KOID Long Put Strategy
KOID (KraneShares Global Humanoid Robotics and Embodied Intelligence Index ETF), in the Financial Services sector, (Asset Management - Global industry), listed on NASDAQ.
Under normal market conditions, this fund dedicates a minimum of 80% of its total assets to investments directly included in its benchmark index or to those with similar economic characteristics. The underlying index is designed to monitor the equity performance of companies primarily exposed to Asian markets, specifically those classified by FactSet within sub-industries related to robotics and/or artificial intelligence (AI). Please note that this fund operates as a non-diversified investment vehicle.
KOID (KraneShares Global Humanoid Robotics and Embodied Intelligence Index ETF) trades in the Financial Services sector, specifically Asset Management - Global, with a market capitalization of approximately $316.9M, a beta of 2.08 versus the broader market, a 52-week range of 27.74-43.32, average daily share volume of 157K, a public-listing history dating back to 2025. These structural characteristics shape how KOID etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.08 indicates KOID has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. KOID pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a long put on KOID?
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.
KOID snapshot
As of August 14, 2026, spot at $39.32, ATM IV 30.20%, expected move 8.66%. The long put on KOID below is built from the August 14, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.
Why this long put structure on KOID specifically: IV rank is unavailable in the current snapshot, so regime-based timing for KOID is inferred from ATM IV at 30.20% alone, with a market-implied 1-standard-deviation move of approximately 8.66% (roughly $3.40 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated KOID expiries trade a higher absolute premium for lower per-day decay. Position sizing on KOID should anchor to the underlying notional of $39.32 per share and to the trader's directional view on KOID etf.
KOID long put setup
The KOID long put below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With KOID at $39.32 on that close, the first option leg uses a $39.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed KOID chain at a 35-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 KOID shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $39.00 | $1.65 |
KOID long put risk and reward
- Net Premium / Debit
- -$165.00
- Max Profit (per contract)
- $3,734.00
- Max Loss (per contract)
- -$165.00
- Breakeven(s)
- $37.35
- Risk / Reward Ratio
- 22.630
Max profit equals the strike minus premium times 100 (reached at zero); max loss equals the premium times 100. Breakeven is strike minus premium.
KOID long put payoff curve
Modeled P&L at expiration across a range of underlying prices for the long put on KOID. 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% | +$3,734.00 |
| $8.70 | -77.9% | +$2,864.72 |
| $17.40 | -55.8% | +$1,995.45 |
| $26.09 | -33.7% | +$1,126.17 |
| $34.78 | -11.5% | +$256.89 |
| $43.47 | +10.6% | -$165.00 |
| $52.17 | +32.7% | -$165.00 |
| $60.86 | +54.8% | -$165.00 |
| $69.55 | +76.9% | -$165.00 |
| $78.24 | +99.0% | -$165.00 |
When traders use long put on KOID
Long puts on KOID hedge an existing long KOID etf position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying KOID exposure being hedged.
KOID thesis for this long put
The market-implied 1-standard-deviation range for KOID extends from approximately $35.92 on the downside to $42.72 on the upside. A KOID long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long KOID position with one put per 100 shares held. As a Financial Services name, KOID options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to KOID-specific events.
KOID 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. KOID positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move KOID alongside the broader basket even when KOID-specific fundamentals are unchanged. Long-premium structures like a long put on KOID 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 KOID chain quotes before placing a trade.
Frequently asked questions
- What is a long put on KOID?
- A long put on KOID is the long put strategy applied to KOID (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 KOID etf at $39.32 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed KOID chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are KOID 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 KOID long put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 30.20%), the computed maximum profit is $3,734.00 per contract and the computed maximum loss is -$165.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a KOID long put?
- The breakeven for the KOID long put priced on this page is roughly $37.35 at expiration, derived from the August 14, 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 KOID market-implied 1-standard-deviation expected move in the same options snapshot is approximately 8.66%; 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 KOID?
- Long puts on KOID hedge an existing long KOID etf position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying KOID exposure being hedged.
- How does current KOID implied volatility affect this long put?
- Current KOID ATM IV is 30.20%; IV rank context is unavailable in the current snapshot.