How are COHU 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 COHU long put priced from the November 13, 2026 end-of-day chain at a 30-day expiry (ATM IV 81.10%), the computed maximum profit is $3,984.00 per contract and the computed maximum loss is -$515.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a COHU long put?

The breakeven for the COHU long put priced on this page is roughly $39.85 at expiration, derived from the November 13, 2026 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 COHU market-implied 1-standard-deviation expected move in the same options snapshot is approximately 23.25%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current COHU implied volatility affect this long put?

COHU ATM IV is at 81.10% with IV rank near 56.15%, 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.

COHU Long Put Strategy

COHU (Cohu, Inc.), in the Technology sector, (Semiconductors industry), listed on NASDAQ.

Cohu, Inc. stands as a prominent global provider of advanced semiconductor test equipment and comprehensive associated services. Operating through its various subsidiaries, the company extends its reach across key international markets including China, the United States, Taiwan, Malaysia, and the Philippines. Its diverse product portfolio caters to semiconductor and electronics manufacturers, as well as test subcontractors, encompassing crucial equipment such as automated test equipment (ATE) for both wafer-level and device package testing, and a wide array of test and inspection handlers. These handlers include specialized pick-and-place, turret, gravity, strip, and advanced micro-electromechanical system (MEMS) and thermal sub-systems. Cohu also offers vital interface components like test contactors, probe heads, and pins. Beyond hardware, Cohu delivers extensive post-sales support, including spare parts and kits, robust parts and labor warranties for its systems and instruments, and essential training for system maintenance and operation.

COHU (Cohu, Inc.) trades in the Technology sector, specifically Semiconductors, with a market capitalization of approximately $2.06B, a beta of 1.61 versus the broader market, a 52-week range of 21.1-75.72, average daily share volume of 1.1M, a public-listing history dating back to 1980, approximately 3K full-time employees. These structural characteristics shape how COHU stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.61 indicates COHU has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.

What is a long put on COHU?

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.

COHU snapshot

As of November 13, 2026, spot at $43.33, ATM IV 81.10%, IV rank 56.15%, expected move 23.25%. The long put on COHU below is built from the November 13, 2026 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 COHU specifically: COHU IV at 81.10% 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 23.25% (roughly $10.07 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 COHU expiries trade a higher absolute premium for lower per-day decay. Position sizing on COHU should anchor to the underlying notional of $43.33 per share and to the trader's directional view on COHU stock.

COHU long put setup

The COHU long put below is built from the November 13, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With COHU at $43.33 on that close, the first option leg uses a $45.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed COHU 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 COHU shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Put	$45.00	$5.15

COHU long put risk and reward

Net Premium / Debit: -$515.00
Max Profit (per contract): $3,984.00
Max Loss (per contract): -$515.00
Breakeven(s): $39.85
Risk / Reward Ratio: 7.736

Max profit equals the strike minus premium times 100 (reached at zero); max loss equals the premium times 100. Breakeven is strike minus premium.

COHU long put payoff curve

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

P&L at expiration across the modeled underlying-price range. Green shading marks profitable regions, red shading marks loss regions. Dotted purple verticals mark breakevens; the solid dark vertical marks current spot.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-100.0%	+$3,984.00
$9.59	-77.9%	+$3,026.06
$19.17	-55.8%	+$2,068.12
$28.75	-33.7%	+$1,110.18
$38.33	-11.5%	+$152.24
$47.91	+10.6%	-$515.00
$57.49	+32.7%	-$515.00
$67.07	+54.8%	-$515.00
$76.65	+76.9%	-$515.00
$86.22	+99.0%	-$515.00

When traders use long put on COHU

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

COHU thesis for this long put

The market-implied 1-standard-deviation range for COHU extends from approximately $33.26 on the downside to $53.40 on the upside. A COHU long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long COHU position with one put per 100 shares held. Current COHU IV rank near 56.15% is mid-range against its 1-year distribution, so the IV signal is neutral; the long put thesis on COHU should anchor more to the directional view and the expected-move geometry. As a Technology name, COHU options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to COHU-specific events.

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

Frequently asked questions

What is a long put on COHU?: A long put on COHU is the long put strategy applied to COHU (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 COHU stock at $43.33 on the November 13, 2026 close, the strikes shown on this page are snapped to the nearest listed COHU chain strike and the premiums come straight from that session's bid/ask midpoint.
How are COHU 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 COHU long put priced from the November 13, 2026 end-of-day chain at a 30-day expiry (ATM IV 81.10%), the computed maximum profit is $3,984.00 per contract and the computed maximum loss is -$515.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a COHU long put?: The breakeven for the COHU long put priced on this page is roughly $39.85 at expiration, derived from the November 13, 2026 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 COHU market-implied 1-standard-deviation expected move in the same options snapshot is approximately 23.25%; 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 COHU?: Long puts on COHU hedge an existing long COHU stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying COHU exposure being hedged.
How does current COHU implied volatility affect this long put?: COHU ATM IV is at 81.10% with IV rank near 56.15%, 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.