ORGO Iron Condor Strategy
ORGO (Organogenesis Holdings Inc.), in the Healthcare sector, (Drug Manufacturers - Specialty & Generic industry), listed on NASDAQ.
Organogenesis Holdings Inc., a regenerative medicine company develops, manufactures, and commercializes solutions for the advanced wound care, and surgical and sports medicine markets in the United States. The company's advanced wound care products include Affinity, an amniotic membrane wound covering in which viable cells growth factors/cytokines, and ECM proteins in the native tissue are preserved; Apligraf, a bioengineered living cell therapy that produce spectrum of cytokines and growth factors; Dermagraft, a bioengineered product that produces human collagen, ECM, proteins, and cytokines; NuShield, a wound covering tissue includes both amnion and chorion membranes for spongy/intermediate layer intact; PuraPly , a antimicrobial barrier that enables conformability and fluid drainage; and Novachor, an amniotic membrane wound covering in which viable cells, growth factors/cytokines, and ECM proteins are preserved. Its surgical and sports medicine products comprise NuCel, a dehydrated placental tissue surgically applied to the target tissue to support native healing; ReNu, a cryopreserved suspension used to support healing of soft tissues; and FiberOS and OCMP used as a bone void filler primarily in orthopedic and neurosurgical applications. The company's pipeline products include PuraPly XT and PuraPly MZ to treat chronic, acute, and open wounds; PuraForce, a bioengineered porcine collagen surgical matrix for use in soft tissue reinforcement applications; and TransCyte, a bioengineered tissue for the treatment of partial thickness burns. It serves hospitals, wound care centers, government facilities, ambulatory service centers, and physician office through direct sales force and independent agencies. The company was founded in 1985 and is headquartered in Canton, Massachusetts.
ORGO (Organogenesis Holdings Inc.) trades in the Healthcare sector, specifically Drug Manufacturers - Specialty & Generic, with a market capitalization of approximately $347.4M, a beta of 1.31 versus the broader market, a 52-week range of 2.04-7.077, average daily share volume of 1.4M, a public-listing history dating back to 2017, approximately 869 full-time employees. These structural characteristics shape how ORGO stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.31 indicates ORGO 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 iron condor on ORGO?
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 ORGO snapshot
As of May 15, 2026, spot at $2.42, ATM IV 149.50%, IV rank 27.64%, expected move 42.86%. The iron condor on ORGO 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 iron condor structure on ORGO specifically: ORGO IV at 149.50% is on the cheap side of its 1-year range, which means a premium-selling ORGO iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 42.86% (roughly $1.04 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 ORGO expiries trade a higher absolute premium for lower per-day decay. Position sizing on ORGO should anchor to the underlying notional of $2.42 per share and to the trader's directional view on ORGO stock.
ORGO iron condor setup
The ORGO 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 ORGO near $2.42, the first option leg uses a $2.54 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ORGO 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 ORGO shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $2.54 | N/A |
| Buy 1 | Call | $2.66 | N/A |
| Sell 1 | Put | $2.30 | N/A |
| Buy 1 | Put | $2.18 | N/A |
ORGO 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.
ORGO iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on ORGO. 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 ORGO
Iron condors on ORGO are a delta-neutral premium-collection structure that profits if ORGO stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
ORGO thesis for this iron condor
The market-implied 1-standard-deviation range for ORGO extends from approximately $1.38 on the downside to $3.46 on the upside. A ORGO iron condor is a delta-neutral premium-collection structure that pays off when ORGO 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 ORGO IV rank near 27.64% 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 ORGO at 149.50%. As a Healthcare name, ORGO options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ORGO-specific events.
ORGO 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. ORGO positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ORGO alongside the broader basket even when ORGO-specific fundamentals are unchanged. Short-premium structures like a iron condor on ORGO carry tail risk when realized volatility exceeds the implied move; review historical ORGO earnings reactions and macro stress periods before sizing. Always rebuild the position from current ORGO chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on ORGO?
- A iron condor on ORGO is the iron condor strategy applied to ORGO (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 ORGO stock trading near $2.42, the strikes shown on this page are snapped to the nearest listed ORGO chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are ORGO 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 ORGO iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 149.50%), 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 ORGO iron condor?
- The breakeven for the ORGO 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 ORGO market-implied 1-standard-deviation expected move is approximately 42.86%; 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 ORGO?
- Iron condors on ORGO are a delta-neutral premium-collection structure that profits if ORGO stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current ORGO implied volatility affect this iron condor?
- ORGO ATM IV is at 149.50% with IV rank near 27.64%, 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.