NNOX Straddle 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 straddle on NNOX?
A long straddle buys an ATM call and an ATM put at the same strike, profiting from a large move in either direction; max loss equals the combined debit when the underlying pins to the strike at expiration.
Current NNOX snapshot
As of June 30, 2026, spot at $1.19, ATM IV 389.00%, IV rank 85.84%, expected move 111.52%. The straddle 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 17-day expiry.
Why this straddle structure on NNOX specifically: NNOX IV at 389.00% is rich versus its 1-year range, which makes a premium-buying NNOX straddle relatively expensive in absolute-cost terms, with a market-implied 1-standard-deviation move of approximately 111.52% (roughly $1.33 on the underlying). The 17-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 $1.19 per share and to the trader's directional view on NNOX stock.
NNOX straddle setup
The NNOX straddle 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 $1.19, the first option leg uses a $1.19 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 17-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 | $1.19 | N/A |
| Buy 1 | Put | $1.19 | N/A |
NNOX straddle 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
Upside max profit is unbounded; downside max profit is bounded at the strike minus the combined call plus put debit (reached at zero). Max loss equals the combined debit times 100 (reached when the underlying pins to the strike). Two breakevens at strike plus debit and strike minus debit.
NNOX straddle payoff curve
Modeled P&L at expiration across a range of underlying prices for the straddle 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 straddle on NNOX
Straddles on NNOX are pure-volatility plays that profit from large moves in either direction; traders typically buy NNOX straddles ahead of earnings, FDA decisions, or other catalysts where the realized move is expected to exceed the implied move priced into the chain.
NNOX thesis for this straddle
The market-implied 1-standard-deviation range for NNOX extends from approximately $-0.14 on the downside to $2.52 on the upside. A NNOX long straddle is a pure-volatility play: it profits when the underlying moves far enough from the strike in either direction to overcome the combined call plus put debit, regardless of direction. Current NNOX IV rank near 85.84% 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 NNOX at 389.00%. 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 straddle positions are structurally neutral / high-volatility (long premium); 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. Always rebuild the position from current NNOX chain quotes before placing a trade.
Frequently asked questions
- What is a straddle on NNOX?
- A straddle on NNOX is the straddle strategy applied to NNOX (stock). The strategy is structurally neutral / high-volatility (long premium): A long straddle buys an ATM call and an ATM put at the same strike, profiting from a large move in either direction; max loss equals the combined debit when the underlying pins to the strike at expiration. With NNOX stock trading near $1.19, 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 straddle max profit and max loss calculated?
- Upside max profit is unbounded; downside max profit is bounded at the strike minus the combined call plus put debit (reached at zero). Max loss equals the combined debit times 100 (reached when the underlying pins to the strike). Two breakevens at strike plus debit and strike minus debit. For the NNOX straddle priced from the end-of-day chain at a 30-day expiry (ATM IV 389.00%), 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 straddle?
- The breakeven for the NNOX straddle 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 111.52%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a straddle on NNOX?
- Straddles on NNOX are pure-volatility plays that profit from large moves in either direction; traders typically buy NNOX straddles ahead of earnings, FDA decisions, or other catalysts where the realized move is expected to exceed the implied move priced into the chain.
- How does current NNOX implied volatility affect this straddle?
- NNOX ATM IV is at 389.00% with IV rank near 85.84%, 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.