How are FDX 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 FDX long put priced from the end-of-day chain at a 30-day expiry (ATM IV 31.38%), the computed maximum profit is $36,226.50 per contract and the computed maximum loss is -$1,272.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a FDX long put?

The breakeven for the FDX long put priced on this page is roughly $362.28 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 FDX market-implied 1-standard-deviation expected move is approximately 9.00%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current FDX implied volatility affect this long put?

FDX ATM IV is at 31.38% with IV rank near 40.95%, 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.

FDX Long Put Strategy

FDX (FedEx Corporation), in the Industrials sector, (Integrated Freight & Logistics industry), listed on NYSE.

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions. Its FedEx Ground segment provides day-certain delivery services to businesses and residences. The company's FedEx Freight segment offers less-than-truckload freight transportation services. As of May 31, 2022, this segment had approximately 30,000 vehicles and 400 service centers. Its FedEx Services segment provides sales, marketing, information technology, communications, customer service, technical support, billing and collection, and back-office support services.

FDX (FedEx Corporation) trades in the Industrials sector, specifically Integrated Freight & Logistics, with a market capitalization of approximately $88.21B, a trailing P/E of 20.04, a beta of 1.30 versus the broader market, a 52-week range of 214.35-404.03, average daily share volume of 1.8M, a public-listing history dating back to 1978, approximately 306K full-time employees. These structural characteristics shape how FDX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.30 indicates FDX has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. FDX pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a long put on FDX?

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 FDX snapshot

As of May 15, 2026, spot at $376.00, ATM IV 31.38%, IV rank 40.95%, expected move 9.00%. The long put on FDX 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 28-day expiry.

Why this long put structure on FDX specifically: FDX IV at 31.38% 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 9.00% (roughly $33.82 on the underlying). The 28-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated FDX expiries trade a higher absolute premium for lower per-day decay. Position sizing on FDX should anchor to the underlying notional of $376.00 per share and to the trader's directional view on FDX stock.

FDX long put setup

The FDX 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 FDX near $376.00, the first option leg uses a $375.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed FDX chain at a 28-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 FDX shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Put	$375.00	$12.73

FDX long put risk and reward

Net Premium / Debit: -$1,272.50
Max Profit (per contract): $36,226.50
Max Loss (per contract): -$1,272.50
Breakeven(s): $362.28
Risk / Reward Ratio: 28.469

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

FDX long put payoff curve

Modeled P&L at expiration across a range of underlying prices for the long put on FDX. 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%	+$36,226.50
$83.14	-77.9%	+$27,913.04
$166.28	-55.8%	+$19,599.59
$249.41	-33.7%	+$11,286.13
$332.55	-11.6%	+$2,972.67
$415.68	+10.6%	-$1,272.50
$498.82	+32.7%	-$1,272.50
$581.95	+54.8%	-$1,272.50
$665.09	+76.9%	-$1,272.50
$748.22	+99.0%	-$1,272.50

When traders use long put on FDX

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

FDX thesis for this long put

The market-implied 1-standard-deviation range for FDX extends from approximately $342.18 on the downside to $409.82 on the upside. A FDX long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long FDX position with one put per 100 shares held. Current FDX IV rank near 40.95% is mid-range against its 1-year distribution, so the IV signal is neutral; the long put thesis on FDX should anchor more to the directional view and the expected-move geometry. As a Industrials name, FDX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to FDX-specific events.

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

Frequently asked questions

What is a long put on FDX?: A long put on FDX is the long put strategy applied to FDX (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 FDX stock trading near $376.00, the strikes shown on this page are snapped to the nearest listed FDX chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are FDX 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 FDX long put priced from the end-of-day chain at a 30-day expiry (ATM IV 31.38%), the computed maximum profit is $36,226.50 per contract and the computed maximum loss is -$1,272.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a FDX long put?: The breakeven for the FDX long put priced on this page is roughly $362.28 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 FDX market-implied 1-standard-deviation expected move is approximately 9.00%; 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 FDX?: Long puts on FDX hedge an existing long FDX stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying FDX exposure being hedged.
How does current FDX implied volatility affect this long put?: FDX ATM IV is at 31.38% with IV rank near 40.95%, 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.