ADUR Long Put Strategy
ADUR (Aduro Clean Technologies Inc.), in the Industrials sector, (Industrial - Pollution & Treatment Controls industry), listed on NASDAQ.
Aduro Clean Technologies Inc. is focused on pioneering water-based chemical recycling solutions. Their primary technological platform is designed to efficiently convert discarded materials such as end-of-life plastics and tire rubber into valuable specialty chemicals and different types of fuels. Furthermore, this adaptable system is also employed to refine heavy crude oils and to process renewable oils, transforming them into sustainable fuels and specialized chemical compounds. The company's operations are headquartered in London, Canada.
ADUR (Aduro Clean Technologies Inc.) trades in the Industrials sector, specifically Industrial - Pollution & Treatment Controls, with a market capitalization of approximately $514.6M, a beta of 1.30 versus the broader market, a 52-week range of 8.68-18.19, average daily share volume of 440K, a public-listing history dating back to 2024, approximately 25 full-time employees. These structural characteristics shape how ADUR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.30 indicates ADUR has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.
What is a long put on ADUR?
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 ADUR snapshot
As of June 30, 2026, spot at $15.84, ATM IV 88.20%, IV rank 14.52%, expected move 25.29%. The long put on ADUR 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 17-day expiry.
Why this long put structure on ADUR specifically: ADUR IV at 88.20% is on the cheap side of its 1-year range, which favors premium-buying structures like a ADUR long put, with a market-implied 1-standard-deviation move of approximately 25.29% (roughly $4.01 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 ADUR expiries trade a higher absolute premium for lower per-day decay. Position sizing on ADUR should anchor to the underlying notional of $15.84 per share and to the trader's directional view on ADUR stock.
ADUR long put setup
The ADUR 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 ADUR near $15.84, the first option leg uses a $15.84 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ADUR 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 ADUR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $15.84 | N/A |
ADUR long put risk and reward
- Net Premium / Debit
- N/A
- Max Profit (per contract)
- Unbounded
- Max Loss (per contract)
- Unbounded
- Breakeven(s)
- None on modeled curve
- Risk / Reward Ratio
- N/A
Max profit equals the strike minus premium times 100 (reached at zero); max loss equals the premium times 100. Breakeven is strike minus premium.
ADUR long put payoff curve
Modeled P&L at expiration across a range of underlying prices for the long put on ADUR. 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.
When traders use long put on ADUR
Long puts on ADUR hedge an existing long ADUR stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying ADUR exposure being hedged.
ADUR thesis for this long put
The market-implied 1-standard-deviation range for ADUR extends from approximately $11.83 on the downside to $19.85 on the upside. A ADUR long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long ADUR position with one put per 100 shares held. Current ADUR IV rank near 14.52% 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 ADUR at 88.20%. As a Industrials name, ADUR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ADUR-specific events.
ADUR 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. ADUR positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ADUR alongside the broader basket even when ADUR-specific fundamentals are unchanged. Long-premium structures like a long put on ADUR 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 ADUR chain quotes before placing a trade.
Frequently asked questions
- What is a long put on ADUR?
- A long put on ADUR is the long put strategy applied to ADUR (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 ADUR stock trading near $15.84, the strikes shown on this page are snapped to the nearest listed ADUR chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are ADUR 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 ADUR long put priced from the end-of-day chain at a 30-day expiry (ATM IV 88.20%), the computed maximum profit is unbounded per contract and the computed maximum loss is unbounded per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a ADUR long put?
- The breakeven for the ADUR long put priced on this page is no defined breakeven on the modeled curve 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 ADUR market-implied 1-standard-deviation expected move is approximately 25.29%; 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 ADUR?
- Long puts on ADUR hedge an existing long ADUR stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying ADUR exposure being hedged.
- How does current ADUR implied volatility affect this long put?
- ADUR ATM IV is at 88.20% with IV rank near 14.52%, 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.