CBUS Long Put Strategy
CBUS (Cibus, Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
Cibus, Inc., a agricultural technology company, develops and licenses plant traits to seed companies for royalties. The company primarily focus on trait productivity in two areas, including productivity traits that enable farmers to have higher yields and reduce the use of the crop protection chemicals and fertilizers; and sustainable ingredients that enable corporations to replace ingredients that are fossil fuel based or whose production results in increased greenhouse gases. The company is based in San Diego, California.
CBUS (Cibus, Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $66.2M, a beta of 1.66 versus the broader market, a 52-week range of 1.09-4.191, average daily share volume of 635K, a public-listing history dating back to 2017, approximately 157 full-time employees. These structural characteristics shape how CBUS stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.66 indicates CBUS has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.
What is a long put on CBUS?
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 CBUS snapshot
As of May 15, 2026, spot at $1.31, ATM IV 303.90%, IV rank 61.03%, expected move 87.13%. The long put on CBUS 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 CBUS specifically: CBUS IV at 303.90% is mid-range versus its 1-year history, so strategy selection should anchor more to the directional thesis than to the IV regime, with a market-implied 1-standard-deviation move of approximately 87.13% (roughly $1.14 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 CBUS expiries trade a higher absolute premium for lower per-day decay. Position sizing on CBUS should anchor to the underlying notional of $1.31 per share and to the trader's directional view on CBUS stock.
CBUS long put setup
The CBUS 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 CBUS near $1.31, the first option leg uses a $1.31 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CBUS 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 CBUS shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $1.31 | N/A |
CBUS 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.
CBUS long put payoff curve
Modeled P&L at expiration across a range of underlying prices for the long put on CBUS. 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 CBUS
Long puts on CBUS hedge an existing long CBUS stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying CBUS exposure being hedged.
CBUS thesis for this long put
The market-implied 1-standard-deviation range for CBUS extends from approximately $0.17 on the downside to $2.45 on the upside. A CBUS long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long CBUS position with one put per 100 shares held. Current CBUS IV rank near 61.03% is mid-range against its 1-year distribution, so the IV signal is neutral; the long put thesis on CBUS should anchor more to the directional view and the expected-move geometry. As a Healthcare name, CBUS options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CBUS-specific events.
CBUS 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. CBUS positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CBUS alongside the broader basket even when CBUS-specific fundamentals are unchanged. Long-premium structures like a long put on CBUS 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 CBUS chain quotes before placing a trade.
Frequently asked questions
- What is a long put on CBUS?
- A long put on CBUS is the long put strategy applied to CBUS (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 CBUS stock trading near $1.31, the strikes shown on this page are snapped to the nearest listed CBUS chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are CBUS 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 CBUS long put priced from the end-of-day chain at a 30-day expiry (ATM IV 303.90%), 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 CBUS long put?
- The breakeven for the CBUS 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 CBUS market-implied 1-standard-deviation expected move is approximately 87.13%; 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 CBUS?
- Long puts on CBUS hedge an existing long CBUS stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying CBUS exposure being hedged.
- How does current CBUS implied volatility affect this long put?
- CBUS ATM IV is at 303.90% with IV rank near 61.03%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.