STTK Iron Condor Strategy
STTK (Shattuck Labs, Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
Shattuck Labs, Inc., a clinical-stage biotechnology company, develops therapeutics for the treatment of cancer and autoimmune disease in the United States. The company's lead product candidate is SL-172154, which is in Phase 1 clinical trial for the treatment of ovarian, fallopian tube, and peritoneal cancers. It also develops SL-279252 that is in Phase 1 clinical trial in patients with advanced solid tumors and lymphoma. The company was incorporated in 2016 and is headquartered in Austin, Texas.
STTK (Shattuck Labs, Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $323.3M, a beta of 1.19 versus the broader market, a 52-week range of 0.712-8.33, average daily share volume of 573K, a public-listing history dating back to 2020, approximately 44 full-time employees. These structural characteristics shape how STTK stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.19 places STTK 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 STTK?
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 STTK snapshot
As of May 15, 2026, spot at $6.28, ATM IV 164.60%, IV rank 31.20%, expected move 47.19%. The iron condor on STTK 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 STTK specifically: STTK IV at 164.60% is mid-range versus its 1-year history, so the credit collected on a STTK iron condor sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 47.19% (roughly $2.96 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 STTK expiries trade a higher absolute premium for lower per-day decay. Position sizing on STTK should anchor to the underlying notional of $6.28 per share and to the trader's directional view on STTK stock.
STTK iron condor setup
The STTK 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 STTK near $6.28, the first option leg uses a $6.59 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed STTK 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 STTK shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $6.59 | N/A |
| Buy 1 | Call | $6.91 | N/A |
| Sell 1 | Put | $5.97 | N/A |
| Buy 1 | Put | $5.65 | N/A |
STTK 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.
STTK iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on STTK. 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 STTK
Iron condors on STTK are a delta-neutral premium-collection structure that profits if STTK stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
STTK thesis for this iron condor
The market-implied 1-standard-deviation range for STTK extends from approximately $3.32 on the downside to $9.24 on the upside. A STTK iron condor is a delta-neutral premium-collection structure that pays off when STTK 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 STTK IV rank near 31.20% is mid-range against its 1-year distribution, so the IV signal is neutral; the iron condor thesis on STTK should anchor more to the directional view and the expected-move geometry. As a Healthcare name, STTK options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to STTK-specific events.
STTK 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. STTK positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move STTK alongside the broader basket even when STTK-specific fundamentals are unchanged. Short-premium structures like a iron condor on STTK carry tail risk when realized volatility exceeds the implied move; review historical STTK earnings reactions and macro stress periods before sizing. Always rebuild the position from current STTK chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on STTK?
- A iron condor on STTK is the iron condor strategy applied to STTK (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 STTK stock trading near $6.28, the strikes shown on this page are snapped to the nearest listed STTK chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are STTK 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 STTK iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 164.60%), 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 STTK iron condor?
- The breakeven for the STTK 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 STTK market-implied 1-standard-deviation expected move is approximately 47.19%; 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 STTK?
- Iron condors on STTK are a delta-neutral premium-collection structure that profits if STTK stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current STTK implied volatility affect this iron condor?
- STTK ATM IV is at 164.60% with IV rank near 31.20%, 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.