SILJ Long Put Strategy
SILJ (Amplify Junior Silver Miners ETF), in the Financial Services sector, (Asset Management industry), listed on AMEX.
The Amplify Junior Silver Miners ETF (SILJ) seeks investment results that generally correlate (before fees and expenses) to the total return performance of the Nasdaq Junior Silver Miners Index. SILJ tracks the performance of companies engaged in the silver mining industry that derive the majority of their revenues from silver mining, global silver production, or exploration and development activities related to new silver production.
SILJ (Amplify Junior Silver Miners ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $3.90B, a beta of 1.18 versus the broader market, a 52-week range of 11.71-41.1, average daily share volume of 6.2M, a public-listing history dating back to 2012. These structural characteristics shape how SILJ etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.18 places SILJ roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. SILJ pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a long put on SILJ?
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 SILJ snapshot
As of May 15, 2026, spot at $30.24, ATM IV 58.30%, IV rank 46.61%, expected move 16.72%. The long put on SILJ 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 SILJ specifically: SILJ IV at 58.30% is mid-range versus its 1-year history, so strategy selection should anchor more to the directional thesis than to the IV regime, with a market-implied 1-standard-deviation move of approximately 16.72% (roughly $5.05 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 SILJ expiries trade a higher absolute premium for lower per-day decay. Position sizing on SILJ should anchor to the underlying notional of $30.24 per share and to the trader's directional view on SILJ etf.
SILJ long put setup
The SILJ 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 SILJ near $30.24, the first option leg uses a $30.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed SILJ 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 SILJ shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $30.00 | $1.74 |
SILJ long put risk and reward
- Net Premium / Debit
- -$173.50
- Max Profit (per contract)
- $2,825.50
- Max Loss (per contract)
- -$173.50
- Breakeven(s)
- $28.27
- Risk / Reward Ratio
- 16.285
Max profit equals the strike minus premium times 100 (reached at zero); max loss equals the premium times 100. Breakeven is strike minus premium.
SILJ long put payoff curve
Modeled P&L at expiration across a range of underlying prices for the long put on SILJ. 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% | +$2,825.50 |
| $6.70 | -77.9% | +$2,156.99 |
| $13.38 | -55.8% | +$1,488.47 |
| $20.07 | -33.6% | +$819.96 |
| $26.75 | -11.5% | +$151.45 |
| $33.44 | +10.6% | -$173.50 |
| $40.12 | +32.7% | -$173.50 |
| $46.81 | +54.8% | -$173.50 |
| $53.49 | +76.9% | -$173.50 |
| $60.18 | +99.0% | -$173.50 |
When traders use long put on SILJ
Long puts on SILJ hedge an existing long SILJ etf position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying SILJ exposure being hedged.
SILJ thesis for this long put
The market-implied 1-standard-deviation range for SILJ extends from approximately $25.19 on the downside to $35.29 on the upside. A SILJ long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long SILJ position with one put per 100 shares held. Current SILJ IV rank near 46.61% is mid-range against its 1-year distribution, so the IV signal is neutral; the long put thesis on SILJ should anchor more to the directional view and the expected-move geometry. As a Financial Services name, SILJ options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to SILJ-specific events.
SILJ 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. SILJ positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move SILJ alongside the broader basket even when SILJ-specific fundamentals are unchanged. Long-premium structures like a long put on SILJ 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 SILJ chain quotes before placing a trade.
Frequently asked questions
- What is a long put on SILJ?
- A long put on SILJ is the long put strategy applied to SILJ (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 SILJ etf trading near $30.24, the strikes shown on this page are snapped to the nearest listed SILJ chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are SILJ 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 SILJ long put priced from the end-of-day chain at a 30-day expiry (ATM IV 58.30%), the computed maximum profit is $2,825.50 per contract and the computed maximum loss is -$173.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a SILJ long put?
- The breakeven for the SILJ long put priced on this page is roughly $28.27 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 SILJ market-implied 1-standard-deviation expected move is approximately 16.72%; 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 SILJ?
- Long puts on SILJ hedge an existing long SILJ etf position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying SILJ exposure being hedged.
- How does current SILJ implied volatility affect this long put?
- SILJ ATM IV is at 58.30% with IV rank near 46.61%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.