HCKT Long Put Strategy
HCKT (The Hackett Group, Inc.), in the Technology sector, (Information Technology Services industry), listed on NASDAQ.
The Hackett Group, Inc. is a strategic consulting and technology advisory firm operating across North America and globally. The company provides a comprehensive suite of services designed to enhance organizational performance, including its best practice intelligence center, an extensive online database. It also offers best practice accelerators, which give web-based access to established methodologies, bespoke software configuration tools, and optimized process flows. Clients can utilize advisor inquiry for expert, evidence-based guidance, and access best practice research for deep insights into successful strategies. Peer interaction opportunities are facilitated through member webcasts, annual conferences, forums, performance surveys, and client-contributed content, alongside intellectual property-as-a-service and Hackett Institute programs. Furthermore, Hackett specializes in benchmarking services, conducting detailed studies across areas such as sales, general and administrative functions, finance, human resources, information technology, procurement, enterprise performance management, and shared services.
HCKT (The Hackett Group, Inc.) trades in the Technology sector, specifically Information Technology Services, with a market capitalization of approximately $284.4M, a trailing P/E of 20.18, a beta of 0.93 versus the broader market, a 52-week range of 9.16-26.09, average daily share volume of 369K, a public-listing history dating back to 1998, approximately 2K full-time employees. These structural characteristics shape how HCKT stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.93 places HCKT roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. HCKT pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a long put on HCKT?
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 HCKT snapshot
As of June 30, 2026, spot at $10.81, ATM IV 136.20%, IV rank 42.33%, expected move 39.05%. The long put on HCKT 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 17-day expiry.
Why this long put structure on HCKT specifically: HCKT IV at 136.20% 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 39.05% (roughly $4.22 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated HCKT expiries trade a higher absolute premium for lower per-day decay. Position sizing on HCKT should anchor to the underlying notional of $10.81 per share and to the trader's directional view on HCKT stock.
HCKT long put setup
The HCKT 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 HCKT near $10.81, the first option leg uses a $10.81 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed HCKT chain at a 17-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 HCKT shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $10.81 | N/A |
HCKT 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.
HCKT long put payoff curve
Modeled P&L at expiration across a range of underlying prices for the long put on HCKT. 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 HCKT
Long puts on HCKT hedge an existing long HCKT stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying HCKT exposure being hedged.
HCKT thesis for this long put
The market-implied 1-standard-deviation range for HCKT extends from approximately $6.59 on the downside to $15.03 on the upside. A HCKT long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long HCKT position with one put per 100 shares held. Current HCKT IV rank near 42.33% is mid-range against its 1-year distribution, so the IV signal is neutral; the long put thesis on HCKT should anchor more to the directional view and the expected-move geometry. As a Technology name, HCKT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to HCKT-specific events.
HCKT 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. HCKT positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move HCKT alongside the broader basket even when HCKT-specific fundamentals are unchanged. Long-premium structures like a long put on HCKT 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 HCKT chain quotes before placing a trade.
Frequently asked questions
- What is a long put on HCKT?
- A long put on HCKT is the long put strategy applied to HCKT (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 HCKT stock trading near $10.81, the strikes shown on this page are snapped to the nearest listed HCKT chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are HCKT 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 HCKT long put priced from the end-of-day chain at a 30-day expiry (ATM IV 136.20%), 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 HCKT long put?
- The breakeven for the HCKT 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 HCKT market-implied 1-standard-deviation expected move is approximately 39.05%; 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 HCKT?
- Long puts on HCKT hedge an existing long HCKT stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying HCKT exposure being hedged.
- How does current HCKT implied volatility affect this long put?
- HCKT ATM IV is at 136.20% with IV rank near 42.33%, 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.