INCR Long Put Strategy

INCR (InterCure Ltd.), in the Healthcare sector, (Drug Manufacturers - Specialty & Generic industry), listed on NASDAQ.

InterCure Ltd., including its subsidiaries, is actively involved in the entire lifecycle of medical cannabis products. This encompasses everything from initial research and cultivation to manufacturing, marketing, and global distribution, serving both the Israeli market and international territories. The company's offerings feature dried cannabis flower alongside cannabis extracts infused with oil. Beyond its core cannabis operations, InterCure also directs investments towards the biomedical sector. Founded in 1994, the firm's main offices are located in Herzliya, Israel.

INCR (InterCure Ltd.) trades in the Healthcare sector, specifically Drug Manufacturers - Specialty & Generic, with a market capitalization of approximately $59.4M, a beta of 0.57 versus the broader market, a 52-week range of 0.68-1.77, average daily share volume of 54K, a public-listing history dating back to 2019, approximately 320 full-time employees. These structural characteristics shape how INCR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.57 indicates INCR 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 INCR?

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 INCR snapshot

As of June 30, 2026, spot at $1.07, ATM IV 22.80%, IV rank 1.10%, expected move 6.54%. The long put on INCR 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 INCR specifically: INCR IV at 22.80% is on the cheap side of its 1-year range, which favors premium-buying structures like a INCR long put, with a market-implied 1-standard-deviation move of approximately 6.54% (roughly $0.07 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 INCR expiries trade a higher absolute premium for lower per-day decay. Position sizing on INCR should anchor to the underlying notional of $1.07 per share and to the trader's directional view on INCR stock.

INCR long put setup

The INCR 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 INCR near $1.07, the first option leg uses a $1.07 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed INCR 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 INCR shares for the stock leg in covered calls and collars).

ActionTypeStrike / BasisPremium (est)
Buy 1Put$1.07N/A

INCR 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.

INCR long put payoff curve

Modeled P&L at expiration across a range of underlying prices for the long put on INCR. 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 INCR

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

INCR thesis for this long put

The market-implied 1-standard-deviation range for INCR extends from approximately $1.00 on the downside to $1.14 on the upside. A INCR long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long INCR position with one put per 100 shares held. Current INCR IV rank near 1.10% 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 INCR at 22.80%. As a Healthcare name, INCR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to INCR-specific events.

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

Frequently asked questions

What is a long put on INCR?
A long put on INCR is the long put strategy applied to INCR (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 INCR stock trading near $1.07, the strikes shown on this page are snapped to the nearest listed INCR chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are INCR 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 INCR long put priced from the end-of-day chain at a 30-day expiry (ATM IV 22.80%), 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 INCR long put?
The breakeven for the INCR 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 INCR market-implied 1-standard-deviation expected move is approximately 6.54%; 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 INCR?
Long puts on INCR hedge an existing long INCR stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying INCR exposure being hedged.
How does current INCR implied volatility affect this long put?
INCR ATM IV is at 22.80% with IV rank near 1.10%, 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.

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