SRTS Iron Condor Strategy
SRTS (Sensus Healthcare, Inc.), in the Healthcare sector, (Medical - Devices industry), listed on NASDAQ.
Sensus Healthcare, Inc. operates as a medical technology enterprise, manufacturing and distributing radiation therapy apparatuses to medical institutions across the globe. The company's portfolio leverages superficial radiation therapy (SRT), a cutting-edge low-energy X-ray methodology. Their product line features the SRT-100, a photon X-ray system for low-energy superficial radiotherapy. This device presents a non-surgical alternative for patients dealing with non-melanoma skin cancers, including basal cell and squamous cell carcinomas, alongside other dermatological issues like keloids. Another key offering is the SRT-100 Vision, which incorporates a specialized SRT treatment planning application. This application seamlessly integrates an embedded high-frequency ultrasound imaging module, tools for volumetric tumor analysis, beam margin delineation, and dosimetry parameter configuration.
SRTS (Sensus Healthcare, Inc.) trades in the Healthcare sector, specifically Medical - Devices, with a market capitalization of approximately $51.5M, a beta of 1.12 versus the broader market, a 52-week range of 2.66-5.49, average daily share volume of 49K, a public-listing history dating back to 2016, approximately 60 full-time employees. These structural characteristics shape how SRTS stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.12 places SRTS 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 SRTS?
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.
SRTS snapshot
As of August 14, 2026, spot at $2.85, ATM IV 277.20%, IV rank 56.26%, expected move 79.47%. The iron condor on SRTS below is built from the end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.
Why this iron condor structure on SRTS specifically: SRTS IV at 277.20% is mid-range versus its 1-year history, so the credit collected on a SRTS iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 79.47% (roughly $2.26 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated SRTS expiries trade a higher absolute premium for lower per-day decay. Position sizing on SRTS should anchor to the underlying notional of $2.85 per share and to the trader's directional view on SRTS stock.
SRTS iron condor setup
The SRTS 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 SRTS at $2.85 on that close, the first option leg uses a $2.99 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed SRTS chain at a 35-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 SRTS shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $2.99 | N/A |
| Buy 1 | Call | $3.14 | N/A |
| Sell 1 | Put | $2.71 | N/A |
| Buy 1 | Put | $2.57 | N/A |
SRTS 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.
SRTS iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on SRTS. 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 SRTS
Iron condors on SRTS are a delta-neutral premium-collection structure that profits if SRTS stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
SRTS thesis for this iron condor
The market-implied 1-standard-deviation range for SRTS extends from approximately $0.59 on the downside to $5.11 on the upside. A SRTS iron condor is a delta-neutral premium-collection structure that pays off when SRTS 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 SRTS IV rank near 56.26% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on SRTS should anchor more to the directional view and the expected-move geometry. As a Healthcare name, SRTS options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to SRTS-specific events.
SRTS 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. SRTS positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move SRTS alongside the broader basket even when SRTS-specific fundamentals are unchanged. Short-premium structures like a iron condor on SRTS carry tail risk when realized volatility exceeds the implied move; review historical SRTS earnings reactions and macro stress periods before sizing. Always rebuild the position from current SRTS chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on SRTS?
- A iron condor on SRTS is the iron condor strategy applied to SRTS (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 SRTS stock at $2.85 on the most recent close, the strikes shown on this page are snapped to the nearest listed SRTS chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are SRTS 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 SRTS iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 277.20%), 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 SRTS iron condor?
- The breakeven for the SRTS iron condor priced on this page is no defined breakeven on the modeled curve at expiration, derived from the end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The SRTS market-implied 1-standard-deviation expected move in the same options snapshot is approximately 79.47%; 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 SRTS?
- Iron condors on SRTS are a delta-neutral premium-collection structure that profits if SRTS stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current SRTS implied volatility affect this iron condor?
- SRTS ATM IV is at 277.20% with IV rank near 56.26%, 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.