How are MSFX 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 MSFX long put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 49.60%), the computed maximum profit is $2,339.00 per contract and the computed maximum loss is -$160.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a MSFX long put?

The breakeven for the MSFX long put priced on this page is roughly $23.40 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 MSFX market-implied 1-standard-deviation expected move in the same options snapshot is approximately 14.22%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current MSFX implied volatility affect this long put?

MSFX ATM IV is at 49.60% with IV rank near 5.47%, 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.

MSFX Long Put Strategy

MSFX (T-Rex 2X Long Microsoft Daily Target ETF), in the Financial Services sector, (Asset Management industry), listed on CBOE.

MSFX is designed for making bullish bets on the stock price of Microsoft Corp. through swap agreements. The objective is to obtain daily leveraged exposure equivalent to 200% of the fund's net assets. To maintain this exposure, daily rebalancing is performed to make adjustments in response to MSFT's daily price movements. As a geared product, the fund is intended as a short-term tactical tool, rather than as a long-term investment vehicle. As a result, returns may deviate from the expected 2x if held for longer than a single day due to compounding. This strategy is high-risk and does not include a defensive position as part of its overall process.

MSFX (T-Rex 2X Long Microsoft Daily Target ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $49.6M, a beta of 2.70 versus the broader market, a 52-week range of 12.9-39.37, average daily share volume of 302K, a public-listing history dating back to 2024. These structural characteristics shape how MSFX etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 2.70 indicates MSFX has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.

What is a long put on MSFX?

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.

MSFX snapshot

As of August 14, 2026, spot at $24.69, ATM IV 49.60%, IV rank 5.47%, expected move 14.22%. The long put on MSFX 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 MSFX specifically: MSFX IV at 49.60% is on the cheap side of its 1-year range, which favors premium-buying structures like a MSFX long put, with a market-implied 1-standard-deviation move of approximately 14.22% (roughly $3.51 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 MSFX expiries trade a higher absolute premium for lower per-day decay. Position sizing on MSFX should anchor to the underlying notional of $24.69 per share and to the trader's directional view on MSFX etf.

MSFX long put setup

The MSFX 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 MSFX at $24.69 on that close, the first option leg uses a $25.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed MSFX 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 MSFX shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Put	$25.00	$1.60

MSFX long put risk and reward

Net Premium / Debit: -$160.00
Max Profit (per contract): $2,339.00
Max Loss (per contract): -$160.00
Breakeven(s): $23.40
Risk / Reward Ratio: 14.619

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

MSFX long put payoff curve

Modeled P&L at expiration across a range of underlying prices for the long put on MSFX. 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	-100.0%	+$2,339.00
$5.47	-77.9%	+$1,793.20
$10.93	-55.7%	+$1,247.40
$16.38	-33.6%	+$701.60
$21.84	-11.5%	+$155.80
$27.30	+10.6%	-$160.00
$32.76	+32.7%	-$160.00
$38.22	+54.8%	-$160.00
$43.67	+76.9%	-$160.00
$49.13	+99.0%	-$160.00

When traders use long put on MSFX

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

MSFX thesis for this long put

The market-implied 1-standard-deviation range for MSFX extends from approximately $21.18 on the downside to $28.20 on the upside. A MSFX long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long MSFX position with one put per 100 shares held. Current MSFX IV rank near 5.47% 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 MSFX at 49.60%. As a Financial Services name, MSFX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to MSFX-specific events.

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

Frequently asked questions

What is a long put on MSFX?: A long put on MSFX is the long put strategy applied to MSFX (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 MSFX etf at $24.69 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed MSFX chain strike and the premiums come straight from that session's bid/ask midpoint.
How are MSFX 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 MSFX long put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 49.60%), the computed maximum profit is $2,339.00 per contract and the computed maximum loss is -$160.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a MSFX long put?: The breakeven for the MSFX long put priced on this page is roughly $23.40 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 MSFX market-implied 1-standard-deviation expected move in the same options snapshot is approximately 14.22%; 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 MSFX?: Long puts on MSFX hedge an existing long MSFX etf position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying MSFX exposure being hedged.
How does current MSFX implied volatility affect this long put?: MSFX ATM IV is at 49.60% with IV rank near 5.47%, 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.