CRBP Long Put Strategy
CRBP (Corbus Pharmaceuticals Holdings, Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
Corbus Pharmaceuticals Holdings, Inc. is an oncology company, which engages in research, development, and commercializing therapeutics for cancer and obesity. Its pipeline includes CRB-701, an antibody drug conjugate (ADC) that targets the expression of Nectin-4 on cancer cells to release a cytotoxic payload, CRB-601, an anti-integrin monoclonal antibody that blocks the activation of TGFß expressed on cancer cells, and CRB-913, a highly peripherally restricted cannabinoid type-1 (CB1) receptor inverse agonist for the treatment of obesity. The company was founded in April 2009 and is headquartered in Norwood, MA.
CRBP (Corbus Pharmaceuticals Holdings, Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $180.8M, a beta of 2.56 versus the broader market, a 52-week range of 7.12-20.56, average daily share volume of 421K, a public-listing history dating back to 2014, approximately 36 full-time employees. These structural characteristics shape how CRBP stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.56 indicates CRBP 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 CRBP?
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.
CRBP snapshot
As of August 14, 2026, spot at $10.11, ATM IV 111.50%, IV rank 25.46%, expected move 31.97%. The long put on CRBP 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 CRBP specifically: CRBP IV at 111.50% is on the cheap side of its 1-year range, which favors premium-buying structures like a CRBP long put, with a market-implied 1-standard-deviation move of approximately 31.97% (roughly $3.23 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 CRBP expiries trade a higher absolute premium for lower per-day decay. Position sizing on CRBP should anchor to the underlying notional of $10.11 per share and to the trader's directional view on CRBP stock.
CRBP long put setup
The CRBP 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 CRBP at $10.11 on that close, the first option leg uses a $10.11 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CRBP 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 CRBP shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $10.11 | N/A |
CRBP 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.
CRBP long put payoff curve
Modeled P&L at expiration across a range of underlying prices for the long put on CRBP. 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 CRBP
Long puts on CRBP hedge an existing long CRBP stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying CRBP exposure being hedged.
CRBP thesis for this long put
The market-implied 1-standard-deviation range for CRBP extends from approximately $6.88 on the downside to $13.34 on the upside. A CRBP long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long CRBP position with one put per 100 shares held. Current CRBP IV rank near 25.46% 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 CRBP at 111.50%. As a Healthcare name, CRBP options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CRBP-specific events.
CRBP 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. CRBP positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CRBP alongside the broader basket even when CRBP-specific fundamentals are unchanged. Long-premium structures like a long put on CRBP 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 CRBP chain quotes before placing a trade.
Frequently asked questions
- What is a long put on CRBP?
- A long put on CRBP is the long put strategy applied to CRBP (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 CRBP stock at $10.11 on the most recent close, the strikes shown on this page are snapped to the nearest listed CRBP chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are CRBP 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 CRBP long put priced from the end-of-day chain at a 30-day expiry (ATM IV 111.50%), 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 CRBP long put?
- The breakeven for the CRBP 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 CRBP market-implied 1-standard-deviation expected move in the same options snapshot is approximately 31.97%; 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 CRBP?
- Long puts on CRBP hedge an existing long CRBP stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying CRBP exposure being hedged.
- How does current CRBP implied volatility affect this long put?
- CRBP ATM IV is at 111.50% with IV rank near 25.46%, 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.