How are ARVN 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 ARVN long put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 56.10%), the computed maximum profit is $749.00 per contract and the computed maximum loss is -$150.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a ARVN long put?

The breakeven for the ARVN long put priced on this page is roughly $7.50 at expiration, derived from the August 14, 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 ARVN market-implied 1-standard-deviation expected move in the same options snapshot is approximately 16.08%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current ARVN implied volatility affect this long put?

ARVN ATM IV is at 56.10% with IV rank near 12.03%, 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.

ARVN Long Put Strategy

ARVN (Arvinas, Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.

Arvinas, Inc. is a biopharmaceutical company in the clinical development stage, dedicated to identifying, advancing, and marketing innovative therapies designed to eliminate disease-causing proteins. The company's pipeline features several promising candidates. These include Bavdegalutamide, a proteolysis targeting chimera (PROTAC) protein degrader, currently in Phase I clinical trials, which specifically targets the androgen receptor (AR) protein to treat metastatic castration-resistant prostate cancer (mCRPC) in men. Another key PROTAC protein degrader is ARV-471, which targets the estrogen receptor protein for patients suffering from metastatic ER-positive/HER2-negative breast cancer. Furthermore, Arvinas is developing ARV-766, an investigational orally bioavailable PROTAC protein degrader also aimed at treating mCRPC in men. The company has strategic alliances with major pharmaceutical entities including Pfizer Inc., Genentech, Inc., F.

ARVN (Arvinas, Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $572.3M, a trailing P/E of 61.80, a beta of 1.74 versus the broader market, a 52-week range of 6.74-14.51, average daily share volume of 865K, a public-listing history dating back to 2018, approximately 246 full-time employees. These structural characteristics shape how ARVN stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.74 indicates ARVN 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 61.80 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 ARVN?

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.

ARVN snapshot

As of August 14, 2026, spot at $8.87, ATM IV 56.10%, IV rank 12.03%, expected move 16.08%. The long put on ARVN below is built from the August 14, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 154-day expiry.

Why this long put structure on ARVN specifically: ARVN IV at 56.10% is on the cheap side of its 1-year range, which favors premium-buying structures like a ARVN long put, with a market-implied 1-standard-deviation move of approximately 16.08% (roughly $1.43 on the underlying). The 154-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated ARVN expiries trade a higher absolute premium for lower per-day decay. Position sizing on ARVN should anchor to the underlying notional of $8.87 per share and to the trader's directional view on ARVN stock.

ARVN long put setup

The ARVN long put below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With ARVN at $8.87 on that close, the first option leg uses a $9.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ARVN chain at a 154-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 ARVN shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Put	$9.00	$1.50

ARVN long put risk and reward

Net Premium / Debit: -$150.00
Max Profit (per contract): $749.00
Max Loss (per contract): -$150.00
Breakeven(s): $7.50
Risk / Reward Ratio: 4.993

Max profit equals the strike minus premium times 100 (reached at zero); max loss equals the premium times 100. Breakeven is strike minus premium.

ARVN long put payoff curve

Modeled P&L at expiration across a range of underlying prices for the long put on ARVN. 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.

P&L at expiration across the modeled underlying-price range. Green shading marks profitable regions, red shading marks loss regions. Dotted purple verticals mark breakevens; the solid dark vertical marks current spot.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-99.9%	+$749.00
$1.97	-77.8%	+$552.99
$3.93	-55.7%	+$356.98
$5.89	-33.6%	+$160.97
$7.85	-11.5%	-$35.04
$9.81	+10.6%	-$150.00
$11.77	+32.7%	-$150.00
$13.73	+54.8%	-$150.00
$15.69	+76.9%	-$150.00
$17.65	+99.0%	-$150.00

When traders use long put on ARVN

Long puts on ARVN hedge an existing long ARVN stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying ARVN exposure being hedged.

ARVN thesis for this long put

The market-implied 1-standard-deviation range for ARVN extends from approximately $7.44 on the downside to $10.30 on the upside. A ARVN long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long ARVN position with one put per 100 shares held. Current ARVN IV rank near 12.03% 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 ARVN at 56.10%. As a Healthcare name, ARVN options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ARVN-specific events.

ARVN 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. ARVN positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ARVN alongside the broader basket even when ARVN-specific fundamentals are unchanged. Long-premium structures like a long put on ARVN 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 ARVN chain quotes before placing a trade.

Frequently asked questions

What is a long put on ARVN?: A long put on ARVN is the long put strategy applied to ARVN (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 ARVN stock at $8.87 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed ARVN chain strike and the premiums come straight from that session's bid/ask midpoint.
How are ARVN 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 ARVN long put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 56.10%), the computed maximum profit is $749.00 per contract and the computed maximum loss is -$150.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a ARVN long put?: The breakeven for the ARVN long put priced on this page is roughly $7.50 at expiration, derived from the August 14, 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 ARVN market-implied 1-standard-deviation expected move in the same options snapshot is approximately 16.08%; 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 ARVN?: Long puts on ARVN hedge an existing long ARVN stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying ARVN exposure being hedged.
How does current ARVN implied volatility affect this long put?: ARVN ATM IV is at 56.10% with IV rank near 12.03%, 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.