ASHR Long Put Strategy
ASHR (Xtrackers Harvest CSI 300 China A-Shares ETF), in the Financial Services sector, (Asset Management industry), listed on AMEX.
The Xtrackers Harvest CSI 300 China A-Shares ETF (the “Fund”) seeks investment results that correspond generally to the performance, before fees and expenses, of the CSI 300 Index (the “Underlying Index”).
ASHR (Xtrackers Harvest CSI 300 China A-Shares ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $2.66B, a beta of 0.73 versus the broader market, a 52-week range of 26.29-36.99, average daily share volume of 6.1M, a public-listing history dating back to 2013. These structural characteristics shape how ASHR etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.73 places ASHR roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. ASHR pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a long put on ASHR?
A long put buys downside exposure with a fixed maximum loss equal to the premium paid; profit accrues if the underlying closes below the strike minus premium at expiration.
Current ASHR snapshot
As of May 15, 2026, spot at $35.48, ATM IV 21.15%, IV rank 28.25%, expected move 6.06%. The long put on ASHR below is built from the same end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 28-day expiry.
Why this long put structure on ASHR specifically: ASHR IV at 21.15% is on the cheap side of its 1-year range, which favors premium-buying structures like a ASHR long put, with a market-implied 1-standard-deviation move of approximately 6.06% (roughly $2.15 on the underlying). The 28-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated ASHR expiries trade a higher absolute premium for lower per-day decay. Position sizing on ASHR should anchor to the underlying notional of $35.48 per share and to the trader's directional view on ASHR etf.
ASHR long put setup
The ASHR long put below is built from the end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With ASHR near $35.48, the first option leg uses a $35.50 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ASHR chain at a 28-day expiry; the cross-strike IV skew is reflected directly in the per-leg values rather than approximated. Quantity sizing assumes one contract per option leg (or 100 ASHR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $35.50 | $0.85 |
ASHR long put risk and reward
- Net Premium / Debit
- -$84.50
- Max Profit (per contract)
- $3,464.50
- Max Loss (per contract)
- -$84.50
- Breakeven(s)
- $34.66
- Risk / Reward Ratio
- 41.000
Max profit equals the strike minus premium times 100 (reached at zero); max loss equals the premium times 100. Breakeven is strike minus premium.
ASHR long put payoff curve
Modeled P&L at expiration across a range of underlying prices for the long put on ASHR. Each row is one sampled price point from the computed payoff curve; the full curve uses 200 price points internally before being summarized into 10 rows here.
| Underlying Price | % From Spot | P&L at Expiration |
|---|---|---|
| $0.01 | -100.0% | +$3,464.50 |
| $7.85 | -77.9% | +$2,680.13 |
| $15.70 | -55.8% | +$1,895.76 |
| $23.54 | -33.6% | +$1,111.38 |
| $31.38 | -11.5% | +$327.01 |
| $39.23 | +10.6% | -$84.50 |
| $47.07 | +32.7% | -$84.50 |
| $54.92 | +54.8% | -$84.50 |
| $62.76 | +76.9% | -$84.50 |
| $70.60 | +99.0% | -$84.50 |
When traders use long put on ASHR
Long puts on ASHR hedge an existing long ASHR etf position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying ASHR exposure being hedged.
ASHR thesis for this long put
The market-implied 1-standard-deviation range for ASHR extends from approximately $33.33 on the downside to $37.63 on the upside. A ASHR long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long ASHR position with one put per 100 shares held. Current ASHR IV rank near 28.25% sits in the lower third of its 1-year distribution, where IV often re-expands toward the mean; this favors premium-buying structures and disadvantages premium-selling structures on ASHR at 21.15%. As a Financial Services name, ASHR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ASHR-specific events.
ASHR long put positions are structurally bearish; the modeled P&L assumes European-style exercise at expiration and ignores early assignment, transaction costs, dividends paid before expiry on the stock leg (when present), and the bid-ask spread on the listed chain. ASHR positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ASHR alongside the broader basket even when ASHR-specific fundamentals are unchanged. Long-premium structures like a long put on ASHR are particularly exposed to IV-crush risk through scheduled events (earnings, FDA decisions, central-bank meetings) where IV typically contracts post-event regardless of the directional outcome. Always rebuild the position from current ASHR chain quotes before placing a trade.
Frequently asked questions
- What is a long put on ASHR?
- A long put on ASHR is the long put strategy applied to ASHR (etf). The strategy is structurally bearish: A long put buys downside exposure with a fixed maximum loss equal to the premium paid; profit accrues if the underlying closes below the strike minus premium at expiration. With ASHR etf trading near $35.48, the strikes shown on this page are snapped to the nearest listed ASHR chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are ASHR long put max profit and max loss calculated?
- Max profit equals the strike minus premium times 100 (reached at zero); max loss equals the premium times 100. Breakeven is strike minus premium. For the ASHR long put priced from the end-of-day chain at a 30-day expiry (ATM IV 21.15%), the computed maximum profit is $3,464.50 per contract and the computed maximum loss is -$84.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a ASHR long put?
- The breakeven for the ASHR long put priced on this page is roughly $34.66 at expiration, derived from end-of-day chain premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The current ASHR market-implied 1-standard-deviation expected move is approximately 6.06%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a long put on ASHR?
- Long puts on ASHR hedge an existing long ASHR etf position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying ASHR exposure being hedged.
- How does current ASHR implied volatility affect this long put?
- ASHR ATM IV is at 21.15% with IV rank near 28.25%, which is on the low end of its 1-year range. Premium-buying structures (long call, long put, debit spreads) are relatively cheap in this regime; premium-selling structures collect less credit per unit risk.