SGHT Iron Condor Strategy
SGHT (Sight Sciences, Inc.), in the Healthcare sector, (Medical - Devices industry), listed on NASDAQ.
Sight Sciences, Inc., an ophthalmic medical device company, engages in the development and commercialization of surgical and nonsurgical technologies for the treatment of eye diseases. The company's products include OMNI Surgical System, a therapeutic device used by ophthalmic surgeons to reduce intraocular pressure in adult glaucoma patients; and TearCare System, a wearable eyelid technology for the treatment of dry eye disease (DED) for ophthalmologists and optometrists. It offers its products through sales representatives and distributors to hospitals, medical centers, and eyecare professionals in the United States. The company was incorporated in 2010 and is headquartered in Menlo Park, California.
SGHT (Sight Sciences, Inc.) trades in the Healthcare sector, specifically Medical - Devices, with a market capitalization of approximately $266.6M, a beta of 2.38 versus the broader market, a 52-week range of 3.11-9.236, average daily share volume of 346K, a public-listing history dating back to 2021, approximately 216 full-time employees. These structural characteristics shape how SGHT stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.38 indicates SGHT 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 SGHT?
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 SGHT snapshot
As of May 15, 2026, spot at $4.97, ATM IV 206.40%, IV rank 43.69%, expected move 59.17%. The iron condor on SGHT 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 SGHT specifically: SGHT IV at 206.40% is mid-range versus its 1-year history, so the credit collected on a SGHT iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 59.17% (roughly $2.94 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 SGHT expiries trade a higher absolute premium for lower per-day decay. Position sizing on SGHT should anchor to the underlying notional of $4.97 per share and to the trader's directional view on SGHT stock.
SGHT iron condor setup
The SGHT 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 SGHT near $4.97, the first option leg uses a $5.22 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed SGHT 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 SGHT shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $5.22 | N/A |
| Buy 1 | Call | $5.47 | N/A |
| Sell 1 | Put | $4.72 | N/A |
| Buy 1 | Put | $4.47 | N/A |
SGHT 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.
SGHT iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on SGHT. 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 SGHT
Iron condors on SGHT are a delta-neutral premium-collection structure that profits if SGHT stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
SGHT thesis for this iron condor
The market-implied 1-standard-deviation range for SGHT extends from approximately $2.03 on the downside to $7.91 on the upside. A SGHT iron condor is a delta-neutral premium-collection structure that pays off when SGHT 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 SGHT IV rank near 43.69% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on SGHT should anchor more to the directional view and the expected-move geometry. As a Healthcare name, SGHT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to SGHT-specific events.
SGHT 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. SGHT positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move SGHT alongside the broader basket even when SGHT-specific fundamentals are unchanged. Short-premium structures like a iron condor on SGHT carry tail risk when realized volatility exceeds the implied move; review historical SGHT earnings reactions and macro stress periods before sizing. Always rebuild the position from current SGHT chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on SGHT?
- A iron condor on SGHT is the iron condor strategy applied to SGHT (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 SGHT stock trading near $4.97, the strikes shown on this page are snapped to the nearest listed SGHT chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are SGHT 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 SGHT iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 206.40%), 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 SGHT iron condor?
- The breakeven for the SGHT 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 SGHT market-implied 1-standard-deviation expected move is approximately 59.17%; 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 SGHT?
- Iron condors on SGHT are a delta-neutral premium-collection structure that profits if SGHT stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current SGHT implied volatility affect this iron condor?
- SGHT ATM IV is at 206.40% with IV rank near 43.69%, 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.