AMLX Long Put Strategy
AMLX (Amylyx Pharmaceuticals, Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
Amylyx Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, engages in developing various therapeutics for amyotrophic lateral sclerosis (ALS) and other neurodegenerative diseases. The company's product pipeline includes AMX0035, a dual UPR-Bax apoptosis inhibitor composed of sodium phenylbutyrate and taurursodiol for the treatment of amyotrophic lateral sclerosis. It is also developing AMX0035 for other neurodegenerative diseases. The company was founded in 2013 and is headquartered in Cambridge, Massachusetts.
AMLX (Amylyx Pharmaceuticals, Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $1.21B, a beta of -0.10 versus the broader market, a 52-week range of 4.265-18.605, average daily share volume of 1.1M, a public-listing history dating back to 2022, approximately 123 full-time employees. These structural characteristics shape how AMLX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of -0.10 indicates AMLX 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 AMLX?
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 AMLX snapshot
As of May 15, 2026, spot at $13.29, ATM IV 69.20%, IV rank 9.60%, expected move 19.84%. The long put on AMLX 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 AMLX specifically: AMLX IV at 69.20% is on the cheap side of its 1-year range, which favors premium-buying structures like a AMLX long put, with a market-implied 1-standard-deviation move of approximately 19.84% (roughly $2.64 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 AMLX expiries trade a higher absolute premium for lower per-day decay. Position sizing on AMLX should anchor to the underlying notional of $13.29 per share and to the trader's directional view on AMLX stock.
AMLX long put setup
The AMLX 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 AMLX near $13.29, the first option leg uses a $13.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AMLX 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 AMLX shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $13.00 | $0.93 |
AMLX long put risk and reward
- Net Premium / Debit
- -$92.50
- Max Profit (per contract)
- $1,206.50
- Max Loss (per contract)
- -$92.50
- Breakeven(s)
- $12.08
- Risk / Reward Ratio
- 13.043
Max profit equals the strike minus premium times 100 (reached at zero); max loss equals the premium times 100. Breakeven is strike minus premium.
AMLX long put payoff curve
Modeled P&L at expiration across a range of underlying prices for the long put on AMLX. 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% | +$1,206.50 |
| $2.95 | -77.8% | +$912.76 |
| $5.88 | -55.7% | +$619.02 |
| $8.82 | -33.6% | +$325.28 |
| $11.76 | -11.5% | +$31.55 |
| $14.70 | +10.6% | -$92.50 |
| $17.63 | +32.7% | -$92.50 |
| $20.57 | +54.8% | -$92.50 |
| $23.51 | +76.9% | -$92.50 |
| $26.45 | +99.0% | -$92.50 |
When traders use long put on AMLX
Long puts on AMLX hedge an existing long AMLX stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying AMLX exposure being hedged.
AMLX thesis for this long put
The market-implied 1-standard-deviation range for AMLX extends from approximately $10.65 on the downside to $15.93 on the upside. A AMLX long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long AMLX position with one put per 100 shares held. Current AMLX IV rank near 9.60% 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 AMLX at 69.20%. As a Healthcare name, AMLX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AMLX-specific events.
AMLX 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. AMLX positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move AMLX alongside the broader basket even when AMLX-specific fundamentals are unchanged. Long-premium structures like a long put on AMLX 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 AMLX chain quotes before placing a trade.
Frequently asked questions
- What is a long put on AMLX?
- A long put on AMLX is the long put strategy applied to AMLX (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 AMLX stock trading near $13.29, the strikes shown on this page are snapped to the nearest listed AMLX chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are AMLX 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 AMLX long put priced from the end-of-day chain at a 30-day expiry (ATM IV 69.20%), the computed maximum profit is $1,206.50 per contract and the computed maximum loss is -$92.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a AMLX long put?
- The breakeven for the AMLX long put priced on this page is roughly $12.08 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 AMLX market-implied 1-standard-deviation expected move is approximately 19.84%; 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 AMLX?
- Long puts on AMLX hedge an existing long AMLX stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying AMLX exposure being hedged.
- How does current AMLX implied volatility affect this long put?
- AMLX ATM IV is at 69.20% with IV rank near 9.60%, 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.