ITGR Iron Condor Strategy
ITGR (Integer Holdings Corporation), in the Healthcare sector, (Medical - Devices industry), listed on NYSE.
Integer Holdings Corporation functions as a global leader in outsourced medical device manufacturing, maintaining operations across the United States, Puerto Rico, Costa Rica, and other international regions. The company organizes its business into two primary divisions: Medical and Non-Medical. Within its Medical segment, Integer delivers a broad array of devices and components essential for numerous advanced medical procedures. These solutions cater to areas such as interventional cardiology, structural heart conditions, heart failure management, peripheral and neurovascular interventions, interventional oncology, electrophysiology, vascular access, infusion therapy, hemodialysis, urology, and gastroenterology. Their extensive product portfolio includes cardiac rhythm management devices like implantable pacemakers, defibrillators, cardiac monitors, leads, and heart failure therapies. They also produce neuromodulation devices, such as implantable spinal cord stimulators, alongside critical components like non-rechargeable batteries, feedthroughs, device enclosures, precision-machined parts, and lead sub-assemblies.
ITGR (Integer Holdings Corporation) trades in the Healthcare sector, specifically Medical - Devices, with a market capitalization of approximately $4.25B, a trailing P/E of 33.13, a beta of 0.61 versus the broader market, a 52-week range of 62-126.14, average daily share volume of 732K, a public-listing history dating back to 2000, approximately 11K full-time employees. These structural characteristics shape how ITGR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.61 indicates ITGR 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 ITGR?
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.
ITGR snapshot
As of August 14, 2026, spot at $125.38, ATM IV 363.90%, IV rank 75.25%, expected move 104.33%. The iron condor on ITGR below is built from the August 14, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 7-day expiry.
Why this iron condor structure on ITGR specifically: ITGR IV at 363.90% is rich versus its 1-year range, which favors premium-selling structures like a ITGR iron condor, with a market-implied 1-standard-deviation move of approximately 104.33% (roughly $130.81 on the underlying). The 7-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated ITGR expiries trade a higher absolute premium for lower per-day decay. Position sizing on ITGR should anchor to the underlying notional of $125.38 per share and to the trader's directional view on ITGR stock.
ITGR iron condor setup
The ITGR iron condor below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With ITGR at $125.38 on that close, the first option leg uses a $131.65 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ITGR chain at a 7-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 ITGR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $131.65 | N/A |
| Buy 1 | Call | $137.92 | N/A |
| Sell 1 | Put | $119.11 | N/A |
| Buy 1 | Put | $112.84 | N/A |
ITGR 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.
ITGR iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on ITGR. 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 ITGR
Iron condors on ITGR are a delta-neutral premium-collection structure that profits if ITGR stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
ITGR thesis for this iron condor
The market-implied 1-standard-deviation range for ITGR extends from approximately $-5.43 on the downside to $256.19 on the upside. A ITGR iron condor is a delta-neutral premium-collection structure that pays off when ITGR 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 ITGR IV rank near 75.25% sits in the upper third of its 1-year distribution, which historically reverts; this raises the bar for premium-buying structures and lowers it for premium-selling structures on ITGR at 363.90%. As a Healthcare name, ITGR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ITGR-specific events.
ITGR 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. ITGR positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ITGR alongside the broader basket even when ITGR-specific fundamentals are unchanged. Short-premium structures like a iron condor on ITGR carry tail risk when realized volatility exceeds the implied move; review historical ITGR earnings reactions and macro stress periods before sizing. Always rebuild the position from current ITGR chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on ITGR?
- A iron condor on ITGR is the iron condor strategy applied to ITGR (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 ITGR stock at $125.38 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed ITGR chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are ITGR 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 ITGR iron condor priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 363.90%), 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 ITGR iron condor?
- The breakeven for the ITGR iron condor priced on this page is no defined breakeven on the modeled curve at expiration, derived from the August 14, 2026 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 ITGR market-implied 1-standard-deviation expected move in the same options snapshot is approximately 104.33%; 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 ITGR?
- Iron condors on ITGR are a delta-neutral premium-collection structure that profits if ITGR stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current ITGR implied volatility affect this iron condor?
- ITGR ATM IV is at 363.90% with IV rank near 75.25%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.