CHPX Long Put Strategy
CHPX (Global X - AI Semiconductor & Quantum ETF), in the Financial Services sector, (Asset Management - Global industry), listed on NASDAQ.
The Global X AI Semiconductor & Quantum ETF, identified by the ticker CHPX, is structured to mirror the financial performance—both capital gains and income—of the Global X AI Semiconductor & Quantum Index. Its primary goal is to replicate these results before any management fees or operational expenses are subtracted.
CHPX (Global X - AI Semiconductor & Quantum ETF) trades in the Financial Services sector, specifically Asset Management - Global, with a market capitalization of approximately $244.8M, a beta of 3.38 versus the broader market, a 52-week range of 49-112, average daily share volume of 90K, a public-listing history dating back to 2025. These structural characteristics shape how CHPX etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 3.38 indicates CHPX has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. CHPX pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a long put on CHPX?
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.
CHPX snapshot
As of September 29, 2026, spot at $101.22, ATM IV 35.00%, expected move 10.03%. The long put on CHPX below is built from the September 29, 2026 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 CHPX specifically: IV rank is unavailable in the current snapshot, so regime-based timing for CHPX is inferred from ATM IV at 35.00% alone, with a market-implied 1-standard-deviation move of approximately 10.03% (roughly $10.16 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 CHPX expiries trade a higher absolute premium for lower per-day decay. Position sizing on CHPX should anchor to the underlying notional of $101.22 per share and to the trader's directional view on CHPX etf.
CHPX long put setup
The CHPX long put below is built from the September 29, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With CHPX at $101.22 on that close, the first option leg uses a $100.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CHPX 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 CHPX shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $100.00 | $2.28 |
CHPX long put risk and reward
- Net Premium / Debit
- -$227.50
- Max Profit (per contract)
- $9,771.50
- Max Loss (per contract)
- -$227.50
- Breakeven(s)
- $97.73
- Risk / Reward Ratio
- 42.952
Max profit equals the strike minus premium times 100 (reached at zero); max loss equals the premium times 100. Breakeven is strike minus premium.
CHPX long put payoff curve
Modeled P&L at expiration across a range of underlying prices for the long put on CHPX. 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% | +$9,771.50 |
| $22.39 | -77.9% | +$7,533.58 |
| $44.77 | -55.8% | +$5,295.66 |
| $67.15 | -33.7% | +$3,057.74 |
| $89.53 | -11.6% | +$819.82 |
| $111.91 | +10.6% | -$227.50 |
| $134.29 | +32.7% | -$227.50 |
| $156.66 | +54.8% | -$227.50 |
| $179.04 | +76.9% | -$227.50 |
| $201.42 | +99.0% | -$227.50 |
When traders use long put on CHPX
Long puts on CHPX hedge an existing long CHPX etf position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying CHPX exposure being hedged.
CHPX thesis for this long put
The market-implied 1-standard-deviation range for CHPX extends from approximately $91.06 on the downside to $111.38 on the upside. A CHPX long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long CHPX position with one put per 100 shares held. As a Financial Services name, CHPX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CHPX-specific events.
CHPX 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. CHPX positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CHPX alongside the broader basket even when CHPX-specific fundamentals are unchanged. Long-premium structures like a long put on CHPX 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 CHPX chain quotes before placing a trade.
Frequently asked questions
- What is a long put on CHPX?
- A long put on CHPX is the long put strategy applied to CHPX (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 CHPX etf at $101.22 on the September 29, 2026 close, the strikes shown on this page are snapped to the nearest listed CHPX chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are CHPX 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 CHPX long put priced from the September 29, 2026 end-of-day chain at a 30-day expiry (ATM IV 35.00%), the computed maximum profit is $9,771.50 per contract and the computed maximum loss is -$227.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a CHPX long put?
- The breakeven for the CHPX long put priced on this page is roughly $97.73 at expiration, derived from the September 29, 2026 end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The CHPX market-implied 1-standard-deviation expected move in the same options snapshot is approximately 10.03%; 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 CHPX?
- Long puts on CHPX hedge an existing long CHPX etf position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying CHPX exposure being hedged.
- How does current CHPX implied volatility affect this long put?
- Current CHPX ATM IV is 35.00%; IV rank context is unavailable in the current snapshot.