CLB Long Put Strategy

CLB (Core Laboratories N.V.), in the Energy sector, (Oil & Gas Equipment & Services industry), listed on NYSE.

Core Laboratories N.V. (CLB) is a global provider to the oil and gas sector, delivering specialized services and products for characterizing subterranean reservoirs and optimizing hydrocarbon extraction. The company's operations are distinctly segmented into Reservoir Description and Production Enhancement. The Reservoir Description division meticulously analyzes petroleum reservoir rock, fluid, and gas samples. This detailed scientific examination aims to boost the yield and enhance the recovery of oil and gas from clients' reservoirs. Offerings in this segment encompass comprehensive laboratory analysis and on-site field evaluations to determine the properties of crude oil and refined products, alongside performing proprietary and collaborative industry research studies. Conversely, the Production Enhancement segment furnishes an array of services and products vital for well completions, perforations, stimulation processes, and general production activities.

CLB (Core Laboratories N.V.) trades in the Energy sector, specifically Oil & Gas Equipment & Services, with a market capitalization of approximately $508.0M, a trailing P/E of 17.49, a beta of 0.99 versus the broader market, a 52-week range of 9.72-20.36, average daily share volume of 530K, a public-listing history dating back to 1995, approximately 3K full-time employees. These structural characteristics shape how CLB stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.99 places CLB roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. CLB pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a long put on CLB?

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 CLB snapshot

As of June 30, 2026, spot at $11.56, ATM IV 201.20%, IV rank 44.58%, expected move 57.68%. The long put on CLB 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 CLB specifically: CLB IV at 201.20% 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 57.68% (roughly $6.67 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 CLB expiries trade a higher absolute premium for lower per-day decay. Position sizing on CLB should anchor to the underlying notional of $11.56 per share and to the trader's directional view on CLB stock.

CLB long put setup

The CLB 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 CLB near $11.56, the first option leg uses a $11.56 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CLB 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 CLB shares for the stock leg in covered calls and collars).

ActionTypeStrike / BasisPremium (est)
Buy 1Put$11.56N/A

CLB 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.

CLB long put payoff curve

Modeled P&L at expiration across a range of underlying prices for the long put on CLB. 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 CLB

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

CLB thesis for this long put

The market-implied 1-standard-deviation range for CLB extends from approximately $4.89 on the downside to $18.23 on the upside. A CLB long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long CLB position with one put per 100 shares held. Current CLB IV rank near 44.58% is mid-range against its 1-year distribution, so the IV signal is neutral; the long put thesis on CLB should anchor more to the directional view and the expected-move geometry. As a Energy name, CLB options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CLB-specific events.

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

Frequently asked questions

What is a long put on CLB?
A long put on CLB is the long put strategy applied to CLB (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 CLB stock trading near $11.56, the strikes shown on this page are snapped to the nearest listed CLB chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are CLB 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 CLB long put priced from the end-of-day chain at a 30-day expiry (ATM IV 201.20%), 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 CLB long put?
The breakeven for the CLB 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 CLB market-implied 1-standard-deviation expected move is approximately 57.68%; 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 CLB?
Long puts on CLB hedge an existing long CLB stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying CLB exposure being hedged.
How does current CLB implied volatility affect this long put?
CLB ATM IV is at 201.20% with IV rank near 44.58%, 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.

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