SRTS Iron Condor Strategy
SRTS (Sensus Healthcare, Inc.), in the Healthcare sector, (Medical - Devices industry), listed on NASDAQ.
Sensus Healthcare, Inc., a medical device company, manufactures and sells radiation therapy devices to healthcare providers worldwide. The company uses superficial radiation therapy (SRT), a low-energy X-ray technology in its portfolio of treatment devices. It offers SRT-100, a photon X-ray low energy superficial radiotherapy system that provides patients an alternative to surgery for treating non-melanoma skin cancers, including basal cell and squamous cell skin cancers, as well as other skin conditions, such as keloids; and SRT-100 Vision, which provides the user with a SRT-tailored treatment planning application that integrates the embedded high frequency ultrasound imaging module, volumetric tumor analysis, beam margins planning, and dosimetry parameters. The company also provides SRT-100 Plus; Sentinel service program, which offers its customers protection for their systems; and in-office laser rental services. In addition, it sells disposable lead shielding replacements; and disposable radiation safety items, such as aprons and eye shields, ultrasound probe film, and disposable applicator tips to treat various sized lesions and various areas of the body. Sensus Healthcare, Inc. was incorporated in 2010 and is headquartered in Boca Raton, Florida.
SRTS (Sensus Healthcare, Inc.) trades in the Healthcare sector, specifically Medical - Devices, with a market capitalization of approximately $56.8M, a beta of 1.19 versus the broader market, a 52-week range of 2.82-5.92, average daily share volume of 75K, a public-listing history dating back to 2016, approximately 54 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 1.19 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.
Current SRTS snapshot
As of May 15, 2026, spot at $3.63, ATM IV 108.90%, IV rank 23.96%, expected move 31.22%. The iron condor on SRTS 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 SRTS specifically: SRTS IV at 108.90% is on the cheap side of its 1-year range, which means a premium-selling SRTS iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 31.22% (roughly $1.13 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 SRTS expiries trade a higher absolute premium for lower per-day decay. Position sizing on SRTS should anchor to the underlying notional of $3.63 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 near $3.63, the first option leg uses a $3.81 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 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 SRTS shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $3.81 | N/A |
| Buy 1 | Call | $3.99 | N/A |
| Sell 1 | Put | $3.45 | N/A |
| Buy 1 | Put | $3.27 | 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 $2.50 on the downside to $4.76 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 23.96% 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 SRTS at 108.90%. 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 trading near $3.63, the strikes shown on this page are snapped to the nearest listed SRTS chain strike and the premiums come straight from the end-of-day 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 108.90%), 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 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 SRTS market-implied 1-standard-deviation expected move is approximately 31.22%; 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 108.90% with IV rank near 23.96%, 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.