How are AZYY 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 AZYY long put priced from the end-of-day chain at a 30-day expiry (ATM IV 53.80%), the computed maximum profit is $1,403.00 per contract and the computed maximum loss is -$96.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a AZYY long put?

The breakeven for the AZYY long put priced on this page is roughly $14.04 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 AZYY market-implied 1-standard-deviation expected move is approximately 15.42%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current AZYY implied volatility affect this long put?

AZYY ATM IV is at 53.80% with IV rank near 4.43%, 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.

AZYY Long Put Strategy

AZYY (GraniteShares YieldBOOST AMZN ETF), in the Financial Services sector, (Asset Management - Leveraged industry), listed on NASDAQ.

The GraniteShares YieldBOOST AMZN ETF (AZYY) is primarily designed to generate income equivalent to twice (200%) the proceeds typically derived from selling options on Amazon (AMZN). This is achieved by writing options contracts on specialized leveraged exchange-traded funds (ETFs) that are constructed to deliver two times (200%) the daily performance of the underlying Amazon stock. As a secondary goal, the Fund aims to capture the performance of these amplified ETFs, though any potential investment gains are subject to a specified maximum. Additionally, the Fund reserves the right to implement measures intended to protect against downside risk, which could consequently influence the overall net income earned.

AZYY (GraniteShares YieldBOOST AMZN ETF) trades in the Financial Services sector, specifically Asset Management - Leveraged, with a market capitalization of approximately $456,697, a beta of 0.99 versus the broader market, a 52-week range of 14.95-25.32, average daily share volume of 3K, a public-listing history dating back to 2025. These structural characteristics shape how AZYY etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.99 places AZYY roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. AZYY pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a long put on AZYY?

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 AZYY snapshot

As of June 30, 2026, spot at $15.32, ATM IV 53.80%, IV rank 4.43%, expected move 15.42%. The long put on AZYY 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 17-day expiry.

Why this long put structure on AZYY specifically: AZYY IV at 53.80% is on the cheap side of its 1-year range, which favors premium-buying structures like a AZYY long put, with a market-implied 1-standard-deviation move of approximately 15.42% (roughly $2.36 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated AZYY expiries trade a higher absolute premium for lower per-day decay. Position sizing on AZYY should anchor to the underlying notional of $15.32 per share and to the trader's directional view on AZYY etf.

AZYY long put setup

The AZYY 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 AZYY near $15.32, the first option leg uses a $15.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AZYY chain at a 17-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 AZYY shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Put	$15.00	$0.96

AZYY long put risk and reward

Net Premium / Debit: -$96.00
Max Profit (per contract): $1,403.00
Max Loss (per contract): -$96.00
Breakeven(s): $14.04
Risk / Reward Ratio: 14.615

Max profit equals the strike minus premium times 100 (reached at zero); max loss equals the premium times 100. Breakeven is strike minus premium.

AZYY long put payoff curve

Modeled P&L at expiration across a range of underlying prices for the long put on AZYY. 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.

P&L at expiration across the modeled underlying-price range. Green shading marks profitable regions, red shading marks loss regions. Dotted purple verticals mark breakevens; the solid dark vertical marks current spot.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-99.9%	+$1,403.00
$3.40	-77.8%	+$1,064.38
$6.78	-55.7%	+$725.75
$10.17	-33.6%	+$387.13
$13.55	-11.5%	+$48.51
$16.94	+10.6%	-$96.00
$20.33	+32.7%	-$96.00
$23.71	+54.8%	-$96.00
$27.10	+76.9%	-$96.00
$30.49	+99.0%	-$96.00

When traders use long put on AZYY

Long puts on AZYY hedge an existing long AZYY etf position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying AZYY exposure being hedged.

AZYY thesis for this long put

The market-implied 1-standard-deviation range for AZYY extends from approximately $12.96 on the downside to $17.68 on the upside. A AZYY long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long AZYY position with one put per 100 shares held. Current AZYY IV rank near 4.43% 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 AZYY at 53.80%. As a Financial Services name, AZYY options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AZYY-specific events.

AZYY 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. AZYY positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move AZYY alongside the broader basket even when AZYY-specific fundamentals are unchanged. Long-premium structures like a long put on AZYY 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 AZYY chain quotes before placing a trade.

Frequently asked questions

What is a long put on AZYY?: A long put on AZYY is the long put strategy applied to AZYY (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 AZYY etf trading near $15.32, the strikes shown on this page are snapped to the nearest listed AZYY chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are AZYY 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 AZYY long put priced from the end-of-day chain at a 30-day expiry (ATM IV 53.80%), the computed maximum profit is $1,403.00 per contract and the computed maximum loss is -$96.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a AZYY long put?: The breakeven for the AZYY long put priced on this page is roughly $14.04 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 AZYY market-implied 1-standard-deviation expected move is approximately 15.42%; 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 AZYY?: Long puts on AZYY hedge an existing long AZYY etf position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying AZYY exposure being hedged.
How does current AZYY implied volatility affect this long put?: AZYY ATM IV is at 53.80% with IV rank near 4.43%, 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.