LTRN Iron Condor Strategy
LTRN (Lantern Pharma Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
Lantern Pharma Inc., a clinical stage biotechnology company, focuses on artificial intelligence, machine learning, and genomic data to streamline the drug development process. Its advanced drug candidate is LP-100, which is in phase II clinical trials to treat metastatic, castration-resistant, and prostate cancer. The company also develops LP-300 as a combination therapy for non or never-smokers with non-small cell lung cancer adenocarcinoma. In addition, its preclinical development drug candidate is LP-184, an alkylating agent that damages DNA in cancer cells that overexpress certain biomarkers or that harbor mutations in DNA repair pathways. Further, the company operates ADC program, an antibody drug conjugate therapeutic approach for cancer treatment. Additionally, the company's artificial intelligence platform RADR uses big data analytics and machine learning for combining molecular data.
LTRN (Lantern Pharma Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $28.4M, a beta of 2.10 versus the broader market, a 52-week range of 1.11-5.744, average daily share volume of 611K, a public-listing history dating back to 2020, approximately 24 full-time employees. These structural characteristics shape how LTRN stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.10 indicates LTRN 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 LTRN?
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 LTRN snapshot
As of May 15, 2026, spot at $3.11, ATM IV 340.80%, IV rank 68.85%, expected move 97.70%. The iron condor on LTRN 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 LTRN specifically: LTRN IV at 340.80% is mid-range versus its 1-year history, so the credit collected on a LTRN iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 97.70% (roughly $3.04 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 LTRN expiries trade a higher absolute premium for lower per-day decay. Position sizing on LTRN should anchor to the underlying notional of $3.11 per share and to the trader's directional view on LTRN stock.
LTRN iron condor setup
The LTRN 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 LTRN near $3.11, the first option leg uses a $3.27 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed LTRN 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 LTRN shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $3.27 | N/A |
| Buy 1 | Call | $3.42 | N/A |
| Sell 1 | Put | $2.95 | N/A |
| Buy 1 | Put | $2.80 | N/A |
LTRN 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.
LTRN iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on LTRN. 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 LTRN
Iron condors on LTRN are a delta-neutral premium-collection structure that profits if LTRN stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
LTRN thesis for this iron condor
The market-implied 1-standard-deviation range for LTRN extends from approximately $0.07 on the downside to $6.15 on the upside. A LTRN iron condor is a delta-neutral premium-collection structure that pays off when LTRN 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 LTRN IV rank near 68.85% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on LTRN should anchor more to the directional view and the expected-move geometry. As a Healthcare name, LTRN options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to LTRN-specific events.
LTRN 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. LTRN positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move LTRN alongside the broader basket even when LTRN-specific fundamentals are unchanged. Short-premium structures like a iron condor on LTRN carry tail risk when realized volatility exceeds the implied move; review historical LTRN earnings reactions and macro stress periods before sizing. Always rebuild the position from current LTRN chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on LTRN?
- A iron condor on LTRN is the iron condor strategy applied to LTRN (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 LTRN stock trading near $3.11, the strikes shown on this page are snapped to the nearest listed LTRN chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are LTRN 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 LTRN iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 340.80%), 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 LTRN iron condor?
- The breakeven for the LTRN 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 LTRN market-implied 1-standard-deviation expected move is approximately 97.70%; 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 LTRN?
- Iron condors on LTRN are a delta-neutral premium-collection structure that profits if LTRN stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current LTRN implied volatility affect this iron condor?
- LTRN ATM IV is at 340.80% with IV rank near 68.85%, 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.