How are SOFX 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 SOFX long put priced from the end-of-day chain at a 30-day expiry (ATM IV 100.30%), the computed maximum profit is $716.50 per contract and the computed maximum loss is -$82.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a SOFX long put?

The breakeven for the SOFX long put priced on this page is roughly $7.18 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 SOFX market-implied 1-standard-deviation expected move is approximately 28.76%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current SOFX implied volatility affect this long put?

SOFX ATM IV is at 100.30% with IV rank near 18.54%, 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.

SOFX Long Put Strategy

SOFX (Daily Target 2X Long SOFI ETF), in the Financial Services sector, (Asset Management industry), listed on NASDAQ.

SOFX uses swap agreements to make bullish bets on SoFi Technologies, Inc. (SOFI) share price. SOFI is an American personal finance and financial technology company that provides various financial services. The fund seeks to maintain daily leveraged exposure equivalent to 200% of the daily percentage change in SOFI's share price through daily rebalancing. As a leveraged product, it is designed for short-term tactical use, not as a long-term investment vehicle. Returns may deviate from the expected 2x if held longer than a single day due to factors like volatility and compounding effects. This strategy is high-risk and does not incorporate a defensive position.

SOFX (Daily Target 2X Long SOFI ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $18.8M, a beta of 4.23 versus the broader market, a 52-week range of 7.92-55.479, average daily share volume of 944K, a public-listing history dating back to 2025. These structural characteristics shape how SOFX etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 4.23 indicates SOFX has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. SOFX pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a long put on SOFX?

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 SOFX snapshot

As of May 15, 2026, spot at $8.34, ATM IV 100.30%, IV rank 18.54%, expected move 28.76%. The long put on SOFX 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 34-day expiry.

Why this long put structure on SOFX specifically: SOFX IV at 100.30% is on the cheap side of its 1-year range, which favors premium-buying structures like a SOFX long put, with a market-implied 1-standard-deviation move of approximately 28.76% (roughly $2.40 on the underlying). The 34-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated SOFX expiries trade a higher absolute premium for lower per-day decay. Position sizing on SOFX should anchor to the underlying notional of $8.34 per share and to the trader's directional view on SOFX etf.

SOFX long put setup

The SOFX 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 SOFX near $8.34, the first option leg uses a $8.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed SOFX chain at a 34-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 SOFX shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Put	$8.00	$0.83

SOFX long put risk and reward

Net Premium / Debit: -$82.50
Max Profit (per contract): $716.50
Max Loss (per contract): -$82.50
Breakeven(s): $7.18
Risk / Reward Ratio: 8.685

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

SOFX long put payoff curve

Modeled P&L at expiration across a range of underlying prices for the long put on SOFX. 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	-99.9%	+$716.50
$1.85	-77.8%	+$532.21
$3.70	-55.7%	+$347.92
$5.54	-33.6%	+$163.63
$7.38	-11.5%	-$20.67
$9.22	+10.6%	-$82.50
$11.07	+32.7%	-$82.50
$12.91	+54.8%	-$82.50
$14.75	+76.9%	-$82.50
$16.60	+99.0%	-$82.50

When traders use long put on SOFX

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

SOFX thesis for this long put

The market-implied 1-standard-deviation range for SOFX extends from approximately $5.94 on the downside to $10.74 on the upside. A SOFX long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long SOFX position with one put per 100 shares held. Current SOFX IV rank near 18.54% 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 SOFX at 100.30%. As a Financial Services name, SOFX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to SOFX-specific events.

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

Frequently asked questions

What is a long put on SOFX?: A long put on SOFX is the long put strategy applied to SOFX (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 SOFX etf trading near $8.34, the strikes shown on this page are snapped to the nearest listed SOFX chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are SOFX 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 SOFX long put priced from the end-of-day chain at a 30-day expiry (ATM IV 100.30%), the computed maximum profit is $716.50 per contract and the computed maximum loss is -$82.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a SOFX long put?: The breakeven for the SOFX long put priced on this page is roughly $7.18 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 SOFX market-implied 1-standard-deviation expected move is approximately 28.76%; 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 SOFX?: Long puts on SOFX hedge an existing long SOFX etf position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying SOFX exposure being hedged.
How does current SOFX implied volatility affect this long put?: SOFX ATM IV is at 100.30% with IV rank near 18.54%, 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.