NNOX Bull Call Spread Strategy
NNOX (Nano-X Imaging Ltd.), in the Healthcare sector, (Medical - Devices industry), listed on NASDAQ.
Nano-X Imaging Ltd. specializes in developing a commercial-grade tomographic imaging device that incorporates an innovative digital X-ray source, which leverages a digital micro-electro-mechanical systems (MEMS) semiconductor cathode. Beyond its hardware focus, the company also delivers teleradiology services and creates artificial intelligence (AI) applications tailored for practical use in medical imaging. Its core offerings include the Nanox.ARC, a prototype medical imaging system that integrates its proprietary digital X-ray technology, and Nanox.CLOUD, a complementary cloud-based software platform envisioned to facilitate medical screening as a service. Nano-X also operates Nanox.MARKETPLACE, a platform designed to connect imaging facilities and customers with radiologists for efficient remote interpretation of medical scans. Additionally, the company provides AI-driven software solutions to a wide range of healthcare entities, including hospitals, health maintenance organizations, integrated delivery networks, pharmaceutical companies, and insurers. These solutions are designed to analyze data from existing computed tomography (CT) scans to identify or predict undiagnosed or underdiagnosed medical conditions, such as osteoporosis and cardiovascular disease.
NNOX (Nano-X Imaging Ltd.) trades in the Healthcare sector, specifically Medical - Devices, with a market capitalization of approximately $75.9M, a beta of 1.17 versus the broader market, a 52-week range of 0.734-5.69, average daily share volume of 1.5M, a public-listing history dating back to 2020, approximately 165 full-time employees. These structural characteristics shape how NNOX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.17 places NNOX roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.
What is a bull call spread on NNOX?
A bull call spread buys an at-the-money call and sells an out-of-the-money call at a higher strike for defined risk and defined reward bounded by the strike width.
Current NNOX snapshot
As of June 29, 2026, spot at $1.30, ATM IV 254.40%, IV rank 54.45%, expected move 72.93%. The bull call spread on NNOX 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 18-day expiry.
Why this bull call spread structure on NNOX specifically: NNOX IV at 254.40% is mid-range versus its 1-year history, so strategy selection should anchor more to the directional thesis than to the IV regime, with a market-implied 1-standard-deviation move of approximately 72.93% (roughly $0.95 on the underlying). The 18-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated NNOX expiries trade a higher absolute premium for lower per-day decay. Position sizing on NNOX should anchor to the underlying notional of $1.30 per share and to the trader's directional view on NNOX stock.
NNOX bull call spread setup
The NNOX bull call spread below is built from the end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With NNOX near $1.30, the first option leg uses a $1.30 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed NNOX chain at a 18-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 NNOX shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $1.30 | N/A |
| Sell 1 | Call | $1.37 | N/A |
NNOX bull call spread 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 strike width minus net debit times 100; max loss equals net debit times 100. Breakeven is long-call strike plus net debit.
NNOX bull call spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bull call spread on NNOX. 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 bull call spread on NNOX
Bull call spreads on NNOX reduce the cost of a bullish NNOX stock position by selling a higher-strike call; suited to moderate-move theses where price reaches but does not vastly exceed the short strike.
NNOX thesis for this bull call spread
The market-implied 1-standard-deviation range for NNOX extends from approximately $0.35 on the downside to $2.25 on the upside. A NNOX bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on NNOX, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current NNOX IV rank near 54.45% is mid-range against its 1-year distribution, so the IV signal is neutral; the bull call spread thesis on NNOX should anchor more to the directional view and the expected-move geometry. As a Healthcare name, NNOX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to NNOX-specific events.
NNOX bull call spread positions are structurally moderately bullish; 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. NNOX positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move NNOX alongside the broader basket even when NNOX-specific fundamentals are unchanged. Long-premium structures like a bull call spread on NNOX are particularly exposed to IV-crush risk through scheduled events (earnings, FDA decisions, central-bank meetings) where IV typically contracts post-event regardless of the directional outcome. Always rebuild the position from current NNOX chain quotes before placing a trade.
Frequently asked questions
- What is a bull call spread on NNOX?
- A bull call spread on NNOX is the bull call spread strategy applied to NNOX (stock). The strategy is structurally moderately bullish: A bull call spread buys an at-the-money call and sells an out-of-the-money call at a higher strike for defined risk and defined reward bounded by the strike width. With NNOX stock trading near $1.30, the strikes shown on this page are snapped to the nearest listed NNOX chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are NNOX bull call spread max profit and max loss calculated?
- Max profit equals strike width minus net debit times 100; max loss equals net debit times 100. Breakeven is long-call strike plus net debit. For the NNOX bull call spread priced from the end-of-day chain at a 30-day expiry (ATM IV 254.40%), 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 NNOX bull call spread?
- The breakeven for the NNOX bull call spread 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 NNOX market-implied 1-standard-deviation expected move is approximately 72.93%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a bull call spread on NNOX?
- Bull call spreads on NNOX reduce the cost of a bullish NNOX stock position by selling a higher-strike call; suited to moderate-move theses where price reaches but does not vastly exceed the short strike.
- How does current NNOX implied volatility affect this bull call spread?
- NNOX ATM IV is at 254.40% with IV rank near 54.45%, 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.