MYGN Iron Condor Strategy
MYGN (Myriad Genetics, Inc.), in the Healthcare sector, (Medical - Diagnostics & Research industry), listed on NASDAQ.
Myriad Genetics, Inc., a molecular diagnostics and precision medicine company, develops molecular tests. The company offers molecular diagnostic tests for oncology, women’s health, and pharmacogenomics. It also provides MyRisk Hereditary Cancer test, a DNA sequencing test for hereditary cancers; BRACAnalysis CDx Germline Companion Diagnostic test, a DNA sequencing test for metastatic breast, ovarian, metastatic pancreatic, and metastatic prostate cancer with deleterious or suspected deleterious germline BRCA variants; and MyChoice CDx Companion Diagnostic test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer. In addition, the company offers Prolaris Prostate Cancer Prognostic test, an RNA expression tumor analysis for assessing the aggressiveness of prostate cancer; EndoPredict Breast Cancer Prognostic test, an RNA expression test for assessing the aggressiveness of breast cancer; Precise Tumor Molecular Profile test, a genomic profiling test; Prequel Prenatal Screen, a non-invasive prenatal screening test conducted using maternal blood to screen for severe chromosomal disorders in a fetus; Foresight Carrier Screen, a prenatal test for future parents to assess their risk of passing on a recessive genetic condition to their offspring; SneakPeek Early Gender DNA test, a non-invasive blood test that predicts the gender of a fetus; FirstGene; and GeneSight Psychotropic Mental Health Medication test, a DNA genotyping test to aid psychotropic drug selection for depression, anxiety, attention-deficit/hyperactivity disorder, and other mental health conditions. It has a license collaboration with Illumina, Inc.; University of Texas M.D. Anderson Cancer Center; Mayo Foundation for Medical Education and Research; Children’s Medical Center in Boston; Institut Curie and INSERM; and Eurobio Scientific SA.
MYGN (Myriad Genetics, Inc.) trades in the Healthcare sector, specifically Medical - Diagnostics & Research, with a market capitalization of approximately $305.1M, a beta of 1.67 versus the broader market, a 52-week range of 2.74-8.59, average daily share volume of 1.8M, a public-listing history dating back to 1995, approximately 3K full-time employees. These structural characteristics shape how MYGN stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.67 indicates MYGN has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. MYGN pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a iron condor on MYGN?
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.
MYGN snapshot
As of August 14, 2026, spot at $3.05, ATM IV 480.60%, IV rank 100.00%, expected move 137.78%. The iron condor on MYGN 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 MYGN specifically: MYGN IV at 480.60% is rich versus its 1-year range, which favors premium-selling structures like a MYGN iron condor, with a market-implied 1-standard-deviation move of approximately 137.78% (roughly $4.20 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 MYGN expiries trade a higher absolute premium for lower per-day decay. Position sizing on MYGN should anchor to the underlying notional of $3.05 per share and to the trader's directional view on MYGN stock.
MYGN iron condor setup
The MYGN 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 MYGN at $3.05 on that close, the first option leg uses a $3.20 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed MYGN 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 MYGN shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $3.20 | N/A |
| Buy 1 | Call | $3.36 | N/A |
| Sell 1 | Put | $2.90 | N/A |
| Buy 1 | Put | $2.75 | N/A |
MYGN 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.
MYGN iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on MYGN. 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 MYGN
Iron condors on MYGN are a delta-neutral premium-collection structure that profits if MYGN stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
MYGN thesis for this iron condor
The market-implied 1-standard-deviation range for MYGN extends from approximately $-1.15 on the downside to $7.25 on the upside. A MYGN iron condor is a delta-neutral premium-collection structure that pays off when MYGN 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 MYGN IV rank near 100.00% 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 MYGN at 480.60%. As a Healthcare name, MYGN options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to MYGN-specific events.
MYGN 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. MYGN positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move MYGN alongside the broader basket even when MYGN-specific fundamentals are unchanged. Short-premium structures like a iron condor on MYGN carry tail risk when realized volatility exceeds the implied move; review historical MYGN earnings reactions and macro stress periods before sizing. Always rebuild the position from current MYGN chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on MYGN?
- A iron condor on MYGN is the iron condor strategy applied to MYGN (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 MYGN stock at $3.05 on the most recent close, the strikes shown on this page are snapped to the nearest listed MYGN chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are MYGN 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 MYGN iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 480.60%), 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 MYGN iron condor?
- The breakeven for the MYGN 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 MYGN market-implied 1-standard-deviation expected move in the same options snapshot is approximately 137.78%; 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 MYGN?
- Iron condors on MYGN are a delta-neutral premium-collection structure that profits if MYGN stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current MYGN implied volatility affect this iron condor?
- MYGN ATM IV is at 480.60% with IV rank near 100.00%, 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.