LIVN Long Put Strategy
LIVN (LivaNova PLC), in the Healthcare sector, (Medical - Devices industry), listed on NASDAQ.
LivaNova PLC is a global medical technology company dedicated to developing, manufacturing, and marketing a variety of therapeutic solutions. The company operates through three key segments. Its Cardiopulmonary division provides essential products for heart-lung procedures, such as oxygenators, heart-lung machines, and various perfusion systems. The Neuromodulation segment is known for its VNS Therapy System, an implantable device that delivers vagus nerve stimulation to treat drug-resistant epilepsy, difficult-to-treat depression, and obstructive sleep apnea. This segment is also advancing the VITARIA System, which employs VNS for heart failure, through clinical development. The Advanced Circulatory Support segment offers temporary life support solutions, including both cardiopulmonary and respiratory support technologies.
LIVN (LivaNova PLC) trades in the Healthcare sector, specifically Medical - Devices, with a market capitalization of approximately $4.52B, a trailing P/E of 23.98, a beta of 0.87 versus the broader market, a 52-week range of 48.82-85.76, average daily share volume of 766K, a public-listing history dating back to 2015, approximately 3K full-time employees. These structural characteristics shape how LIVN stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.87 places LIVN 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 LIVN?
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.
LIVN snapshot
As of August 14, 2026, spot at $82.12, ATM IV 36.80%, IV rank 3.00%, expected move 10.55%. The long put on LIVN below is built from the August 14, 2026 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 LIVN specifically: LIVN IV at 36.80% is on the cheap side of its 1-year range, which favors premium-buying structures like a LIVN long put, with a market-implied 1-standard-deviation move of approximately 10.55% (roughly $8.66 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 LIVN expiries trade a higher absolute premium for lower per-day decay. Position sizing on LIVN should anchor to the underlying notional of $82.12 per share and to the trader's directional view on LIVN stock.
LIVN long put setup
The LIVN long put below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With LIVN at $82.12 on that close, the first option leg uses a $82.50 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed LIVN 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 LIVN shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $82.50 | $4.20 |
LIVN long put risk and reward
- Net Premium / Debit
- -$420.00
- Max Profit (per contract)
- $7,829.00
- Max Loss (per contract)
- -$420.00
- Breakeven(s)
- $78.30
- Risk / Reward Ratio
- 18.640
Max profit equals the strike minus premium times 100 (reached at zero); max loss equals the premium times 100. Breakeven is strike minus premium.
LIVN long put payoff curve
Modeled P&L at expiration across a range of underlying prices for the long put on LIVN. 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% | +$7,829.00 |
| $18.17 | -77.9% | +$6,013.39 |
| $36.32 | -55.8% | +$4,197.78 |
| $54.48 | -33.7% | +$2,382.18 |
| $72.63 | -11.6% | +$566.57 |
| $90.79 | +10.6% | -$420.00 |
| $108.95 | +32.7% | -$420.00 |
| $127.10 | +54.8% | -$420.00 |
| $145.26 | +76.9% | -$420.00 |
| $163.41 | +99.0% | -$420.00 |
When traders use long put on LIVN
Long puts on LIVN hedge an existing long LIVN stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying LIVN exposure being hedged.
LIVN thesis for this long put
The market-implied 1-standard-deviation range for LIVN extends from approximately $73.46 on the downside to $90.78 on the upside. A LIVN long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long LIVN position with one put per 100 shares held. Current LIVN IV rank near 3.00% 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 LIVN at 36.80%. As a Healthcare name, LIVN options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to LIVN-specific events.
LIVN 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. LIVN positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move LIVN alongside the broader basket even when LIVN-specific fundamentals are unchanged. Long-premium structures like a long put on LIVN 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 LIVN chain quotes before placing a trade.
Frequently asked questions
- What is a long put on LIVN?
- A long put on LIVN is the long put strategy applied to LIVN (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 LIVN stock at $82.12 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed LIVN chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are LIVN 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 LIVN long put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 36.80%), the computed maximum profit is $7,829.00 per contract and the computed maximum loss is -$420.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a LIVN long put?
- The breakeven for the LIVN long put priced on this page is roughly $78.30 at expiration, derived from the August 14, 2026 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 LIVN market-implied 1-standard-deviation expected move in the same options snapshot is approximately 10.55%; 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 LIVN?
- Long puts on LIVN hedge an existing long LIVN stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying LIVN exposure being hedged.
- How does current LIVN implied volatility affect this long put?
- LIVN ATM IV is at 36.80% with IV rank near 3.00%, 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.