CVEO Long Put Strategy
CVEO (Civeo Corporation), in the Consumer Cyclical sector, (Travel Lodging industry), listed on NYSE.
Civeo Corporation specializes in providing comprehensive hospitality and lodging solutions for the natural resource sector across Canada, Australia, and the United States. The company constructs and operates both permanent and temporary workforce accommodations, including large-scale lodges and villages, as well as versatile mobile units like modular and skid-mounted camps. Beyond housing, Civeo delivers a broad spectrum of integrated support services, such as catering, housekeeping, property maintenance, laundry, utility provision (including water/wastewater treatment and power generation), communication systems, security, and logistics. They also offer full development capabilities for these facilities, encompassing site selection, regulatory permitting, engineering design, manufacturing coordination, and on-site construction. With ownership and operation of 27 lodges and villages featuring approximately 28,000 rooms, alongside a fleet of mobile accommodation assets, Civeo serves major clients in the oil, mining, engineering, and associated service industries. The company's headquarters are located in Houston, Texas.
CVEO (Civeo Corporation) trades in the Consumer Cyclical sector, specifically Travel Lodging, with a market capitalization of approximately $369.0M, a beta of 0.70 versus the broader market, a 52-week range of 20.97-38.06, average daily share volume of 142K, a public-listing history dating back to 2014, approximately 3K full-time employees. These structural characteristics shape how CVEO stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.70 indicates CVEO has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure.
What is a long put on CVEO?
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.
CVEO snapshot
As of November 13, 2026, spot at $35.86, ATM IV 57.50%, IV rank 86.11%, expected move 16.48%. The long put on CVEO 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 CVEO specifically: CVEO IV at 57.50% is rich versus its 1-year range, which makes a premium-buying CVEO long put relatively expensive in absolute-cost terms, with a market-implied 1-standard-deviation move of approximately 16.48% (roughly $5.91 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 CVEO expiries trade a higher absolute premium for lower per-day decay. Position sizing on CVEO should anchor to the underlying notional of $35.86 per share and to the trader's directional view on CVEO stock.
CVEO long put setup
The CVEO 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 CVEO at $35.86 on that close, the first option leg uses a $36.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CVEO 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 CVEO shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $36.00 | $2.15 |
CVEO long put risk and reward
- Net Premium / Debit
- -$215.00
- Max Profit (per contract)
- $3,384.00
- Max Loss (per contract)
- -$215.00
- Breakeven(s)
- $33.85
- Risk / Reward Ratio
- 15.740
Max profit equals the strike minus premium times 100 (reached at zero); max loss equals the premium times 100. Breakeven is strike minus premium.
CVEO long put payoff curve
Modeled P&L at expiration across a range of underlying prices for the long put on CVEO. 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.
| Underlying Price | % From Spot | P&L at Expiration |
|---|---|---|
| $0.01 | -100.0% | +$3,384.00 |
| $7.94 | -77.9% | +$2,591.23 |
| $15.87 | -55.8% | +$1,798.45 |
| $23.79 | -33.6% | +$1,005.68 |
| $31.72 | -11.5% | +$212.90 |
| $39.65 | +10.6% | -$215.00 |
| $47.58 | +32.7% | -$215.00 |
| $55.50 | +54.8% | -$215.00 |
| $63.43 | +76.9% | -$215.00 |
| $71.36 | +99.0% | -$215.00 |
When traders use long put on CVEO
Long puts on CVEO hedge an existing long CVEO stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying CVEO exposure being hedged.
CVEO thesis for this long put
The market-implied 1-standard-deviation range for CVEO extends from approximately $29.95 on the downside to $41.77 on the upside. A CVEO long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long CVEO position with one put per 100 shares held. Current CVEO IV rank near 86.11% sits in the upper third of its 1-year distribution, which historically reverts; this raises the bar for premium-buying structures and lowers it for premium-selling structures on CVEO at 57.50%. As a Consumer Cyclical name, CVEO options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CVEO-specific events.
CVEO 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. CVEO positions also carry Consumer Cyclical sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CVEO alongside the broader basket even when CVEO-specific fundamentals are unchanged. Long-premium structures like a long put on CVEO 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 CVEO chain quotes before placing a trade.
Frequently asked questions
- What is a long put on CVEO?
- A long put on CVEO is the long put strategy applied to CVEO (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 CVEO stock at $35.86 on the November 13, 2026 close, the strikes shown on this page are snapped to the nearest listed CVEO chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are CVEO 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 CVEO long put priced from the November 13, 2026 end-of-day chain at a 30-day expiry (ATM IV 57.50%), the computed maximum profit is $3,384.00 per contract and the computed maximum loss is -$215.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a CVEO long put?
- The breakeven for the CVEO long put priced on this page is roughly $33.85 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 CVEO market-implied 1-standard-deviation expected move in the same options snapshot is approximately 16.48%; 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 CVEO?
- Long puts on CVEO hedge an existing long CVEO stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying CVEO exposure being hedged.
- How does current CVEO implied volatility affect this long put?
- CVEO ATM IV is at 57.50% with IV rank near 86.11%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.