CELU Long Put Strategy
CELU (Celularity Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
Celularity Inc., a clinical-stage biotechnology company, develops off-the-shelf placental-derived allogeneic cell therapies for the treatment of cancer, immune, and infectious diseases. It operates through three segments: Cell Therapy, Degenerative Disease, and BioBanking. The company's lead therapeutic programs include CYCART-19, a placental-derived CAR-T therapy, which is in Phase I clinical trial for the treatment of B-cell malignancies; CYNK-001, placental-derived unmodified natural killer (NK) cell that is in Phase I clinical trial to treat acute myeloid leukemia, as well as in Phase I/IIa clinical trial for the treatment of glioblastoma multiforme and COVID-19; CYNK-101, an allogeneic genetically modified NK cell, which is in Phase I clinical trial to treat HER2+ gastric and gastroesophageal cancers; APPL-001, a placenta-derived mesenchymal-like adherent stromal cell that is in a pre-clinical stage for the treatment of Crohn's disease; and PDA-002, a placenta-derived mesenchymal-like adherent stromal cell, which is in pre-clinical stage for the treatment of facioscapulohumeral muscular dystrophy. It also sells and licenses products that are used in surgical and wound care markets, such as Biovance and Interfyl; collects stem cells from umbilical cords and placentas; and provides cells storage under the LifebankUSA brand. The company was incorporated in 2016 and is headquartered in Florham Park, New Jersey.
CELU (Celularity Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $18.9M, a beta of 0.45 versus the broader market, a 52-week range of 0.71-4.35, average daily share volume of 198K, a public-listing history dating back to 2019, approximately 120 full-time employees. These structural characteristics shape how CELU stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.45 indicates CELU has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure.
What is a long put on CELU?
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 CELU snapshot
As of May 15, 2026, spot at $0.79, ATM IV 33.10%, IV rank 3.25%, expected move 9.49%. The long put on CELU 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 CELU specifically: CELU IV at 33.10% is on the cheap side of its 1-year range, which favors premium-buying structures like a CELU long put, with a market-implied 1-standard-deviation move of approximately 9.49% (roughly $0.07 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 CELU expiries trade a higher absolute premium for lower per-day decay. Position sizing on CELU should anchor to the underlying notional of $0.79 per share and to the trader's directional view on CELU stock.
CELU long put setup
The CELU 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 CELU near $0.79, the first option leg uses a $0.79 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CELU 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 CELU shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $0.79 | N/A |
CELU 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.
CELU long put payoff curve
Modeled P&L at expiration across a range of underlying prices for the long put on CELU. 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 CELU
Long puts on CELU hedge an existing long CELU stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying CELU exposure being hedged.
CELU thesis for this long put
The market-implied 1-standard-deviation range for CELU extends from approximately $0.72 on the downside to $0.86 on the upside. A CELU long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long CELU position with one put per 100 shares held. Current CELU IV rank near 3.25% 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 CELU at 33.10%. As a Healthcare name, CELU options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CELU-specific events.
CELU 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. CELU positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CELU alongside the broader basket even when CELU-specific fundamentals are unchanged. Long-premium structures like a long put on CELU 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 CELU chain quotes before placing a trade.
Frequently asked questions
- What is a long put on CELU?
- A long put on CELU is the long put strategy applied to CELU (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 CELU stock trading near $0.79, the strikes shown on this page are snapped to the nearest listed CELU chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are CELU 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 CELU long put priced from the end-of-day chain at a 30-day expiry (ATM IV 33.10%), 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 CELU long put?
- The breakeven for the CELU 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 CELU market-implied 1-standard-deviation expected move is approximately 9.49%; 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 CELU?
- Long puts on CELU hedge an existing long CELU stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying CELU exposure being hedged.
- How does current CELU implied volatility affect this long put?
- CELU ATM IV is at 33.10% with IV rank near 3.25%, 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.