URA Long Put Strategy
URA (Global X - Uranium ETF), in the Financial Services sector, (Asset Management - Global industry), listed on AMEX.
The Global X Uranium ETF (URA) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Global Uranium & Nuclear Components Total Return Index.
URA (Global X - Uranium ETF) trades in the Financial Services sector, specifically Asset Management - Global, with a market capitalization of approximately $5.32B, a beta of 1.48 versus the broader market, a 52-week range of 27.26-62.28, average daily share volume of 4.1M, a public-listing history dating back to 2010. These structural characteristics shape how URA etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.48 indicates URA has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. URA pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a long put on URA?
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 URA snapshot
As of May 15, 2026, spot at $49.89, ATM IV 52.45%, IV rank 69.90%, expected move 15.04%. The long put on URA 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 URA specifically: URA IV at 52.45% 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 15.04% (roughly $7.50 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 URA expiries trade a higher absolute premium for lower per-day decay. Position sizing on URA should anchor to the underlying notional of $49.89 per share and to the trader's directional view on URA etf.
URA long put setup
The URA 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 URA near $49.89, the first option leg uses a $50.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed URA 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 URA shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $50.00 | $2.75 |
URA long put risk and reward
- Net Premium / Debit
- -$275.00
- Max Profit (per contract)
- $4,724.00
- Max Loss (per contract)
- -$275.00
- Breakeven(s)
- $47.25
- Risk / Reward Ratio
- 17.178
Max profit equals the strike minus premium times 100 (reached at zero); max loss equals the premium times 100. Breakeven is strike minus premium.
URA long put payoff curve
Modeled P&L at expiration across a range of underlying prices for the long put on URA. 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% | +$4,724.00 |
| $11.04 | -77.9% | +$3,621.02 |
| $22.07 | -55.8% | +$2,518.03 |
| $33.10 | -33.7% | +$1,415.05 |
| $44.13 | -11.5% | +$312.06 |
| $55.16 | +10.6% | -$275.00 |
| $66.19 | +32.7% | -$275.00 |
| $77.22 | +54.8% | -$275.00 |
| $88.25 | +76.9% | -$275.00 |
| $99.28 | +99.0% | -$275.00 |
When traders use long put on URA
Long puts on URA hedge an existing long URA etf position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying URA exposure being hedged.
URA thesis for this long put
The market-implied 1-standard-deviation range for URA extends from approximately $42.39 on the downside to $57.39 on the upside. A URA long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long URA position with one put per 100 shares held. Current URA IV rank near 69.90% is mid-range against its 1-year distribution, so the IV signal is neutral; the long put thesis on URA should anchor more to the directional view and the expected-move geometry. As a Financial Services name, URA options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to URA-specific events.
URA 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. URA positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move URA alongside the broader basket even when URA-specific fundamentals are unchanged. Long-premium structures like a long put on URA 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 URA chain quotes before placing a trade.
Frequently asked questions
- What is a long put on URA?
- A long put on URA is the long put strategy applied to URA (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 URA etf trading near $49.89, the strikes shown on this page are snapped to the nearest listed URA chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are URA 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 URA long put priced from the end-of-day chain at a 30-day expiry (ATM IV 52.45%), the computed maximum profit is $4,724.00 per contract and the computed maximum loss is -$275.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a URA long put?
- The breakeven for the URA long put priced on this page is roughly $47.25 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 URA market-implied 1-standard-deviation expected move is approximately 15.04%; 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 URA?
- Long puts on URA hedge an existing long URA etf position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying URA exposure being hedged.
- How does current URA implied volatility affect this long put?
- URA ATM IV is at 52.45% with IV rank near 69.90%, 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.