Best Options Strategy for OLMA
Looking for the best options strategy for Olema Pharmaceuticals, Inc. (OLMA)? 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 OLMA option chain right now, and a simple map from your view on OLMA to the strategy that fits it. Model any of them in the calculator before you trade.
About OLMA
Olema Pharmaceuticals, Inc. (OLMA) is a major company in Biotechnology. Options traders on OLMA tend to watch , since these can drive large moves in the share price.
About Olema Pharmaceuticals, Inc.
Olema Pharmaceuticals is a clinical-stage biotech company developing treatments for women's cancers, particularly breast cancer. Its main focus is palazestrant, a drug that blocks and degrades the estrogen receptor, currently being tested in Phase 3 trials for hormone receptor-positive breast cancers that have spread or progressed. The company is also exploring palazestrant in combination with other cancer drugs, including CDK4/6 inhibitors and a PI3K inhibitor, in Phase 1b/2 studies. Beyond palazestrant, Olema is working on OP-3136, an oral medication targeting KAT6, which entered Phase 1 testing for breast and solid tumors. Founded in 2006 and headquartered in San Francisco, the company was originally called CombiThera before rebranding in 2009.
As a clinical-stage company, Olema does not yet generate revenue from approved products on the market. The company's business model depends on advancing its drug candidates through clinical development and securing funding through capital raises and partnerships. Its addressable market centers on hormone receptor-positive breast cancer, which represents a significant patient population with ongoing treatment needs. Success hinges on…
Today's top-scoring strategy for OLMA
Our engine ranks defined-risk strategies on the live OLMA 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 | $11 | $0.01 |
| Sell | 1× | PUT | $12 | $0.13 |
| Sell | 1× | CALL | $13 | $0.12 |
| Buy | 1× | CALL | $14 | $0.01 |
Simulation
Forward simulation of 6,000 lognormal price paths to expiration — not a historical backtest.
Illustrative example at OLMA'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
OLMA is currently trading with moderate implied volatility, broadly in line with other large-cap stocks. On the options we scanned that was around 32% implied volatility, and higher implied volatility means richer premiums and wider expected moves.
Options on OLMA currently price in about 32% implied volatility, versus roughly 80% the stock has actually realised over the past month. That makes options relatively cheap — an edge for strategies that buy premium, such as long calls, long puts and debit spreads.
Off that volatility, the options market is pricing a move of about ±$0.79 (±6%) in OLMA by 2026-07-17 — a range of roughly $11.67 to $13.24. Strikes inside that band hold most of the premium and see most of the action.
Across strikes, downside puts on OLMA 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.
Earnings & IV crush
OLMA's next earnings report is due around August 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
- $1.1B
- Beta (vs market)
- 2.00
- 52-week range
- $4.37–$36.26 (25% up the range)
- Short interest
- 17.9% of float · 9.0 days to cover
With 17.9% of OLMA's float sold short, squeeze and gap risk are elevated — one reason its options can stay expensive.
How to choose an options strategy for OLMA
Start with your outlook on OLMA, 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 OLMA stays between two strikes, or write a covered call against shares you already own.
Iron Condor → Covered Call →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 OLMA in the free calculator →
Frequently asked questions
What is the best options strategy for OLMA?
It depends on your outlook. Bullish traders often use a long call or bull call spread on OLMA; 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 OLMA options liquid enough to trade?
Olema Pharmaceuticals, Inc. (OLMA) 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 OLMA options?
Buying a single OLMA 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 OLMA or any security. Do your own research.
What does Olema Pharmaceuticals, Inc. do?
Olema Pharmaceuticals, Inc. (OLMA) operates in the Biotechnology industry. The "About Olema Pharmaceuticals, Inc." section above gives a fuller picture of what the company does and how it earns money.
Does Olema Pharmaceuticals, Inc. pay a dividend?
Olema Pharmaceuticals, Inc. does not currently pay a dividend, so there is no ex-dividend assignment risk to plan around for options strategies.
When does Olema Pharmaceuticals, Inc. next report earnings?
Olema Pharmaceuticals, Inc.'s next earnings are expected around August 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 OLMA
Comparing OLMA with similar names can help you choose the best options strategy:
Company information
- Headquarters
- 780 Brannan Street, San Francisco, CA, 94103, United States
- Industry
- Biotechnology
- Employees
- 137
- Phone
- 415 651 3316
- Website
- olema.com
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