Best Options Strategy for ANNX
Looking for the best options strategy for Annexon, Inc. (ANNX)? There is no single answer — the right play depends on your outlook, your risk tolerance and current implied volatility. Below, our free engine shows the highest-scoring defined-risk strategy on the live ANNX option chain right now, and a simple map from your view on ANNX to the strategy that fits it. Model any of them in the calculator before you trade.
About ANNX
Annexon, Inc. (ANNX) is a major company in Biotechnology. Options traders on ANNX tend to watch , since these can drive large moves in the share price.
About Annexon, Inc.
Annexon is a clinical-stage biotech firm focused on developing medicines for inflammatory and neurological diseases. The company's lead candidate, Tanruprubart, is a monoclonal antibody currently in Phase 3 testing for Guillain-Barré syndrome, while earlier-stage trials are underway for Huntington's disease and amyotrophic lateral sclerosis. Beyond Tanruprubart, the pipeline includes ANX007, a smaller antibody fragment in Phase 3 development for geographic atrophy, ANX1502, an oral small molecule in Phase 1 trials for autoimmune conditions, and ANX009, a C1q-blocking antibody fragment in Phase 1 studies for lupus nephritis. Founded in 2011 and based in Brisbane, California, the company operates primarily on development of its proprietary drug candidates.
As a clinical-stage company with no approved products on the market, Annexon generates revenue through research collaborations, grant funding, and potentially milestone or licensing arrangements rather than product sales. The firm's financial model depends on advancing its pipeline through clinical trials while managing development costs. Its addressable market encompasses relatively rare neurological and autoimmune diseases,…
Today's top-scoring strategy for ANNX
Our engine ranks defined-risk strategies on the live ANNX chain by probability of profit and risk/reward, then surfaces the best-scoring one. It is an educational illustration, not advice.
| Action | Qty | Type | Strike | Premium |
|---|---|---|---|---|
| Buy | 1× | PUT | $7 | $1.25 |
| Sell | 1× | PUT | $7 | $1.25 |
| Sell | 1× | CALL | $5 | $0.96 |
| Buy | 1× | CALL | $6 | $0.28 |
Simulation
Forward simulation of 6,000 lognormal price paths to expiration — not a historical backtest.
Strategy analysis
Greeks vs price
Price × volatility (today)
| −30% | −15% | IV | +15% | +30% | |
|---|---|---|---|---|---|
| $7 | $3 | $8 | $12 | $15 | $18 |
| $6 | $7 | $12 | $15 | $18 | $21 |
| $6 | $12 | $16 | $19 | $21 | $24 |
| $6 | $18 | $20 | $23 | $25 | $26 |
| $6 | $23 | $25 | $26 | $28 | $29 |
| $5 | $29 | $30 | $30 | $31 | $32 |
| $5 | $35 | $34 | $34 | $35 | $35 |
| $5 | $40 | $39 | $38 | $38 | $39 |
| $4 | $46 | $44 | $42 | $42 | $42 |
| $4 | $51 | $48 | $46 | $45 | $45 |
| $4 | $55 | $52 | $50 | $49 | $48 |
Live scan from 2026-08-14 · quotes delayed ~15 minutes
Historical backtest: how a Iron Butterfly on ANNX would have performed
We approximated a Iron Butterfly on ANNX, entered repeatedly over the past year (92 historical entries, each held to expiration) with Black-Scholes-modelled entry premiums. Here is how that would have played out on real ANNX price history — an educational backtest, not a prediction of future returns.
Approximate: entry premiums are modelled with Black-Scholes from trailing realised volatility, held to expiration and settled against the real historical close. Real fills, implied volatility and slippage differ — treat it as directional context, not exact returns.
Implied volatility
ANNX is currently trading with high implied volatility, which makes its options expensive — and attractive to sell. On the options we scanned that was around 154% implied volatility, and higher implied volatility means richer premiums and wider expected moves.
Options on ANNX currently price in about 154% implied volatility, versus roughly 80% the stock has actually realised over the past month. That makes options relatively expensive — an edge for strategies that sell premium, such as credit spreads and iron condors.
ANNX's IV Rank is 0/100: implied volatility sits 0% of the way between its 11-day low (154%) and high (385%), and is above 17% of recorded days. Premium is historically cheap, which favours net-debit strategies like long options and debit spreads.
Off that volatility, the options market is pricing a move of about ±$2.49 (±47%) in ANNX by 2026-09-18 — a range of roughly $2.8 to $7.77. Strikes inside that band hold most of the premium and see most of the action.
ANNX options chain highlights: open interest, volume and skew
The live ANNX options chain shows a put/call open-interest ratio of 0 (bullish-leaning (more calls)), with at-the-money implied volatility near 147.9%.
Snapshot of open interest, volume and implied volatility for the nearest scanned expiration — context, not a trading signal.
ANNX insider trading activity (SEC Form 4)
Open-market insider transactions at ANNX over roughly the last six months, from SEC Form 4 filings. Open-market buys are the rarer, more telling signal — routine selling under pre-arranged plans is common, so read a net-selling figure with that in mind.
| Insider | Action | Shares | Value | Date |
|---|---|---|---|---|
| Satter Muneer A | Buy | 613,497 | $3.3M | 2026-05-28 |
| Carson William H. | Buy | 8,000 | $46K | 2026-05-11 |
| Carson William H. | Buy | 8,000 | $50K | 2026-04-10 |
| Carson William H. | Buy | 8,000 | $45K | 2026-03-10 |
| ARTIS DEAN RICHARD | Sell | 5,894 | $32K | 2026-03-02 |
| Yednock Ted | Sell | 5,566 | $30K | 2026-03-02 |
Source: SEC Form 4 filings via Finnhub. Open-market purchases (P) and sales (S) only — grants, option exercises, gifts and tax withholding are excluded. Informational context, not investment advice.
Earnings & IV crush
ANNX's next earnings report is due around November 9, 2026. Options that expire after it price in a binary move, so their implied volatility is elevated and usually collapses right after the announcement — an "IV crush". If your expiration falls before this date, the trade sidesteps the event.
Key figures
- Market cap
- $877M
- Beta (vs market)
- 1.22
- 52-week range
- $2.03–$7.18 (63% up the range)
- Short interest
- 19.5% of float · 5.7 days to cover
With 19.5% of ANNX's float sold short, squeeze and gap risk are elevated — one reason its options can stay expensive.
Other strong setups for ANNX
If your view on ANNX differs, these also scored well in the latest scan:
How to choose an options strategy for ANNX
Start with your outlook on ANNX, then match it to a defined-risk structure. Here are the most common choices and when each makes sense:
Bullish
Buy a call for leverage with capped risk, or a bull call spread to lower the cost and breakeven when you have a target price.
Long Call → Bull Call Spread →Bearish
Buy a put to profit from a decline with defined risk, or a bear put spread to cheapen the trade when you expect a measured move down.
Long Put → Bear Put Spread →Neutral
Sell an iron condor to collect premium while ANNX stays between two strikes, or write a covered call against shares you already own.
Iron Condor → Covered Call →⧉ Embed this free calculator on your site →
How we pick the best strategy
For each ticker we pull the live option chain, build every supported strategy around the at-the-money strikes, and score them on probability of profit, risk/reward and capital efficiency — favouring defined-risk structures where the maximum loss is known up front. Methodology →
Open ANNX in the free calculator →
Frequently asked questions
What is the best options strategy for ANNX?
It depends on your outlook. Bullish traders often use a long call or bull call spread on ANNX; bearish traders a long put or bear put spread; neutral traders an iron condor or covered call. Our live scan above shows the current highest-scoring defined-risk play.
Are ANNX options liquid enough to trade?
Annexon, Inc. (ANNX) is among the most actively-traded US options, which usually means tight bid/ask spreads and plenty of strikes and expirations — though you should always check the open interest and spread on the exact contract.
How much money do I need to trade ANNX options?
Buying a single ANNX call or put can cost as little as the premium (often one to a few hundred dollars), while income strategies like a cash-secured put need enough capital to buy 100 shares if assigned.
Is this financial advice?
No. Everything here is educational and uses delayed, third-party data. It is not a recommendation to trade ANNX or any security. Do your own research.
What does Annexon, Inc. do?
Annexon, Inc. (ANNX) operates in the Biotechnology industry. The "About Annexon, Inc." section above gives a fuller picture of what the company does and how it earns money.
Does Annexon, Inc. pay a dividend?
We don't show a confirmed dividend yield for Annexon, Inc. here, so treat it as uncertain: before writing calls, check its current dividend and ex-dividend date with your broker — an approaching ex-dividend date can trigger early assignment on in-the-money short calls.
When does Annexon, Inc. next report earnings?
Annexon, Inc.'s next earnings are expected around November 9, 2026. Implied volatility usually climbs into the report and drops sharply afterwards (IV crush) — important for any options position held over the date.
Price trend
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Comparing ANNX with similar names can help you choose the best options strategy:
Company information
- Headquarters
- 1400 Sierra Point Parkway, Building C Suite 200, Brisbane, CA, 94005, United States
- Industry
- Biotechnology
- Employees
- 93
- CEO
- Mr. Douglas E. Love Esq., J.D.
- Phone
- 650 822 5500
- Website
- www.annexonbio.com
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Educational use only. Quotes are delayed ~15 minutes and nothing here is financial advice. Options trading involves substantial risk of loss. Privacy · Terms.