CHRW Long Put Strategy
CHRW (C.H. Robinson Worldwide, Inc.), in the Industrials sector, (Integrated Freight & Logistics industry), listed on NASDAQ.
C.H. Robinson Worldwide, Inc., together with its subsidiaries, provides freight transportation services and logistics solutions to companies in various industries worldwide. The company operates in two segments, North American Surface Transportation and Global Forwarding. It offers transportation and logistics services, such as truckload; less than truckload transportation brokerage services, which include the shipment of single or multiple pallets of freight; intermodal transportation that comprise the shipment service of freight in containers or trailers by a combination of truck and rail; and non-vessel ocean common carrier and freight forwarding services, as well as organizes air shipments and provides door-to-door services. The company also offers customs broker services; and other logistics services, such as fee-based managed, warehousing, small parcel, and other services. It has contractual relationships with approximately 85,000 transportation companies, including motor carriers, railroads, and air and ocean carriers.
CHRW (C.H. Robinson Worldwide, Inc.) trades in the Industrials sector, specifically Integrated Freight & Logistics, with a market capitalization of approximately $19.24B, a trailing P/E of 32.65, a beta of 0.94 versus the broader market, a 52-week range of 92.36-203.34, average daily share volume of 2.0M, a public-listing history dating back to 1997, approximately 13K full-time employees. These structural characteristics shape how CHRW stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.94 places CHRW roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. CHRW pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a long put on CHRW?
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 CHRW snapshot
As of May 15, 2026, spot at $164.19, ATM IV 35.80%, IV rank 43.11%, expected move 10.26%. The long put on CHRW 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 CHRW specifically: CHRW IV at 35.80% 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 10.26% (roughly $16.85 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 CHRW expiries trade a higher absolute premium for lower per-day decay. Position sizing on CHRW should anchor to the underlying notional of $164.19 per share and to the trader's directional view on CHRW stock.
CHRW long put setup
The CHRW 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 CHRW near $164.19, the first option leg uses a $165.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CHRW 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 CHRW shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $165.00 | $7.65 |
CHRW long put risk and reward
- Net Premium / Debit
- -$765.00
- Max Profit (per contract)
- $15,734.00
- Max Loss (per contract)
- -$765.00
- Breakeven(s)
- $157.35
- Risk / Reward Ratio
- 20.567
Max profit equals the strike minus premium times 100 (reached at zero); max loss equals the premium times 100. Breakeven is strike minus premium.
CHRW long put payoff curve
Modeled P&L at expiration across a range of underlying prices for the long put on CHRW. 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 | -100.0% | +$15,734.00 |
| $36.31 | -77.9% | +$12,103.78 |
| $72.61 | -55.8% | +$8,473.56 |
| $108.92 | -33.7% | +$4,843.34 |
| $145.22 | -11.6% | +$1,213.12 |
| $181.52 | +10.6% | -$765.00 |
| $217.82 | +32.7% | -$765.00 |
| $254.13 | +54.8% | -$765.00 |
| $290.43 | +76.9% | -$765.00 |
| $326.73 | +99.0% | -$765.00 |
When traders use long put on CHRW
Long puts on CHRW hedge an existing long CHRW stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying CHRW exposure being hedged.
CHRW thesis for this long put
The market-implied 1-standard-deviation range for CHRW extends from approximately $147.34 on the downside to $181.04 on the upside. A CHRW long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long CHRW position with one put per 100 shares held. Current CHRW IV rank near 43.11% is mid-range against its 1-year distribution, so the IV signal is neutral; the long put thesis on CHRW should anchor more to the directional view and the expected-move geometry. As a Industrials name, CHRW options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CHRW-specific events.
CHRW 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. CHRW positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CHRW alongside the broader basket even when CHRW-specific fundamentals are unchanged. Long-premium structures like a long put on CHRW 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 CHRW chain quotes before placing a trade.
Frequently asked questions
- What is a long put on CHRW?
- A long put on CHRW is the long put strategy applied to CHRW (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 CHRW stock trading near $164.19, the strikes shown on this page are snapped to the nearest listed CHRW chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are CHRW 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 CHRW long put priced from the end-of-day chain at a 30-day expiry (ATM IV 35.80%), the computed maximum profit is $15,734.00 per contract and the computed maximum loss is -$765.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a CHRW long put?
- The breakeven for the CHRW long put priced on this page is roughly $157.35 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 CHRW market-implied 1-standard-deviation expected move is approximately 10.26%; 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 CHRW?
- Long puts on CHRW hedge an existing long CHRW stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying CHRW exposure being hedged.
- How does current CHRW implied volatility affect this long put?
- CHRW ATM IV is at 35.80% with IV rank near 43.11%, 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.