CLBT Long Put Strategy
CLBT (Cellebrite DI Ltd.), in the Technology sector, (Software - Infrastructure industry), listed on NASDAQ.
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CLBT (Cellebrite DI Ltd.) trades in the Technology sector, specifically Software - Infrastructure, with a market capitalization of approximately $3.80B, a trailing P/E of 52.30, a beta of 1.17 versus the broader market, a 52-week range of 11.02-19.98, average daily share volume of 1.9M, 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 1.17 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 52.30 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.
CLBT snapshot
As of August 14, 2026, spot at $11.11, ATM IV 57.40%, IV rank 20.61%, expected move 16.46%. The long put on CLBT below is built from the end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.
Why this long put structure on CLBT specifically: CLBT IV at 57.40% 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 16.46% (roughly $1.83 on the underlying). The 35-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 $11.11 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 at $11.11 on that close, the first option leg uses a $11.11 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 35-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 | $11.11 | 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 $9.28 on the downside to $12.94 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 20.61% 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 57.40%. 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 at $11.11 on the most recent close, the strikes shown on this page are snapped to the nearest listed CLBT chain strike and the premiums come straight from that session's 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 57.40%), 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 the end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The CLBT market-implied 1-standard-deviation expected move in the same options snapshot is approximately 16.46%; 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 57.40% with IV rank near 20.61%, 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.