Best Options Strategy for LUNR
Looking for the best options strategy for Intuitive Machines (LUNR)? 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 LUNR option chain right now, and a simple map from your view on LUNR to the strategy that fits it. Model any of them in the calculator before you trade.
About LUNR
Intuitive Machines (LUNR) is a major company in lunar landers and space exploration services. Options traders on LUNR tend to watch NASA and government contracts, lunar mission outcomes and funding and dilution, since these can drive large moves in the share price.
LUNR for options traders
Intuitive Machines is a small-cap space-exploration name whose options carry structurally rich implied volatility, well above what you see in mature industrials. The reason is fundamental: as a lunar-lander and cislunar-services company, LUNR's value hinges on binary, headline-driven events rather than steady cash flows. The catalysts that move it are specific to the sector — NASA and other government contract awards, the success or failure of individual lunar landing missions, and financing news such as capital raises or share dilution that can reset the whole thesis overnight. That mix of mission risk and funding risk keeps IV elevated, and options activity clusters heavily around known mission windows and contract-decision dates.
Because IV runs hot, premium sellers are drawn to LUNR through covered calls and short strangles during quieter stretches, aiming to harvest the generous time decay while a mission or contract catalyst is still far off. Ahead of a landing attempt or an expected contract announcement, directional and volatility traders instead favour long calls, debit spreads, or straddles to play a binary outcome with defined cost. The key caveat is gap risk: a mission result or a surprise equity raise can send the shares far beyond what the option's theta or spread pricing implied, so naked short premium is dangerous here. Many traders prefer defined-risk structures, and covered-call writers should remember that a sharp upside gap can mean early assignment and a capped mission-day rally.
Today's top-scoring strategy for LUNR
Our engine ranks defined-risk strategies on the live LUNR 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× | CALL | $95 | $9.14 |
| Sell | 2× | CALL | $100 | $6.44 |
| Buy | 1× | CALL | $105 | $4.37 |
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% | |
|---|---|---|---|---|---|
| $125 | −$49 | −$41 | −$37 | −$34 | −$33 |
| $120 | −$37 | −$30 | −$27 | −$26 | −$27 |
| $115 | −$19 | −$16 | −$17 | −$19 | −$22 |
| $110 | $2 | −$3 | −$8 | −$13 | −$17 |
| $105 | $20 | $8 | −$1 | −$9 | −$14 |
| $100 | $26 | $11 | $0 | −$8 | −$14 |
| $95 | $16 | $4 | −$4 | −$11 | −$17 |
| $90 | −$8 | −$11 | −$15 | −$19 | −$22 |
| $85 | −$33 | −$29 | −$28 | −$29 | −$30 |
| $80 | −$51 | −$45 | −$41 | −$39 | −$38 |
| $75 | −$60 | −$56 | −$52 | −$49 | −$47 |
Illustrative example at LUNR's latest available price, computed with the same engine as the tool. Live option fills and the real IV skew refresh during US market hours.
Implied volatility
LUNR typically trades with elevated implied volatility, so its options carry richer premiums. Implied volatility drives option prices, so it is worth checking the live chain before you trade.
LUNR insider trading activity (SEC Form 4)
Open-market insider transactions at LUNR 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 |
|---|---|---|---|---|
| Ghaffarian Kamal Seyed | Sell | 18,664 | $311K | 2026-08-10 |
| Ghaffarian Kamal Seyed | Sell | 248,784 | $4.0M | 2026-08-10 |
| Ghaffarian Kamal Seyed | Sell | 47,303 | $624K | 2026-07-27 |
| Ghaffarian Kamal Seyed | Sell | 110,976 | $1.7M | 2026-07-13 |
| Ghaffarian Kamal Seyed | Sell | 47,010 | $978K | 2026-06-29 |
| Ghaffarian Kamal Seyed | Sell | 94,899 | $1.9M | 2026-06-29 |
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
LUNR's next earnings report is due around November 10, 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
- $2.9B
- Beta (vs market)
- 1.83
- 52-week range
- $7.78–$46.75
- Short interest
- 27.1% of float · 3.7 days to cover
With 27.1% of LUNR's float sold short, squeeze and gap risk are elevated — one reason its options can stay expensive.
How to choose an options strategy for LUNR
Start with your outlook on LUNR, 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 LUNR 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 LUNR in the free calculator →
Frequently asked questions
What is the best options strategy for LUNR?
It depends on your outlook. Bullish traders often use a long call or bull call spread on LUNR; 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 LUNR options liquid enough to trade?
Intuitive Machines (LUNR) 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 LUNR options?
Buying a single LUNR 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 LUNR or any security. Do your own research.
What does Intuitive Machines do?
Intuitive Machines (LUNR) operates in the Aerospace & Defense industry. The "About Intuitive Machines" section above gives a fuller picture of what the company does and how it earns money.
Does Intuitive Machines pay a dividend?
We don't show a confirmed dividend yield for Intuitive Machines 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 Intuitive Machines next report earnings?
Intuitive Machines's next earnings are expected around November 10, 2026. Implied volatility usually climbs into the report and drops sharply afterwards (IV crush) — important for any options position held over the date.
Tickers related to LUNR
Comparing LUNR with similar names can help you choose the best options strategy:
Company information
- Headquarters
- 13467 Columbia Shuttle Street, Houston, TX, 77059, United States
- Industry
- Aerospace & Defense
- Employees
- 525
- CEO
- Mr. Stephen J. Altemus
- Phone
- 281 520 3703
- Website
- www.intuitivemachines.com
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