VNRX Iron Condor Strategy
VNRX (VolitionRX Ltd), in the Healthcare sector, (Medical - Devices industry), listed on AMEX.
VolitionRx Limited, a multi-national epigenetics company, develops blood tests to help detect and monitor a range of cancers, and diseases associated with NETosis in the United States, Europe, and Asia. The company offers Nu.Q Vet, a cancer screening test for dogs and other animals; Nu.Q Nets, detects diseases associated with NETosis, such as sepsis; Nu.Q Discover, a solution to profiling nucleosomes. It also provides Nu.Q Cancer for predicting treatment response, monitoring treatment response and disease progression, and amending a patient's cancer treatment regimen; and Capture-PCR and Capture-Seq, which are isolating and capturing circulating tumor-derived DNA from plasma samples for early cancer detection. VolitionRx Limited is headquartered in Henderson, Nevada.
VNRX (VolitionRX Ltd) trades in the Healthcare sector, specifically Medical - Devices, with a market capitalization of approximately $5.6M, a beta of 1.14 versus the broader market, a 52-week range of 0.63-15.2, average daily share volume of 395K, a public-listing history dating back to 2012, approximately 67 full-time employees. These structural characteristics shape how VNRX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.14 places VNRX 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 VNRX?
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.
VNRX snapshot
As of August 14, 2026, spot at $0.55, ATM IV 29.90%, IV rank 3.38%, expected move 8.57%. The iron condor on VNRX 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 VNRX specifically: VNRX IV at 29.90% is on the cheap side of its 1-year range, which means a premium-selling VNRX iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 8.57% (roughly $0.05 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 VNRX expiries trade a higher absolute premium for lower per-day decay. Position sizing on VNRX should anchor to the underlying notional of $0.55 per share and to the trader's directional view on VNRX stock.
VNRX iron condor setup
The VNRX 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 VNRX at $0.55 on that close, the first option leg uses a $0.58 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed VNRX 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 VNRX shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $0.58 | N/A |
| Buy 1 | Call | $0.61 | N/A |
| Sell 1 | Put | $0.52 | N/A |
| Buy 1 | Put | $0.50 | N/A |
VNRX 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.
VNRX iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on VNRX. 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 VNRX
Iron condors on VNRX are a delta-neutral premium-collection structure that profits if VNRX stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
VNRX thesis for this iron condor
The market-implied 1-standard-deviation range for VNRX extends from approximately $0.50 on the downside to $0.60 on the upside. A VNRX iron condor is a delta-neutral premium-collection structure that pays off when VNRX 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 VNRX IV rank near 3.38% 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 VNRX at 29.90%. As a Healthcare name, VNRX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to VNRX-specific events.
VNRX 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. VNRX positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move VNRX alongside the broader basket even when VNRX-specific fundamentals are unchanged. Short-premium structures like a iron condor on VNRX carry tail risk when realized volatility exceeds the implied move; review historical VNRX earnings reactions and macro stress periods before sizing. Always rebuild the position from current VNRX chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on VNRX?
- A iron condor on VNRX is the iron condor strategy applied to VNRX (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 VNRX stock at $0.55 on the most recent close, the strikes shown on this page are snapped to the nearest listed VNRX chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are VNRX 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 VNRX iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 29.90%), 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 VNRX iron condor?
- The breakeven for the VNRX 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 VNRX market-implied 1-standard-deviation expected move in the same options snapshot is approximately 8.57%; 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 VNRX?
- Iron condors on VNRX are a delta-neutral premium-collection structure that profits if VNRX stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current VNRX implied volatility affect this iron condor?
- VNRX ATM IV is at 29.90% with IV rank near 3.38%, 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.