MYE Long Put Strategy
MYE (Myers Industries, Inc.), in the Consumer Cyclical sector, (Packaging & Containers industry), listed on NYSE.
Myers Industries, Inc. engages in distribution of tire service supplies in Ohio. It operates through The Material Handling and Distribution segments. The Material Handling segment offers pallets, small parts bins, bulk shipping containers, OEM parts, storage, organization, and custom plastic products; injection molded, rotationally molded or blow molded products, consumer fuel containers and tanks for water, fuel, and waste handling. It serves industrial manufacturing, food processing, retail/wholesale products distribution, agriculture, automotive, recreational, and marine vehicles, healthcare, appliance, bakery, electronics, textiles, consumer markets, and other markets under Akro-Mils, Jamco, Buckhorn, Ameri-Kart, Scepter, Elkhart Plastics, and Trilogy Plastics brands directly, as well as through distributors. The Distribution segment engages in the distribution of tools, equipment, and supplies for tire, wheel, and undervehicle service on passenger, heavy truck, and off-road vehicles; and manufacture and sale of tire repair materials and custom rubber products, as well as reflective highway marking tapes. This segment serves retail and truck tire dealers, commercial auto and truck fleets, auto dealers, general service and repair centers, tire re-treaders, truck stop operations, and government agencies.
MYE (Myers Industries, Inc.) trades in the Consumer Cyclical sector, specifically Packaging & Containers, with a market capitalization of approximately $854.8M, a trailing P/E of 20.30, a beta of 0.97 versus the broader market, a 52-week range of 11.86-24.25, average daily share volume of 242K, a public-listing history dating back to 1980, approximately 3K full-time employees. These structural characteristics shape how MYE stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.97 places MYE roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. MYE pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a long put on MYE?
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 MYE snapshot
As of May 15, 2026, spot at $22.30, ATM IV 98.70%, IV rank 43.07%, expected move 28.30%. The long put on MYE 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 long put structure on MYE specifically: MYE IV at 98.70% 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 28.30% (roughly $6.31 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 MYE expiries trade a higher absolute premium for lower per-day decay. Position sizing on MYE should anchor to the underlying notional of $22.30 per share and to the trader's directional view on MYE stock.
MYE long put setup
The MYE 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 MYE near $22.30, the first option leg uses a $22.30 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed MYE 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 MYE shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $22.30 | N/A |
MYE 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.
MYE long put payoff curve
Modeled P&L at expiration across a range of underlying prices for the long put on MYE. 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 MYE
Long puts on MYE hedge an existing long MYE stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying MYE exposure being hedged.
MYE thesis for this long put
The market-implied 1-standard-deviation range for MYE extends from approximately $15.99 on the downside to $28.61 on the upside. A MYE long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long MYE position with one put per 100 shares held. Current MYE IV rank near 43.07% is mid-range against its 1-year distribution, so the IV signal is neutral; the long put thesis on MYE should anchor more to the directional view and the expected-move geometry. As a Consumer Cyclical name, MYE options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to MYE-specific events.
MYE 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. MYE positions also carry Consumer Cyclical sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move MYE alongside the broader basket even when MYE-specific fundamentals are unchanged. Long-premium structures like a long put on MYE 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 MYE chain quotes before placing a trade.
Frequently asked questions
- What is a long put on MYE?
- A long put on MYE is the long put strategy applied to MYE (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 MYE stock trading near $22.30, the strikes shown on this page are snapped to the nearest listed MYE chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are MYE 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 MYE long put priced from the end-of-day chain at a 30-day expiry (ATM IV 98.70%), 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 MYE long put?
- The breakeven for the MYE 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 MYE market-implied 1-standard-deviation expected move is approximately 28.30%; 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 MYE?
- Long puts on MYE hedge an existing long MYE stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying MYE exposure being hedged.
- How does current MYE implied volatility affect this long put?
- MYE ATM IV is at 98.70% with IV rank near 43.07%, 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.