CLBT Long Put Strategy
CLBT (Cellebrite DI Ltd.), in the Technology sector, (Software - Infrastructure industry), listed on NASDAQ.
Cellebrite DI Ltd. develops solutions for legally sanctioned investigations. Its DI platform allows users to collect, review, analyze, and manage digital data across the investigative lifecycle with respect to legally sanctioned investigations and solutions are used in a various case, including child exploitation, homicide, anti-terror, border control, sexual crimes, human trafficking, corporate security, intellectual property theft, and civil litigation. The company's Universal Forensic Extraction Device solution addresses problems in accessing digital information, including complicated device locks, encryption barriers, deleted and unknown content, and other obstacles that can prevent critical evidence from coming to light. It also offers Seeker solution that provides the ability to analyze video footage; OSINT Analyze, a real-time deep dive solution used to analyze open-source information, such as the surface web, deep web, and the dark web; and Crypto Tracer, which analyzes blockchain transactions together with related data from an extensive list of sources to identify and categorize wallets, and transactions. The company serves federal and state and local agencies, as well as enterprise companies and service providers. It has operations in the United States, Germany, Singapore, Australia, Brazil, United Kingdom, France, Canada, Japan, and India.
CLBT (Cellebrite DI Ltd.) trades in the Technology sector, specifically Software - Infrastructure, with a market capitalization of approximately $3.02B, a trailing P/E of 41.06, a beta of 1.15 versus the broader market, a 52-week range of 11.02-19.98, average daily share volume of 1.8M, a public-listing history dating back to 2020, approximately 1K full-time employees. These structural characteristics shape how CLBT stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.15 places CLBT roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 41.06 is on the rich side, which tends to correlate with higher earnings-window IV expansion as the market debates whether forward growth supports the multiple.
What is a long put on CLBT?
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 CLBT snapshot
As of May 15, 2026, spot at $12.98, ATM IV 55.60%, IV rank 23.17%, expected move 15.94%. The long put on CLBT 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 CLBT specifically: CLBT IV at 55.60% is on the cheap side of its 1-year range, which favors premium-buying structures like a CLBT long put, with a market-implied 1-standard-deviation move of approximately 15.94% (roughly $2.07 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 CLBT expiries trade a higher absolute premium for lower per-day decay. Position sizing on CLBT should anchor to the underlying notional of $12.98 per share and to the trader's directional view on CLBT stock.
CLBT long put setup
The CLBT 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 CLBT near $12.98, the first option leg uses a $12.98 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CLBT 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 CLBT shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $12.98 | N/A |
CLBT 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.
CLBT long put payoff curve
Modeled P&L at expiration across a range of underlying prices for the long put on CLBT. 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 CLBT
Long puts on CLBT hedge an existing long CLBT stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying CLBT exposure being hedged.
CLBT thesis for this long put
The market-implied 1-standard-deviation range for CLBT extends from approximately $10.91 on the downside to $15.05 on the upside. A CLBT long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long CLBT position with one put per 100 shares held. Current CLBT IV rank near 23.17% 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 CLBT at 55.60%. As a Technology name, CLBT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CLBT-specific events.
CLBT 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. CLBT positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CLBT alongside the broader basket even when CLBT-specific fundamentals are unchanged. Long-premium structures like a long put on CLBT 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 CLBT chain quotes before placing a trade.
Frequently asked questions
- What is a long put on CLBT?
- A long put on CLBT is the long put strategy applied to CLBT (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 CLBT stock trading near $12.98, the strikes shown on this page are snapped to the nearest listed CLBT chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are CLBT 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 CLBT long put priced from the end-of-day chain at a 30-day expiry (ATM IV 55.60%), 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 CLBT long put?
- The breakeven for the CLBT 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 CLBT market-implied 1-standard-deviation expected move is approximately 15.94%; 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 CLBT?
- Long puts on CLBT hedge an existing long CLBT stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying CLBT exposure being hedged.
- How does current CLBT implied volatility affect this long put?
- CLBT ATM IV is at 55.60% with IV rank near 23.17%, 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.