How are GOLF strangle max profit and max loss calculated?

Upside max profit is unbounded; downside max profit is bounded at the put strike minus the combined debit (reached at zero). Max loss equals the combined debit times 100 (reached anywhere between the two OTM strikes). Two breakevens at call-strike plus debit and put-strike minus debit. For the GOLF strangle priced from the end-of-day chain at a 30-day expiry (ATM IV 140.70%), the computed maximum profit is unbounded per contract and the computed maximum loss is -$278.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a GOLF strangle?

The breakeven for the GOLF strangle priced on this page is roughly $77.22 and $92.78 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 GOLF market-implied 1-standard-deviation expected move is approximately 40.34%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current GOLF implied volatility affect this strangle?

GOLF ATM IV is at 140.70% with IV rank near 25.80%, 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.

GOLF Strangle Strategy

GOLF (Acushnet Holdings Corp.), in the Consumer Cyclical sector, (Leisure industry), listed on NYSE.

Acushnet Holdings Corp. designs, develops, manufactures, and distributes golf products in the United States, Europe, the Middle East, Africa, Japan, Korea, and internationally. The company operates through four segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, and FootJoy Golf Wear. It offers golf balls under the Titleist brand; golf clubs, such as drivers, fairways, hybrids, and irons under the Titleist brand name; wedges under the Vokey Design brand; and putters under the Scotty Cameron brand. The company also provides golf bags, headwear, golf gloves, travel products, head covers, and other golf accessories, as well as offers customization and personalization of products in Titleist golf gear. In addition, it offers golf shoes, gloves, golf outerwear, and men's and women's golf apparels under the FootJoy brand; and ski, golf, and lifestyle apparels under the KJUS brand name. It sells its products through on-course golf shops and golf specialty retailers, as well as through representatives, other retailers, and online.

GOLF (Acushnet Holdings Corp.) trades in the Consumer Cyclical sector, specifically Leisure, with a market capitalization of approximately $4.95B, a trailing P/E of 29.66, a beta of 0.89 versus the broader market, a 52-week range of 67.14-104.81, average daily share volume of 359K, a public-listing history dating back to 2016, approximately 7K full-time employees. These structural characteristics shape how GOLF stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.89 places GOLF roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. GOLF pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a strangle on GOLF?

A long strangle buys an OTM call and an OTM put at offset strikes, cheaper than a straddle but requiring a larger underlying move to profit since both wings start out-of-the-money.

Current GOLF snapshot

As of May 15, 2026, spot at $85.64, ATM IV 140.70%, IV rank 25.80%, expected move 40.34%. The strangle on GOLF 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 strangle structure on GOLF specifically: GOLF IV at 140.70% is on the cheap side of its 1-year range, which favors premium-buying structures like a GOLF strangle, with a market-implied 1-standard-deviation move of approximately 40.34% (roughly $34.54 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 GOLF expiries trade a higher absolute premium for lower per-day decay. Position sizing on GOLF should anchor to the underlying notional of $85.64 per share and to the trader's directional view on GOLF stock.

GOLF strangle setup

The GOLF strangle below is built from the end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With GOLF near $85.64, the first option leg uses a $90.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed GOLF 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 GOLF shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$90.00	$1.71
Buy 1	Put	$80.00	$1.07

GOLF strangle risk and reward

Net Premium / Debit: -$278.00
Max Profit (per contract): Unbounded
Max Loss (per contract): -$278.00
Breakeven(s): $77.22, $92.78
Risk / Reward Ratio: Unbounded

Upside max profit is unbounded; downside max profit is bounded at the put strike minus the combined debit (reached at zero). Max loss equals the combined debit times 100 (reached anywhere between the two OTM strikes). Two breakevens at call-strike plus debit and put-strike minus debit.

GOLF strangle payoff curve

Modeled P&L at expiration across a range of underlying prices for the strangle on GOLF. 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%	+$7,721.00
$18.94	-77.9%	+$5,827.56
$37.88	-55.8%	+$3,934.13
$56.81	-33.7%	+$2,040.69
$75.75	-11.6%	+$147.25
$94.68	+10.6%	+$190.19
$113.62	+32.7%	+$2,083.62
$132.55	+54.8%	+$3,977.06
$151.48	+76.9%	+$5,870.50
$170.42	+99.0%	+$7,763.93

When traders use strangle on GOLF

Strangles on GOLF are the cheaper cousin of the straddle - traders use them when they want a large directional move but are willing to give up the inner-strike sensitivity in exchange for a lower up-front debit on the GOLF chain.

GOLF thesis for this strangle

The market-implied 1-standard-deviation range for GOLF extends from approximately $51.10 on the downside to $120.18 on the upside. A GOLF long strangle is the OTM cousin of the straddle: lower up-front cost but the underlying has to travel further past either OTM strike before the position turns profitable at expiration. Current GOLF IV rank near 25.80% 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 GOLF at 140.70%. As a Consumer Cyclical name, GOLF options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to GOLF-specific events.

GOLF strangle positions are structurally neutral / high-volatility (long premium, OTM); 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. GOLF positions also carry Consumer Cyclical sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move GOLF alongside the broader basket even when GOLF-specific fundamentals are unchanged. Always rebuild the position from current GOLF chain quotes before placing a trade.

Frequently asked questions

What is a strangle on GOLF?: A strangle on GOLF is the strangle strategy applied to GOLF (stock). The strategy is structurally neutral / high-volatility (long premium, OTM): A long strangle buys an OTM call and an OTM put at offset strikes, cheaper than a straddle but requiring a larger underlying move to profit since both wings start out-of-the-money. With GOLF stock trading near $85.64, the strikes shown on this page are snapped to the nearest listed GOLF chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are GOLF strangle max profit and max loss calculated?: Upside max profit is unbounded; downside max profit is bounded at the put strike minus the combined debit (reached at zero). Max loss equals the combined debit times 100 (reached anywhere between the two OTM strikes). Two breakevens at call-strike plus debit and put-strike minus debit. For the GOLF strangle priced from the end-of-day chain at a 30-day expiry (ATM IV 140.70%), the computed maximum profit is unbounded per contract and the computed maximum loss is -$278.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a GOLF strangle?: The breakeven for the GOLF strangle priced on this page is roughly $77.22 and $92.78 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 GOLF market-implied 1-standard-deviation expected move is approximately 40.34%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a strangle on GOLF?: Strangles on GOLF are the cheaper cousin of the straddle - traders use them when they want a large directional move but are willing to give up the inner-strike sensitivity in exchange for a lower up-front debit on the GOLF chain.
How does current GOLF implied volatility affect this strangle?: GOLF ATM IV is at 140.70% with IV rank near 25.80%, 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.