How are CCI 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 CCI long put priced from the end-of-day chain at a 30-day expiry (ATM IV 31.90%), the computed maximum profit is $7,471.50 per contract and the computed maximum loss is -$277.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a CCI long put?

The breakeven for the CCI long put priced on this page is roughly $74.73 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 CCI market-implied 1-standard-deviation expected move is approximately 9.15%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current CCI implied volatility affect this long put?

CCI ATM IV is at 31.90% with IV rank near 76.61%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.

CCI Long Put Strategy

CCI (Crown Castle Inc.), in the Real Estate sector, (REIT - Specialty industry), listed on NYSE.

Crown Castle Inc. specializes in critical digital infrastructure across the United States. The company actively manages, operates, and leases an expansive network, featuring over 40,000 cellular communication towers and approximately 80,000 miles of fiber optic cable. This comprehensive infrastructure underpins both small cell deployments and various advanced fiber solutions, spanning every significant U.S. metropolitan area. Through these vital connections, Crown Castle links communities and urban centers to essential data, cutting-edge technology, and indispensable wireless services, thereby delivering crucial information, innovative concepts, and communication capabilities to individuals and enterprises alike. More information can be found at www.crowncastle.com.

CCI (Crown Castle Inc.) trades in the Real Estate sector, specifically REIT - Specialty, with a market capitalization of approximately $36.06B, a trailing P/E of 34.02, a beta of 0.95 versus the broader market, a 52-week range of 75.96-115.76, average daily share volume of 3.7M, a public-listing history dating back to 1998, approximately 2K full-time employees. These structural characteristics shape how CCI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.95 places CCI roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. CCI pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a long put on CCI?

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 CCI snapshot

As of June 29, 2026, spot at $78.56, ATM IV 31.90%, IV rank 76.61%, expected move 9.15%. The long put on CCI 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 17-day expiry.

Why this long put structure on CCI specifically: CCI IV at 31.90% is rich versus its 1-year range, which makes a premium-buying CCI long put relatively expensive in absolute-cost terms, with a market-implied 1-standard-deviation move of approximately 9.15% (roughly $7.18 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated CCI expiries trade a higher absolute premium for lower per-day decay. Position sizing on CCI should anchor to the underlying notional of $78.56 per share and to the trader's directional view on CCI stock.

CCI long put setup

The CCI 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 CCI near $78.56, the first option leg uses a $77.50 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CCI chain at a 17-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 CCI shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Put	$77.50	$2.78

CCI long put risk and reward

Net Premium / Debit: -$277.50
Max Profit (per contract): $7,471.50
Max Loss (per contract): -$277.50
Breakeven(s): $74.73
Risk / Reward Ratio: 26.924

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

CCI long put payoff curve

Modeled P&L at expiration across a range of underlying prices for the long put on CCI. 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%	+$7,471.50
$17.38	-77.9%	+$5,734.61
$34.75	-55.8%	+$3,997.71
$52.12	-33.7%	+$2,260.82
$69.49	-11.6%	+$523.92
$86.85	+10.6%	-$277.50
$104.22	+32.7%	-$277.50
$121.59	+54.8%	-$277.50
$138.96	+76.9%	-$277.50
$156.33	+99.0%	-$277.50

When traders use long put on CCI

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

CCI thesis for this long put

The market-implied 1-standard-deviation range for CCI extends from approximately $71.38 on the downside to $85.74 on the upside. A CCI long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long CCI position with one put per 100 shares held. Current CCI IV rank near 76.61% sits in the upper third of its 1-year distribution, which historically reverts; this raises the bar for premium-buying structures and lowers it for premium-selling structures on CCI at 31.90%. As a Real Estate name, CCI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CCI-specific events.

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

Frequently asked questions

What is a long put on CCI?: A long put on CCI is the long put strategy applied to CCI (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 CCI stock trading near $78.56, the strikes shown on this page are snapped to the nearest listed CCI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are CCI 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 CCI long put priced from the end-of-day chain at a 30-day expiry (ATM IV 31.90%), the computed maximum profit is $7,471.50 per contract and the computed maximum loss is -$277.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a CCI long put?: The breakeven for the CCI long put priced on this page is roughly $74.73 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 CCI market-implied 1-standard-deviation expected move is approximately 9.15%; 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 CCI?: Long puts on CCI hedge an existing long CCI stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying CCI exposure being hedged.
How does current CCI implied volatility affect this long put?: CCI ATM IV is at 31.90% with IV rank near 76.61%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.