CSGP Long Put Strategy

CSGP (CoStar Group, Inc.), in the Real Estate sector, (Real Estate - Services industry), listed on NASDAQ.

CoStar Group, Inc. provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. It offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar COMPS, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information. The company also provides Lease Comps and Analysis, a tool to capture, manage, and maintain lease data; CoStar Lease Analysis; Public Record, a searchable database of commercially-zoned parcels; CoStar Real Estate Manager, a real estate lease administration, portfolio management, and lease accounting compliance software solution; and CoStar Risk Analytics and CoStar Investment. In addition, it offers apartment marketing sites, such as ApartmentFinder.com, ForRent.com, ApartmentHomeLiving.com, WestsideRentals.com, AFTER55.com, CorporateHousing.com, ForRentUniversity.com, Apartamentos.com, and Off Campus Partners; LoopNet Premium Lister; LoopNet Diamond, Platinum, and Gold Ads; LandsofAmerica.com, LandAndFarm.com, and LandWatch.com for rural land for-sale; BizBuySell.com, BizQuest.com, and FindaFranchise.com for operating businesses and franchises for-sale; Ten-X, an online auction platform for commercial real estate; and HomeSnap, an online and mobile software platform, as well as Homes.com, a homes for sale listings site. CoStar Group, Inc. was founded in 1987 and is headquartered in Washington, the District of Columbia.

CSGP (CoStar Group, Inc.) trades in the Real Estate sector, specifically Real Estate - Services, with a market capitalization of approximately $13.06B, a trailing P/E of 521.88, a beta of 0.75 versus the broader market, a 52-week range of 31.78-97.43, average daily share volume of 6.6M, a public-listing history dating back to 1998, approximately 8K full-time employees. These structural characteristics shape how CSGP stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.75 places CSGP roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 521.88 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 CSGP?

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 CSGP snapshot

As of May 15, 2026, spot at $32.61, ATM IV 52.70%, IV rank 16.16%, expected move 15.11%. The long put on CSGP 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 CSGP specifically: CSGP IV at 52.70% is on the cheap side of its 1-year range, which favors premium-buying structures like a CSGP long put, with a market-implied 1-standard-deviation move of approximately 15.11% (roughly $4.93 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 CSGP expiries trade a higher absolute premium for lower per-day decay. Position sizing on CSGP should anchor to the underlying notional of $32.61 per share and to the trader's directional view on CSGP stock.

CSGP long put setup

The CSGP 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 CSGP near $32.61, the first option leg uses a $32.61 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CSGP 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 CSGP shares for the stock leg in covered calls and collars).

ActionTypeStrike / BasisPremium (est)
Buy 1Put$32.61N/A

CSGP 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.

CSGP long put payoff curve

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

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

CSGP thesis for this long put

The market-implied 1-standard-deviation range for CSGP extends from approximately $27.68 on the downside to $37.54 on the upside. A CSGP long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long CSGP position with one put per 100 shares held. Current CSGP IV rank near 16.16% 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 CSGP at 52.70%. As a Real Estate name, CSGP options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CSGP-specific events.

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

Frequently asked questions

What is a long put on CSGP?
A long put on CSGP is the long put strategy applied to CSGP (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 CSGP stock trading near $32.61, the strikes shown on this page are snapped to the nearest listed CSGP chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are CSGP 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 CSGP long put priced from the end-of-day chain at a 30-day expiry (ATM IV 52.70%), 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 CSGP long put?
The breakeven for the CSGP 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 CSGP market-implied 1-standard-deviation expected move is approximately 15.11%; 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 CSGP?
Long puts on CSGP hedge an existing long CSGP stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying CSGP exposure being hedged.
How does current CSGP implied volatility affect this long put?
CSGP ATM IV is at 52.70% with IV rank near 16.16%, 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.

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