ATEC Long Put Strategy

ATEC (Alphatec Holdings, Inc.), in the Healthcare sector, (Medical - Devices industry), listed on NASDAQ.

Alphatec Holdings, Inc., a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders. The company offers SafeOp Neural InformatiX System, an Alpha InformatiX product platform designed to reduce the risk of intraoperative nerve injury; Sigma transforaminal lumbar interbody fusion pedicle-based access system that provides direct visualization of anatomical landmarks; Sigma PTP Access and Patient Positioning System; squadron lateral retractor designed to maximize patient outcomes; Invictus Spinal Fixation System, a thoracolumbar fixation system to treat a range of pathologies; and Invictus MIS SingleStep System that provides minimally invasive pedicle screw placement. It also provides Invictus Modular Fixation Systems designed to increase adaptability with the power of screw modularity; OsseoScrew system to restore the integrity of the spinal column; Arsenal spinal fixation system, a comprehensive thoracolumbar fixation platform to fix a range of degenerative to deformity pathologies and surgical procedures; Aspida Anterior Lumbar Plating System, a fixation system for anterior lumbar interbody fusion; AMP Anti-Migration Plate; OCT Spinal Fixation System; trestle luxe anterior cervical plate system; and Insignia Anterior Cervical Plate System. In addition, the company offers IdentiTi Porous Ti, Transcend Lateral, and Battalion Posterior Interbody Implants; and biologics consisting of Cervical Structural Allograft Spacers, 3D ProFuse Demineralized Bone Scaffold, Neocore Osteoconductive Matrix, Alphagraft Demineralized and Cellular Bone Matrix, and Amnioshield Amniotic Tissue Barrier, as well as EOS imaging products. It sells its products through a network of independent distributors and direct sales representatives in the United States. The company was founded in 1990 and is headquartered in Carlsbad, California.

ATEC (Alphatec Holdings, Inc.) trades in the Healthcare sector, specifically Medical - Devices, with a market capitalization of approximately $1.16B, a beta of 0.97 versus the broader market, a 52-week range of 6.82-23.29, average daily share volume of 3.3M, a public-listing history dating back to 2006, approximately 867 full-time employees. These structural characteristics shape how ATEC stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.97 places ATEC roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.

What is a long put on ATEC?

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 ATEC snapshot

As of May 15, 2026, spot at $7.61, ATM IV 68.40%, IV rank 14.15%, expected move 19.61%. The long put on ATEC 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 ATEC specifically: ATEC IV at 68.40% is on the cheap side of its 1-year range, which favors premium-buying structures like a ATEC long put, with a market-implied 1-standard-deviation move of approximately 19.61% (roughly $1.49 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 ATEC expiries trade a higher absolute premium for lower per-day decay. Position sizing on ATEC should anchor to the underlying notional of $7.61 per share and to the trader's directional view on ATEC stock.

ATEC long put setup

The ATEC 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 ATEC near $7.61, the first option leg uses a $7.61 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ATEC 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 ATEC shares for the stock leg in covered calls and collars).

ActionTypeStrike / BasisPremium (est)
Buy 1Put$7.61N/A

ATEC 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.

ATEC long put payoff curve

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

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

ATEC thesis for this long put

The market-implied 1-standard-deviation range for ATEC extends from approximately $6.12 on the downside to $9.10 on the upside. A ATEC long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long ATEC position with one put per 100 shares held. Current ATEC IV rank near 14.15% 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 ATEC at 68.40%. As a Healthcare name, ATEC options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ATEC-specific events.

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

Frequently asked questions

What is a long put on ATEC?
A long put on ATEC is the long put strategy applied to ATEC (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 ATEC stock trading near $7.61, the strikes shown on this page are snapped to the nearest listed ATEC chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are ATEC 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 ATEC long put priced from the end-of-day chain at a 30-day expiry (ATM IV 68.40%), 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 ATEC long put?
The breakeven for the ATEC 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 ATEC market-implied 1-standard-deviation expected move is approximately 19.61%; 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 ATEC?
Long puts on ATEC hedge an existing long ATEC stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying ATEC exposure being hedged.
How does current ATEC implied volatility affect this long put?
ATEC ATM IV is at 68.40% with IV rank near 14.15%, 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.

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