SOYB Long Put Strategy
SOYB (Teucrium Soybean Fund), in the Financial Services sector, (Asset Management industry), listed on AMEX.
The Teucrium Soybean Fund (SOYB) provides investors an easy way to gain exposure to the price of soybeans futures in a brokerage account. Soybean prices have a historically low correlation with U.S. equities making SOYB a potentially attractive option for portfolio diversification.
SOYB (Teucrium Soybean Fund) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $42.8M, a beta of 0.67 versus the broader market, a 52-week range of 21.06-25.47, average daily share volume of 119K, a public-listing history dating back to 2011. These structural characteristics shape how SOYB etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.67 indicates SOYB has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure.
What is a long put on SOYB?
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 SOYB snapshot
As of May 15, 2026, spot at $24.69, ATM IV 18.00%, IV rank 3.95%, expected move 5.16%. The long put on SOYB 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 SOYB specifically: SOYB IV at 18.00% is on the cheap side of its 1-year range, which favors premium-buying structures like a SOYB long put, with a market-implied 1-standard-deviation move of approximately 5.16% (roughly $1.27 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 SOYB expiries trade a higher absolute premium for lower per-day decay. Position sizing on SOYB should anchor to the underlying notional of $24.69 per share and to the trader's directional view on SOYB etf.
SOYB long put setup
The SOYB 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 SOYB near $24.69, 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 SOYB 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 SOYB shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $25.00 | $0.45 |
SOYB long put risk and reward
- Net Premium / Debit
- -$45.00
- Max Profit (per contract)
- $2,454.00
- Max Loss (per contract)
- -$45.00
- Breakeven(s)
- $24.55
- Risk / Reward Ratio
- 54.533
Max profit equals the strike minus premium times 100 (reached at zero); max loss equals the premium times 100. Breakeven is strike minus premium.
SOYB long put payoff curve
Modeled P&L at expiration across a range of underlying prices for the long put on SOYB. 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% | +$2,454.00 |
| $5.47 | -77.9% | +$1,908.20 |
| $10.93 | -55.7% | +$1,362.40 |
| $16.38 | -33.6% | +$816.60 |
| $21.84 | -11.5% | +$270.80 |
| $27.30 | +10.6% | -$45.00 |
| $32.76 | +32.7% | -$45.00 |
| $38.22 | +54.8% | -$45.00 |
| $43.67 | +76.9% | -$45.00 |
| $49.13 | +99.0% | -$45.00 |
When traders use long put on SOYB
Long puts on SOYB hedge an existing long SOYB etf position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying SOYB exposure being hedged.
SOYB thesis for this long put
The market-implied 1-standard-deviation range for SOYB extends from approximately $23.42 on the downside to $25.96 on the upside. A SOYB long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long SOYB position with one put per 100 shares held. Current SOYB IV rank near 3.95% 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 SOYB at 18.00%. As a Financial Services name, SOYB options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to SOYB-specific events.
SOYB 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. SOYB positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move SOYB alongside the broader basket even when SOYB-specific fundamentals are unchanged. Long-premium structures like a long put on SOYB 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 SOYB chain quotes before placing a trade.
Frequently asked questions
- What is a long put on SOYB?
- A long put on SOYB is the long put strategy applied to SOYB (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 SOYB etf trading near $24.69, the strikes shown on this page are snapped to the nearest listed SOYB chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are SOYB 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 SOYB long put priced from the end-of-day chain at a 30-day expiry (ATM IV 18.00%), the computed maximum profit is $2,454.00 per contract and the computed maximum loss is -$45.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a SOYB long put?
- The breakeven for the SOYB long put priced on this page is roughly $24.55 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 SOYB market-implied 1-standard-deviation expected move is approximately 5.16%; 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 SOYB?
- Long puts on SOYB hedge an existing long SOYB etf position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying SOYB exposure being hedged.
- How does current SOYB implied volatility affect this long put?
- SOYB ATM IV is at 18.00% with IV rank near 3.95%, 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.