Iron Condor on Connect Biopharma Holdings (CNTB)
An iron condor on Connect Biopharma Holdings (CNTB) is a neutral / range-bound options strategy, anchored to CNTB's real 0.8489 USD price as of 2026-10-26. See how it works, an illustrative strike setup, and max profit/loss/breakeven below — not a live option quote.
Last updated 2026-10-26 · Source: end-of-day close (real price); strikes illustrative, educational only — not a live option quote
How does an iron condor on CNTB work?
An iron condor on Connect Biopharma Holdings sells an out-of-the-money call spread and an out-of-the-money put spread, profiting if CNTB stays between the short strikes into expiry. It is a defined-risk, range-bound strategy.
Outlook: neutral / range-bound. Real reference price: 0.8489 USD (as of 2026-10-26).
How to set up the iron condor (illustrative)
| Leg | Detail (illustrative) |
|---|---|
| Sell | call illustratively ~0.8913 USD and buy call ~0.9338 USD (call spread) |
| Sell | put illustratively ~0.8065 USD and buy put ~0.764 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 CNTB settles between ~0.8065 USD and ~0.8913 USD |
|---|---|
| Max loss | spread width − net credit (here the illustrative spread width is about 0.0425 USD) |
| Breakeven | short put strike − credit, and short call strike + credit |
When to use it — and the risks
When: When you expect CNTB 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
More on CNTB
Frequently asked questions
What is an iron condor on CNTB?
An iron condor on CNTB 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 CNTB?
Sell a call spread roughly 0.8913 USD-0.9338 USD and a put spread roughly 0.764 USD-0.8065 USD, bracketing the current 0.8489 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 CNTB 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 CNTB?
Best when you expect CNTB to stay range-bound with falling or stable implied volatility into expiry — not ahead of an event likely to cause a big move.