NVNO Iron Condor Strategy
NVNO (enVVeno Medical Corporation), in the Healthcare sector, (Medical - Devices industry), listed on NASDAQ.
enVVeno Medical Corporation, based in Irvine, California, is a medical device firm founded in 1999 that is currently in its clinical development phase. The company's primary objective is to pioneer advanced bioprosthetic, tissue-engineered solutions intended to significantly elevate the existing standards of care for patients suffering from venous conditions. Their flagship product is the VenoValve, a specialized replacement venous valve developed for the management of chronic venous insufficiency. This device requires an open surgical procedure for implantation, which involves making a 5-to-6-inch incision in the patient's upper thigh to facilitate placement into the femoral vein. In addition to the VenoValve, enVVeno Medical is actively developing the enVVe system. This innovative system represents a non-surgical, transcatheter approach to venous valve replacement, comprising the enVVe valve itself, a dedicated delivery mechanism, and various supplementary accessories.
NVNO (enVVeno Medical Corporation) trades in the Healthcare sector, specifically Medical - Devices, with a market capitalization of approximately $178,893, a beta of 1.09 versus the broader market, a 52-week range of 8.67-196.7, average daily share volume of 10K, a public-listing history dating back to 2018, approximately 37 full-time employees. These structural characteristics shape how NVNO stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.09 places NVNO roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.
What is a iron condor on NVNO?
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 NVNO snapshot
As of June 30, 2026, spot at $10.64, ATM IV 55.00%, IV rank 7.80%, expected move 15.77%. The iron condor on NVNO 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 52-day expiry.
Why this iron condor structure on NVNO specifically: NVNO IV at 55.00% is on the cheap side of its 1-year range, which means a premium-selling NVNO iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 15.77% (roughly $1.68 on the underlying). The 52-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated NVNO expiries trade a higher absolute premium for lower per-day decay. Position sizing on NVNO should anchor to the underlying notional of $10.64 per share and to the trader's directional view on NVNO stock.
NVNO iron condor setup
The NVNO 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 NVNO near $10.64, the first option leg uses a $11.17 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed NVNO chain at a 52-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 NVNO shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $11.17 | N/A |
| Buy 1 | Call | $11.70 | N/A |
| Sell 1 | Put | $10.11 | N/A |
| Buy 1 | Put | $9.58 | N/A |
NVNO 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.
NVNO iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on NVNO. 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 NVNO
Iron condors on NVNO are a delta-neutral premium-collection structure that profits if NVNO stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
NVNO thesis for this iron condor
The market-implied 1-standard-deviation range for NVNO extends from approximately $8.96 on the downside to $12.32 on the upside. A NVNO iron condor is a delta-neutral premium-collection structure that pays off when NVNO 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 NVNO IV rank near 7.80% 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 NVNO at 55.00%. As a Healthcare name, NVNO options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to NVNO-specific events.
NVNO 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. NVNO positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move NVNO alongside the broader basket even when NVNO-specific fundamentals are unchanged. Short-premium structures like a iron condor on NVNO carry tail risk when realized volatility exceeds the implied move; review historical NVNO earnings reactions and macro stress periods before sizing. Always rebuild the position from current NVNO chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on NVNO?
- A iron condor on NVNO is the iron condor strategy applied to NVNO (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 NVNO stock trading near $10.64, the strikes shown on this page are snapped to the nearest listed NVNO chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are NVNO 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 NVNO iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 55.00%), 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 NVNO iron condor?
- The breakeven for the NVNO 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 NVNO market-implied 1-standard-deviation expected move is approximately 15.77%; 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 NVNO?
- Iron condors on NVNO are a delta-neutral premium-collection structure that profits if NVNO stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current NVNO implied volatility affect this iron condor?
- NVNO ATM IV is at 55.00% with IV rank near 7.80%, 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.