Best Options Strategy for NRIX
Looking for the best options strategy for Nurix Therapeutics, Inc. (NRIX)? 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 NRIX option chain right now, and a simple map from your view on NRIX to the strategy that fits it. Model any of them in the calculator before you trade.
About NRIX
Nurix Therapeutics, Inc. (NRIX) is a major company in Biotechnology. Options traders on NRIX tend to watch , since these can drive large moves in the share price.
About Nurix Therapeutics, Inc.
Nurix Therapeutics is a clinical-stage biopharmaceutical company developing small molecule and antibody drugs aimed at cancer, inflammatory diseases, and other conditions. Its pipeline includes several oral drug candidates at early to mid-stage testing: NX-5948, a BTK degrader in Phase 2 trials for blood cancers and autoimmune disorders; NX-2127, another BTK degrader in Phase 1 development for relapsed or refractory B-cell malignancies; NX-1607, a CBL-B inhibitor in Phase 1 testing for immuno-oncology applications; and NX-0479/GS-6791, an IRAK4 degrader being studied for rheumatoid arthritis and inflammatory conditions. The company has structured its development work around a protein degradation platform targeting cellular pathways involved in disease.
The company operates through partnerships with major pharmaceutical firms. Nurix has signed collaborative agreements with Gilead Sciences, Sanofi, and Pfizer for joint development and commercialization of multiple candidates across its portfolio. These arrangements provide development funding and leverage the partners' scale for eventual market distribution. Founded in 2009 and rebranded as Nurix Therapeutics in 2018, the company…
Today's top-scoring strategy for NRIX
Our engine ranks defined-risk strategies on the live NRIX 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 | $21 | $1.40 |
| Sell | 1× | PUT | $21 | $1.40 |
| Sell | 1× | CALL | $30 | $1.50 |
| Buy | 1× | CALL | $31 | $0.65 |
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% | |
|---|---|---|---|---|---|
| $34 | $15 | $19 | $23 | $26 | $28 |
| $32 | $24 | $27 | $30 | $32 | $33 |
| $31 | $35 | $36 | $37 | $38 | $39 |
| $30 | $46 | $45 | $45 | $45 | $45 |
| $28 | $56 | $54 | $52 | $52 | $51 |
| $27 | $66 | $62 | $60 | $58 | $57 |
| $26 | $73 | $69 | $66 | $64 | $62 |
| $24 | $79 | $75 | $72 | $69 | $67 |
| $23 | $82 | $79 | $77 | $74 | $72 |
| $22 | $84 | $82 | $80 | $78 | $76 |
| $20 | $85 | $84 | $82 | $81 | $79 |
Live scan from 2026-08-14 · quotes delayed ~15 minutes
Historical backtest: how a Iron Condor on NRIX would have performed
We approximated a Iron Condor on NRIX, 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 NRIX 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
NRIX is currently trading with high implied volatility, which makes its options expensive — and attractive to sell. On the options we scanned that was around 74% implied volatility, and higher implied volatility means richer premiums and wider expected moves.
Options on NRIX currently price in about 74% implied volatility, versus roughly 38% 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.
NRIX's IV Rank is 8/100: implied volatility sits 8% of the way between its 15-day low (71%) and high (117%), and is above 13% 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 ±$6.13 (±23%) in NRIX by 2026-09-18 — a range of roughly $20.75 to $33.01. Strikes inside that band hold most of the premium and see most of the action.
Across strikes, downside puts on NRIX trade at a higher implied volatility than upside calls — the market is paying up for crash protection. That skew favours selling put spreads or buying calls over symmetric trades.
NRIX options chain highlights: open interest, volume and skew
The live NRIX options chain shows a put/call open-interest ratio of 0.01 (bullish-leaning (more calls)), with at-the-money implied volatility near 116.2%. Open interest clusters at the $30 call — a common resistance "wall" — and the $21 put, a support "wall": the strikes option writers are most exposed to into expiration.
Snapshot of open interest, volume and implied volatility for the nearest scanned expiration — context, not a trading signal.
NRIX insider trading activity (SEC Form 4)
Open-market insider transactions at NRIX 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 |
|---|---|---|---|---|
| Hansen Gwenn | Sell | 4,356 | $109K | 2026-08-05 |
| Hansen Gwenn | Sell | 2,611 | $64K | 2026-08-04 |
| Hansen Gwenn | Sell | 1,500 | $36K | 2026-08-04 |
| van Houte Hans | Sell | 2,967 | $73K | 2026-08-04 |
| van Houte Hans | Sell | 1,794 | $43K | 2026-08-04 |
| Ring Christine | Sell | 16,589 | $382K | 2026-08-03 |
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
NRIX's next earnings report is due around October 8, 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
- $2.6B
- Beta (vs market)
- 1.79
- 52-week range
- $8.20–$25.40 (100% up the range)
- Short interest
- 17.5% of float · 7.7 days to cover
With 17.5% of NRIX's float sold short, squeeze and gap risk are elevated — one reason its options can stay expensive.
Other strong setups for NRIX
If your view on NRIX differs, these also scored well in the latest scan:
- Iron Butterfly (POP 71%)
- Box Spread (POP 53%)
- Jelly Roll (POP 54%) Experienced
How to choose an options strategy for NRIX
Start with your outlook on NRIX, 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 NRIX 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 NRIX in the free calculator →
Frequently asked questions
What is the best options strategy for NRIX?
It depends on your outlook. Bullish traders often use a long call or bull call spread on NRIX; 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 NRIX options liquid enough to trade?
Nurix Therapeutics, Inc. (NRIX) 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 NRIX options?
Buying a single NRIX 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 NRIX or any security. Do your own research.
What does Nurix Therapeutics, Inc. do?
Nurix Therapeutics, Inc. (NRIX) operates in the Biotechnology industry. The "About Nurix Therapeutics, Inc." section above gives a fuller picture of what the company does and how it earns money.
Does Nurix Therapeutics, Inc. pay a dividend?
We don't show a confirmed dividend yield for Nurix Therapeutics, 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 Nurix Therapeutics, Inc. next report earnings?
Nurix Therapeutics, Inc.'s next earnings are expected around October 8, 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 NRIX with similar names can help you choose the best options strategy:
Company information
- Headquarters
- 1600 Sierra Point Parkway, Brisbane, CA, 94005, United States
- Industry
- Biotechnology
- Employees
- 317
- CEO
- Dr. Arthur T. Sands M.D., Ph.D.
- Phone
- 415 660 5320
- Website
- www.nurixtx.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.