NTLA Long Call Strategy
NTLA (Intellia Therapeutics, Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
Intellia Therapeutics, Inc., a genome editing company, focuses on the development of therapeutics. The company's in vivo programs include NTLA-2001, which is in Phase 1 clinical trial for the treatment of transthyretin amyloidosis; and NTLA-2002 for the treatment of hereditary angioedema, as well as other liver-focused programs comprising hemophilia A and hemophilia B, hyperoxaluria Type 1, and alpha-1 antitrypsin deficiency. Its ex vivo pipeline includes NTLA-5001 for the treatment of acute myeloid leukemia; and proprietary programs focused on developing engineered cell therapies to treat various oncological and autoimmune disorders. In addition, it offers tools comprising of Clustered, Regularly Interspaced Short Palindromic Repeats/CRISPR associated 9 (CRISPR/Cas9) system. Intellia Therapeutics, Inc. has license and collaboration agreements with Novartis Institutes for BioMedical Research, Inc. to engineer hematopoietic stem cells for the treatment of sickle cell disease; Regeneron Pharmaceuticals, Inc. to co-develop potential products for the treatment of hemophilia A and hemophilia B; Ospedale San Raffaele; and a strategic collaboration with SparingVision SAS to develop novel genomic medicines utilizing CRISPR/Cas9 technology for the treatment of ocular diseases. The company was formerly known as AZRN, Inc.
NTLA (Intellia Therapeutics, Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $1.60B, a beta of 1.93 versus the broader market, a 52-week range of 6.83-28.25, average daily share volume of 5.8M, a public-listing history dating back to 2016, approximately 403 full-time employees. These structural characteristics shape how NTLA stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.93 indicates NTLA 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 long call on NTLA?
A long call buys upside exposure with a fixed maximum loss equal to the premium paid; profit accrues if the underlying closes above the strike plus premium at expiration.
Current NTLA snapshot
As of May 15, 2026, spot at $13.39, ATM IV 82.70%, IV rank 28.90%, expected move 23.71%. The long call on NTLA 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 long call structure on NTLA specifically: NTLA IV at 82.70% is on the cheap side of its 1-year range, which favors premium-buying structures like a NTLA long call, with a market-implied 1-standard-deviation move of approximately 23.71% (roughly $3.17 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 NTLA expiries trade a higher absolute premium for lower per-day decay. Position sizing on NTLA should anchor to the underlying notional of $13.39 per share and to the trader's directional view on NTLA stock.
NTLA long call setup
The NTLA long call below is built from the end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With NTLA near $13.39, the first option leg uses a $13.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed NTLA 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 NTLA shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $13.00 | $1.58 |
NTLA long call risk and reward
- Net Premium / Debit
- -$157.50
- Max Profit (per contract)
- Unbounded
- Max Loss (per contract)
- -$157.50
- Breakeven(s)
- $14.58
- Risk / Reward Ratio
- Unbounded
Max profit is unbounded; max loss equals the premium paid times 100. Breakeven is strike plus premium.
NTLA long call payoff curve
Modeled P&L at expiration across a range of underlying prices for the long call on NTLA. 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.
| Underlying Price | % From Spot | P&L at Expiration |
|---|---|---|
| $0.01 | -99.9% | -$157.50 |
| $2.97 | -77.8% | -$157.50 |
| $5.93 | -55.7% | -$157.50 |
| $8.89 | -33.6% | -$157.50 |
| $11.85 | -11.5% | -$157.50 |
| $14.81 | +10.6% | +$23.25 |
| $17.77 | +32.7% | +$319.20 |
| $20.73 | +54.8% | +$615.15 |
| $23.69 | +76.9% | +$911.10 |
| $26.65 | +99.0% | +$1,207.05 |
When traders use long call on NTLA
Long calls on NTLA express a bullish thesis with defined risk; traders use them ahead of NTLA catalysts (earnings, product launches, macro events) when the expected upside justifies the premium and theta decay.
NTLA thesis for this long call
The market-implied 1-standard-deviation range for NTLA extends from approximately $10.22 on the downside to $16.56 on the upside. A NTLA long call expresses a directional view that the underlying closes above the strike plus premium at expiration, ideally with implied volatility holding or expanding to preserve extrinsic value through the hold period. Current NTLA IV rank near 28.90% 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 NTLA at 82.70%. As a Healthcare name, NTLA options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to NTLA-specific events.
NTLA long call positions are structurally 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. NTLA positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move NTLA alongside the broader basket even when NTLA-specific fundamentals are unchanged. Long-premium structures like a long call on NTLA 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 NTLA chain quotes before placing a trade.
Frequently asked questions
- What is a long call on NTLA?
- A long call on NTLA is the long call strategy applied to NTLA (stock). The strategy is structurally bullish: A long call buys upside exposure with a fixed maximum loss equal to the premium paid; profit accrues if the underlying closes above the strike plus premium at expiration. With NTLA stock trading near $13.39, the strikes shown on this page are snapped to the nearest listed NTLA chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are NTLA long call max profit and max loss calculated?
- Max profit is unbounded; max loss equals the premium paid times 100. Breakeven is strike plus premium. For the NTLA long call priced from the end-of-day chain at a 30-day expiry (ATM IV 82.70%), the computed maximum profit is unbounded per contract and the computed maximum loss is -$157.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a NTLA long call?
- The breakeven for the NTLA long call priced on this page is roughly $14.58 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 NTLA market-implied 1-standard-deviation expected move is approximately 23.71%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a long call on NTLA?
- Long calls on NTLA express a bullish thesis with defined risk; traders use them ahead of NTLA catalysts (earnings, product launches, macro events) when the expected upside justifies the premium and theta decay.
- How does current NTLA implied volatility affect this long call?
- NTLA ATM IV is at 82.70% with IV rank near 28.90%, 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.