CVRX Long Put Strategy
CVRX (CVRx, Inc.), in the Healthcare sector, (Medical - Devices industry), listed on NASDAQ.
CVRx, Inc. is a commercial-stage medical technology company focused on innovating, producing, and bringing to market neuromodulation solutions designed for individuals battling cardiovascular diseases. Its principal offering, Barostim, is an advanced neuromodulation device specifically indicated to ameliorate symptoms for patients diagnosed with heart failure characterized by reduced ejection fraction, often referred to as systolic heart failure. The company employs a diverse distribution strategy, leveraging its internal sales force, alongside sales agents and independent distributors, to reach markets across the United States, Germany, the wider European continent, and other global territories. Incorporated in 2000, CVRx, Inc. is headquartered in Minneapolis, Minnesota.
CVRX (CVRx, Inc.) trades in the Healthcare sector, specifically Medical - Devices, with a market capitalization of approximately $81.7M, a beta of 0.82 versus the broader market, a 52-week range of 2.2-11.3, average daily share volume of 559K, a public-listing history dating back to 2021, approximately 223 full-time employees. These structural characteristics shape how CVRX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.82 places CVRX roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.
What is a long put on CVRX?
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.
CVRX snapshot
As of August 14, 2026, spot at $3.12, ATM IV 92.00%, IV rank 15.44%, expected move 26.38%. The long put on CVRX 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 CVRX specifically: CVRX IV at 92.00% is on the cheap side of its 1-year range, which favors premium-buying structures like a CVRX long put, with a market-implied 1-standard-deviation move of approximately 26.38% (roughly $0.82 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 CVRX expiries trade a higher absolute premium for lower per-day decay. Position sizing on CVRX should anchor to the underlying notional of $3.12 per share and to the trader's directional view on CVRX stock.
CVRX long put setup
The CVRX 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 CVRX at $3.12 on that close, the first option leg uses a $3.12 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CVRX 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 CVRX shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $3.12 | N/A |
CVRX 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.
CVRX long put payoff curve
Modeled P&L at expiration across a range of underlying prices for the long put on CVRX. 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 CVRX
Long puts on CVRX hedge an existing long CVRX stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying CVRX exposure being hedged.
CVRX thesis for this long put
The market-implied 1-standard-deviation range for CVRX extends from approximately $2.30 on the downside to $3.94 on the upside. A CVRX long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long CVRX position with one put per 100 shares held. Current CVRX IV rank near 15.44% 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 CVRX at 92.00%. As a Healthcare name, CVRX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CVRX-specific events.
CVRX 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. CVRX positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CVRX alongside the broader basket even when CVRX-specific fundamentals are unchanged. Long-premium structures like a long put on CVRX 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 CVRX chain quotes before placing a trade.
Frequently asked questions
- What is a long put on CVRX?
- A long put on CVRX is the long put strategy applied to CVRX (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 CVRX stock at $3.12 on the most recent close, the strikes shown on this page are snapped to the nearest listed CVRX chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are CVRX 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 CVRX long put priced from the end-of-day chain at a 30-day expiry (ATM IV 92.00%), 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 CVRX long put?
- The breakeven for the CVRX 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 CVRX market-implied 1-standard-deviation expected move in the same options snapshot is approximately 26.38%; 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 CVRX?
- Long puts on CVRX hedge an existing long CVRX stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying CVRX exposure being hedged.
- How does current CVRX implied volatility affect this long put?
- CVRX ATM IV is at 92.00% with IV rank near 15.44%, 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.