ACLS Long Put Strategy
ACLS (Axcelis Technologies, Inc.), in the Technology sector, (Semiconductors industry), listed on NASDAQ.
Axcelis Technologies, Inc. is a company dedicated to the creation, production, and maintenance of specialized ion implantation and other essential processing machinery used in the fabrication of semiconductor chips. Operating internationally, its presence extends across North America, Europe, and Asia. The firm offers a wide array of implanter technologies, such as high-energy, high-current, and medium-current systems, designed to meet diverse application needs. Furthermore, Axcelis provides extensive post-sales support and lifecycle solutions, including the sale of pre-owned equipment, replacement parts, system upgrades, ongoing maintenance, and client instruction. It directly furnishes its advanced equipment and services to microchip manufacturers through its own dedicated sales personnel. Founded in 1978, Axcelis Technologies has its corporate headquarters situated in Beverly, Massachusetts.
ACLS (Axcelis Technologies, Inc.) trades in the Technology sector, specifically Semiconductors, with a market capitalization of approximately $3.78B, a trailing P/E of 40.87, a beta of 1.86 versus the broader market, a 52-week range of 73.6-193.78, average daily share volume of 474K, a public-listing history dating back to 2000, approximately 1K full-time employees. These structural characteristics shape how ACLS stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.86 indicates ACLS has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. The trailing P/E of 40.87 is on the rich side, which tends to correlate with higher earnings-window IV expansion as the market debates whether forward growth supports the multiple.
What is a long put on ACLS?
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.
ACLS snapshot
As of September 29, 2026, spot at $127.62, ATM IV 60.60%, IV rank 26.89%, expected move 17.37%. The long put on ACLS below is built from the September 29, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 17-day expiry.
Why this long put structure on ACLS specifically: ACLS IV at 60.60% is on the cheap side of its 1-year range, which favors premium-buying structures like a ACLS long put, with a market-implied 1-standard-deviation move of approximately 17.37% (roughly $22.17 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated ACLS expiries trade a higher absolute premium for lower per-day decay. Position sizing on ACLS should anchor to the underlying notional of $127.62 per share and to the trader's directional view on ACLS stock.
ACLS long put setup
The ACLS long put below is built from the September 29, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With ACLS at $127.62 on that close, the first option leg uses a $130.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ACLS chain at a 17-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 ACLS shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $130.00 | $7.90 |
ACLS long put risk and reward
- Net Premium / Debit
- -$790.00
- Max Profit (per contract)
- $12,209.00
- Max Loss (per contract)
- -$790.00
- Breakeven(s)
- $122.10
- Risk / Reward Ratio
- 15.454
Max profit equals the strike minus premium times 100 (reached at zero); max loss equals the premium times 100. Breakeven is strike minus premium.
ACLS long put payoff curve
Modeled P&L at expiration across a range of underlying prices for the long put on ACLS. 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% | +$12,209.00 |
| $28.23 | -77.9% | +$9,387.36 |
| $56.44 | -55.8% | +$6,565.72 |
| $84.66 | -33.7% | +$3,744.09 |
| $112.88 | -11.6% | +$922.45 |
| $141.09 | +10.6% | -$790.00 |
| $169.31 | +32.7% | -$790.00 |
| $197.52 | +54.8% | -$790.00 |
| $225.74 | +76.9% | -$790.00 |
| $253.96 | +99.0% | -$790.00 |
When traders use long put on ACLS
Long puts on ACLS hedge an existing long ACLS stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying ACLS exposure being hedged.
ACLS thesis for this long put
The market-implied 1-standard-deviation range for ACLS extends from approximately $105.45 on the downside to $149.79 on the upside. A ACLS long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long ACLS position with one put per 100 shares held. Current ACLS IV rank near 26.89% 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 ACLS at 60.60%. As a Technology name, ACLS options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ACLS-specific events.
ACLS 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. ACLS positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ACLS alongside the broader basket even when ACLS-specific fundamentals are unchanged. Long-premium structures like a long put on ACLS 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 ACLS chain quotes before placing a trade.
Frequently asked questions
- What is a long put on ACLS?
- A long put on ACLS is the long put strategy applied to ACLS (stock). 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 ACLS stock at $127.62 on the September 29, 2026 close, the strikes shown on this page are snapped to the nearest listed ACLS chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are ACLS 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 ACLS long put priced from the September 29, 2026 end-of-day chain at a 30-day expiry (ATM IV 60.60%), the computed maximum profit is $12,209.00 per contract and the computed maximum loss is -$790.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a ACLS long put?
- The breakeven for the ACLS long put priced on this page is roughly $122.10 at expiration, derived from the September 29, 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 ACLS market-implied 1-standard-deviation expected move in the same options snapshot is approximately 17.37%; 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 ACLS?
- Long puts on ACLS hedge an existing long ACLS stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying ACLS exposure being hedged.
- How does current ACLS implied volatility affect this long put?
- ACLS ATM IV is at 60.60% with IV rank near 26.89%, 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.