused on developing novel immunotherapies. Its primary objective is to harness the body's innate immune system to combat various illnesses. The company is actively engaged in developing and bringing to market therapeutic candidates designed to address a spectrum of conditions such as blood cancers, solid tumors, and chronic inflammatory diseases. Its pipeline features key development programs including: INKmune: Aimed at treating women suffering from relapsed or refractory ovarian carcinoma and individuals diagnosed with high-risk myelodysplastic syndrome. INB03: An immunotherapy targeting patients with both hematologic malignancies and solid tumors. XPro1595: Under development for the treatment of Alzheimer's disease.

INMB (INmune Bio, Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $37.8M, a beta of 1.01 versus the broader market, a 52-week range of 1.09-3.244, average daily share volume of 603K, a public-listing history dating back to 2019, approximately 13 full-time employees. These structural characteristics shape how INMB stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.01 places INMB roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.

What is a strangle on INMB?

A long strangle buys an OTM call and an OTM put at offset strikes, cheaper than a straddle but requiring a larger underlying move to profit since both wings start out-of-the-money.

Current INMB snapshot

As of June 30, 2026, spot at $1.63, ATM IV 21.90%, IV rank 0.07%, expected move 6.28%. The strangle on INMB 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 17-day expiry.

Why this strangle structure on INMB specifically: INMB IV at 21.90% is on the cheap side of its 1-year range, which favors premium-buying structures like a INMB strangle, with a market-implied 1-standard-deviation move of approximately 6.28% (roughly $0.10 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated INMB expiries trade a higher absolute premium for lower per-day decay. Position sizing on INMB should anchor to the underlying notional of $1.63 per share and to the trader's directional view on INMB stock.

INMB strangle setup

The INMB strangle below is built from the end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With INMB near $1.63, the first option leg uses a $1.71 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed INMB chain at a 17-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 INMB shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$1.71	N/A
Buy 1	Put	$1.55	N/A

INMB strangle 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 put strike minus the combined debit (reached at zero). Max loss equals the combined debit times 100 (reached anywhere between the two OTM strikes). Two breakevens at call-strike plus debit and put-strike minus debit.

INMB strangle payoff curve

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

Strangles on INMB are the cheaper cousin of the straddle - traders use them when they want a large directional move but are willing to give up the inner-strike sensitivity in exchange for a lower up-front debit on the INMB chain.

INMB thesis for this strangle

The market-implied 1-standard-deviation range for INMB extends from approximately $1.53 on the downside to $1.73 on the upside. A INMB long strangle is the OTM cousin of the straddle: lower up-front cost but the underlying has to travel further past either OTM strike before the position turns profitable at expiration. Current INMB IV rank near 0.07% 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 INMB at 21.90%. As a Healthcare name, INMB options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to INMB-specific events.

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

Frequently asked questions

What is a strangle on INMB?: A strangle on INMB is the strangle strategy applied to INMB (stock). The strategy is structurally neutral / high-volatility (long premium, OTM): A long strangle buys an OTM call and an OTM put at offset strikes, cheaper than a straddle but requiring a larger underlying move to profit since both wings start out-of-the-money. With INMB stock trading near $1.63, the strikes shown on this page are snapped to the nearest listed INMB chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are INMB strangle max profit and max loss calculated?: Upside max profit is unbounded; downside max profit is bounded at the put strike minus the combined debit (reached at zero). Max loss equals the combined debit times 100 (reached anywhere between the two OTM strikes). Two breakevens at call-strike plus debit and put-strike minus debit. For the INMB strangle priced from the end-of-day chain at a 30-day expiry (ATM IV 21.90%), 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 INMB strangle?: The breakeven for the INMB strangle 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 INMB market-implied 1-standard-deviation expected move is approximately 6.28%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a strangle on INMB?: Strangles on INMB are the cheaper cousin of the straddle - traders use them when they want a large directional move but are willing to give up the inner-strike sensitivity in exchange for a lower up-front debit on the INMB chain.
How does current INMB implied volatility affect this strangle?: INMB ATM IV is at 21.90% with IV rank near 0.07%, 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.