SOPH Iron Condor Strategy
SOPH (SOPHiA GENETICS S.A.), in the Healthcare sector, (Medical - Healthcare Information Services industry), listed on NASDAQ.
SOPHiA GENETICS S.A. operates as a specialized company within the healthcare technology sector. The firm provides the SOPHiA DDM platform, a cloud-native Software-as-a-Service (SaaS) solution engineered to analyze diverse multimodal datasets and various diagnostic inputs, thereby extracting valuable insights. This platform, together with its related offerings and services, is widely adopted by hospitals, laboratories, and biopharmaceutical organizations across the globe. Founded in 2011, SOPHiA GENETICS S.A. is headquartered in Saint-Sulpice, Switzerland.
SOPH (SOPHiA GENETICS S.A.) trades in the Healthcare sector, specifically Medical - Healthcare Information Services, with a market capitalization of approximately $395.2M, a beta of 0.99 versus the broader market, a 52-week range of 2.81-5.94, average daily share volume of 149K, a public-listing history dating back to 2021, approximately 423 full-time employees. These structural characteristics shape how SOPH stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.99 places SOPH 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 SOPH?
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 SOPH snapshot
As of June 30, 2026, spot at $5.81, ATM IV 91.60%, IV rank 29.65%, expected move 26.26%. The iron condor on SOPH 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 iron condor structure on SOPH specifically: SOPH IV at 91.60% is on the cheap side of its 1-year range, which means a premium-selling SOPH iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 26.26% (roughly $1.53 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 SOPH expiries trade a higher absolute premium for lower per-day decay. Position sizing on SOPH should anchor to the underlying notional of $5.81 per share and to the trader's directional view on SOPH stock.
SOPH iron condor setup
The SOPH 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 SOPH near $5.81, the first option leg uses a $6.10 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed SOPH 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 SOPH shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $6.10 | N/A |
| Buy 1 | Call | $6.39 | N/A |
| Sell 1 | Put | $5.52 | N/A |
| Buy 1 | Put | $5.23 | N/A |
SOPH 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.
SOPH iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on SOPH. 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 SOPH
Iron condors on SOPH are a delta-neutral premium-collection structure that profits if SOPH stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
SOPH thesis for this iron condor
The market-implied 1-standard-deviation range for SOPH extends from approximately $4.28 on the downside to $7.34 on the upside. A SOPH iron condor is a delta-neutral premium-collection structure that pays off when SOPH 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 SOPH IV rank near 29.65% 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 SOPH at 91.60%. As a Healthcare name, SOPH options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to SOPH-specific events.
SOPH 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. SOPH positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move SOPH alongside the broader basket even when SOPH-specific fundamentals are unchanged. Short-premium structures like a iron condor on SOPH carry tail risk when realized volatility exceeds the implied move; review historical SOPH earnings reactions and macro stress periods before sizing. Always rebuild the position from current SOPH chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on SOPH?
- A iron condor on SOPH is the iron condor strategy applied to SOPH (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 SOPH stock trading near $5.81, the strikes shown on this page are snapped to the nearest listed SOPH chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are SOPH 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 SOPH iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 91.60%), 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 SOPH iron condor?
- The breakeven for the SOPH 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 SOPH market-implied 1-standard-deviation expected move is approximately 26.26%; 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 SOPH?
- Iron condors on SOPH are a delta-neutral premium-collection structure that profits if SOPH stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current SOPH implied volatility affect this iron condor?
- SOPH ATM IV is at 91.60% with IV rank near 29.65%, 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.