BMNR Long Put Strategy
BMNR (Bitmine Immersion Technologies, Inc.), in the Financial Services sector, (Financial - Capital Markets industry), listed on NYSE.
Bitmine Immersion Technologies, Inc. is a blockchain technology company primarily operating in the United States. The company's activities include managing an Ethereum (ETH) treasury, and offering a range of services for the Bitcoin (BTC) ecosystem, such as consulting, advisory, and equipment leasing. It also assists in optimizing and securing third-party power and hosting solutions for its clients. A key part of its strategy involves disciplined Bitcoin (BTC) treasury management, alongside systematically reducing its proprietary self-mining operations and postponing the development of new operational sites. Beyond BTC, Bitmine provides broader digital asset ecosystem services, encompassing consulting, advisory, and diligent digital asset treasury management. Furthermore, the company sells mining hardware to its clients and affiliated entities.
BMNR (Bitmine Immersion Technologies, Inc.) trades in the Financial Services sector, specifically Financial - Capital Markets, with a market capitalization of approximately $7.29B, a beta of 1.61 versus the broader market, a 52-week range of 12.38-161, average daily share volume of 39.6M, a public-listing history dating back to 2025, approximately 3 full-time employees. These structural characteristics shape how BMNR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.61 indicates BMNR has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. BMNR pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a long put on BMNR?
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 BMNR snapshot
As of June 30, 2026, spot at $13.43, ATM IV 80.59%, IV rank 12.54%, expected move 23.10%. The long put on BMNR 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 31-day expiry.
Why this long put structure on BMNR specifically: BMNR IV at 80.59% is on the cheap side of its 1-year range, which favors premium-buying structures like a BMNR long put, with a market-implied 1-standard-deviation move of approximately 23.10% (roughly $3.10 on the underlying). The 31-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated BMNR expiries trade a higher absolute premium for lower per-day decay. Position sizing on BMNR should anchor to the underlying notional of $13.43 per share and to the trader's directional view on BMNR stock.
BMNR long put setup
The BMNR 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 BMNR near $13.43, the first option leg uses a $13.50 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed BMNR chain at a 31-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 BMNR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $13.50 | $1.25 |
BMNR long put risk and reward
- Net Premium / Debit
- -$125.00
- Max Profit (per contract)
- $1,224.00
- Max Loss (per contract)
- -$125.00
- Breakeven(s)
- $12.25
- Risk / Reward Ratio
- 9.792
Max profit equals the strike minus premium times 100 (reached at zero); max loss equals the premium times 100. Breakeven is strike minus premium.
BMNR long put payoff curve
Modeled P&L at expiration across a range of underlying prices for the long put on BMNR. 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% | +$1,224.00 |
| $2.98 | -77.8% | +$927.17 |
| $5.95 | -55.7% | +$630.33 |
| $8.92 | -33.6% | +$333.50 |
| $11.88 | -11.5% | +$36.66 |
| $14.85 | +10.6% | -$125.00 |
| $17.82 | +32.7% | -$125.00 |
| $20.79 | +54.8% | -$125.00 |
| $23.76 | +76.9% | -$125.00 |
| $26.73 | +99.0% | -$125.00 |
When traders use long put on BMNR
Long puts on BMNR hedge an existing long BMNR stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying BMNR exposure being hedged.
BMNR thesis for this long put
The market-implied 1-standard-deviation range for BMNR extends from approximately $10.33 on the downside to $16.53 on the upside. A BMNR long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long BMNR position with one put per 100 shares held. Current BMNR IV rank near 12.54% 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 BMNR at 80.59%. As a Financial Services name, BMNR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to BMNR-specific events.
BMNR 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. BMNR positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move BMNR alongside the broader basket even when BMNR-specific fundamentals are unchanged. Long-premium structures like a long put on BMNR 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 BMNR chain quotes before placing a trade.
Frequently asked questions
- What is a long put on BMNR?
- A long put on BMNR is the long put strategy applied to BMNR (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 BMNR stock trading near $13.43, the strikes shown on this page are snapped to the nearest listed BMNR chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are BMNR 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 BMNR long put priced from the end-of-day chain at a 30-day expiry (ATM IV 80.59%), the computed maximum profit is $1,224.00 per contract and the computed maximum loss is -$125.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a BMNR long put?
- The breakeven for the BMNR long put priced on this page is roughly $12.25 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 BMNR market-implied 1-standard-deviation expected move is approximately 23.10%; 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 BMNR?
- Long puts on BMNR hedge an existing long BMNR stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying BMNR exposure being hedged.
- How does current BMNR implied volatility affect this long put?
- BMNR ATM IV is at 80.59% with IV rank near 12.54%, 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.