How are BLLN 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 BLLN long put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 61.60%), the computed maximum profit is $8,704.00 per contract and the computed maximum loss is -$795.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a BLLN long put?

The breakeven for the BLLN long put priced on this page is roughly $87.05 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 BLLN market-implied 1-standard-deviation expected move in the same options snapshot is approximately 17.66%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current BLLN implied volatility affect this long put?

Current BLLN ATM IV is 61.60%; IV rank context is unavailable in the current snapshot.

BLLN Long Put Strategy

BLLN (BillionToOne, Inc.), in the Healthcare sector, (Medical - Diagnostics & Research industry), listed on NASDAQ.

BillionToOne, Inc. is a specialized diagnostics company that innovates by precisely quantifying biological data to create advanced molecular diagnostic solutions. Central to their operations is a cutting-edge molecular counting platform, meticulously engineered to identify and measure individual DNA molecules, thereby significantly enhancing the precision of disease detection. Their product portfolio includes: UNITY Complete: A non-invasive prenatal screen that assesses a fetus's risk for aneuploidies, recessive genetic conditions, and fetal antigens, all from a simple maternal blood sample. Northstar Select: A liquid biopsy test designed to pinpoint specific mutations present in tumors, encompassing deletions, insertions, and point mutations. Northstar Response: A diagnostic tool that enables continuous tracking of cancer progression through detailed methylation assessment. Established in 2016, BillionToOne, Inc. conducts its operations from its headquarters located in Menlo Park, California.

BLLN (BillionToOne, Inc.) trades in the Healthcare sector, specifically Medical - Diagnostics & Research, with a market capitalization of approximately $4.48B, a trailing P/E of 134.95, a beta of 0.34 versus the broader market, a 52-week range of 61.96-150.44, average daily share volume of 709K, a public-listing history dating back to 2025, approximately 713 full-time employees. These structural characteristics shape how BLLN stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.34 indicates BLLN has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. The trailing P/E of 134.95 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 BLLN?

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.

BLLN snapshot

As of August 14, 2026, spot at $93.09, ATM IV 61.60%, expected move 17.66%. The long put on BLLN 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 35-day expiry.

Why this long put structure on BLLN specifically: IV rank is unavailable in the current snapshot, so regime-based timing for BLLN is inferred from ATM IV at 61.60% alone, with a market-implied 1-standard-deviation move of approximately 17.66% (roughly $16.44 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated BLLN expiries trade a higher absolute premium for lower per-day decay. Position sizing on BLLN should anchor to the underlying notional of $93.09 per share and to the trader's directional view on BLLN stock.

BLLN long put setup

The BLLN 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 BLLN at $93.09 on that close, the first option leg uses a $95.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed BLLN chain at a 35-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 BLLN shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Put	$95.00	$7.95

BLLN long put risk and reward

Net Premium / Debit: -$795.00
Max Profit (per contract): $8,704.00
Max Loss (per contract): -$795.00
Breakeven(s): $87.05
Risk / Reward Ratio: 10.948

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

BLLN long put payoff curve

Modeled P&L at expiration across a range of underlying prices for the long put on BLLN. 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	-100.0%	+$8,704.00
$20.59	-77.9%	+$6,645.84
$41.17	-55.8%	+$4,587.68
$61.75	-33.7%	+$2,529.52
$82.34	-11.6%	+$471.36
$102.92	+10.6%	-$795.00
$123.50	+32.7%	-$795.00
$144.08	+54.8%	-$795.00
$164.66	+76.9%	-$795.00
$185.24	+99.0%	-$795.00

When traders use long put on BLLN

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

BLLN thesis for this long put

The market-implied 1-standard-deviation range for BLLN extends from approximately $76.65 on the downside to $109.53 on the upside. A BLLN long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long BLLN position with one put per 100 shares held. As a Healthcare name, BLLN options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to BLLN-specific events.

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

Frequently asked questions

What is a long put on BLLN?: A long put on BLLN is the long put strategy applied to BLLN (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 BLLN stock at $93.09 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed BLLN chain strike and the premiums come straight from that session's bid/ask midpoint.
How are BLLN 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 BLLN long put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 61.60%), the computed maximum profit is $8,704.00 per contract and the computed maximum loss is -$795.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a BLLN long put?: The breakeven for the BLLN long put priced on this page is roughly $87.05 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 BLLN market-implied 1-standard-deviation expected move in the same options snapshot is approximately 17.66%; 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 BLLN?: Long puts on BLLN hedge an existing long BLLN stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying BLLN exposure being hedged.
How does current BLLN implied volatility affect this long put?: Current BLLN ATM IV is 61.60%; IV rank context is unavailable in the current snapshot.