Set up an iron condor on Amgen?

Amgen (AMGN) has been under pressure in recent days. Amgen stock faces a "big unknown risk" with their obesity shot. As a result, implied volatility has spiked to 52%. That's much higher than the previous high for implied volatility of 32% and puts the implied volatility (IV) percentile at 100% and an IV Rank of 100%.

High volatility makes for good iron condors setups. We can place our short strikes much further away from the market than we normally could giving us a wider profit range. Let's look at how we might set up an iron condor on Amgen stock. (read more)
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Top-line 52-week data from the phase II study on MariTide, a GLP-1 receptor candidate in overweight or obese adults, is expected in late 2024, which will be a key catalyst for the stock. (read more)

GL/HF

 

Toddler vol-bot.

 

Welcome to the new world order.

 

The lesser of two evils will make America so healthy Amgen going bankrupt.

 

You're probably right. Now that we have sanity restored to gov/HHS we won't need weight loss/control drugs. OTOH, FDA might be dissolved completely and so no need for pesky drug approval. Tough call.

Thank God I do nothing but score touchdowns and women! I should be ok, lol.

 

If only... maybe I'd still have much of my sanity left.

 

just a Peggy Bundy.

 

It is well done, it looks legit. CGI has become something amazing.