Iron Condor on BioXcel Therapeutics (BTAI)
An iron condor on BioXcel Therapeutics (BTAI) is a neutral / range-bound options strategy, anchored to BTAI's real 0.043 USD price as of 2026-09-08. See how it works, an illustrative strike setup, and max profit/loss/breakeven below — not a live option quote.
Last updated 2026-09-08 · Source: FMP end-of-day close (real price); strikes illustrative, educational only — not a live option quote
How does an iron condor on BTAI work?
An iron condor on BioXcel Therapeutics sells an out-of-the-money call spread and an out-of-the-money put spread, profiting if BTAI stays between the short strikes into expiry. It is a defined-risk, range-bound strategy.
Outlook: neutral / range-bound. Real reference price: 0.043 USD (as of 2026-09-08).
How to set up the iron condor (illustrative)
| Leg | Detail (illustrative) |
|---|---|
| Sell | call illustratively ~0.0451 USD and buy call ~0.0473 USD (call spread) |
| Sell | put illustratively ~0.0408 USD and buy put ~0.0387 USD (put spread) |
Strikes are illustrative percentages of the real price, not live option quotes. Pick actual strikes and expiries from a broker's option chain.
Max profit, max loss and breakeven
| Max profit | the net credit received, kept in full if BTAI settles between ~0.0408 USD and ~0.0451 USD |
|---|---|
| Max loss | spread width − net credit (here the illustrative spread width is about 0.0022 USD) |
| Breakeven | short put strike − credit, and short call strike + credit |
When to use it — and the risks
When: When you expect BTAI to trade in a range with falling or stable volatility into expiry.
Risks: Losses occur on a large move beyond either short strike; defined-risk but the max loss can exceed the credit collected.
Related research pages
Frequently asked questions
What is an iron condor on BTAI?
An iron condor on BTAI combines a short call spread above the market and a short put spread below it, collecting a net credit that's kept in full if price stays inside both spreads.
How do you set up an iron condor for BTAI?
Sell a call spread roughly 0.0451 USD-0.0473 USD and a put spread roughly 0.0387 USD-0.0408 USD, bracketing the current 0.043 USD price. Real strikes and widths should come from the live option chain.
What is the max profit and loss?
Max profit is the credit collected if BTAI stays between the short strikes; max loss is the spread width minus that credit if price breaks out either side.
When should you use an iron condor on BTAI?
Best when you expect BTAI to stay range-bound with falling or stable implied volatility into expiry — not ahead of an event likely to cause a big move.