LNAI Iron Condor Strategy
LNAI (Lunai Bioworks Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
A company rebranding from Renovaro, focusing on AI-powered therapeutics and biodefense, with “Neurotoxicity Intelligence Technology” in development.
LNAI (Lunai Bioworks Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $5.3M, a beta of 0.33 versus the broader market, a 52-week range of 0.151-5.5, average daily share volume of 22.3M, a public-listing history dating back to 2025, approximately 29 full-time employees. These structural characteristics shape how LNAI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.33 indicates LNAI 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 LNAI?
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 LNAI snapshot
As of May 14, 2026, spot at $0.28, ATM IV 17.50%, IV rank 0.00%, expected move 5.02%. The iron condor on LNAI 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 35-day expiry.
Why this iron condor structure on LNAI specifically: LNAI IV at 17.50% is on the cheap side of its 1-year range, which means a premium-selling LNAI iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 5.02% (roughly $0.01 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 LNAI expiries trade a higher absolute premium for lower per-day decay. Position sizing on LNAI should anchor to the underlying notional of $0.28 per share and to the trader's directional view on LNAI stock.
LNAI iron condor setup
The LNAI 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 LNAI near $0.28, the first option leg uses a $0.29 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed LNAI 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 LNAI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $0.29 | N/A |
| Buy 1 | Call | $0.31 | N/A |
| Sell 1 | Put | $0.27 | N/A |
| Buy 1 | Put | $0.25 | N/A |
LNAI 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.
LNAI iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on LNAI. 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 LNAI
Iron condors on LNAI are a delta-neutral premium-collection structure that profits if LNAI stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
LNAI thesis for this iron condor
The market-implied 1-standard-deviation range for LNAI extends from approximately $0.27 on the downside to $0.29 on the upside. A LNAI iron condor is a delta-neutral premium-collection structure that pays off when LNAI 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 LNAI IV rank near 0.00% 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 LNAI at 17.50%. As a Healthcare name, LNAI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to LNAI-specific events.
LNAI 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. LNAI positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move LNAI alongside the broader basket even when LNAI-specific fundamentals are unchanged. Short-premium structures like a iron condor on LNAI carry tail risk when realized volatility exceeds the implied move; review historical LNAI earnings reactions and macro stress periods before sizing. Always rebuild the position from current LNAI chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on LNAI?
- A iron condor on LNAI is the iron condor strategy applied to LNAI (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 LNAI stock trading near $0.28, the strikes shown on this page are snapped to the nearest listed LNAI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are LNAI 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 LNAI iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 17.50%), 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 LNAI iron condor?
- The breakeven for the LNAI 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 LNAI market-implied 1-standard-deviation expected move is approximately 5.02%; 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 LNAI?
- Iron condors on LNAI are a delta-neutral premium-collection structure that profits if LNAI stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current LNAI implied volatility affect this iron condor?
- LNAI ATM IV is at 17.50% with IV rank near 0.00%, 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.