NXDR Long Put Strategy
NXDR (Nextdoor Holdings, Inc.), in the Communication Services sector, (Internet Content & Information industry), listed on NYSE.
Nextdoor Holdings, Inc. operates as a holding company, which engages in the provision of a social network site connecting with neighborhood and businesses. The company was founded by Nirav Tolia in 2008 and is headquartered in San Francisco, CA.
NXDR (Nextdoor Holdings, Inc.) trades in the Communication Services sector, specifically Internet Content & Information, with a market capitalization of approximately $812.8M, a beta of 1.29 versus the broader market, a 52-week range of 1.33-3.72, average daily share volume of 3.7M, a public-listing history dating back to 2021, approximately 546 full-time employees. These structural characteristics shape how NXDR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.29 places NXDR 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 NXDR?
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 NXDR snapshot
As of May 15, 2026, spot at $2.04, ATM IV 85.50%, IV rank 27.30%, expected move 24.51%. The long put on NXDR 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 NXDR specifically: NXDR IV at 85.50% is on the cheap side of its 1-year range, which favors premium-buying structures like a NXDR long put, with a market-implied 1-standard-deviation move of approximately 24.51% (roughly $0.50 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 NXDR expiries trade a higher absolute premium for lower per-day decay. Position sizing on NXDR should anchor to the underlying notional of $2.04 per share and to the trader's directional view on NXDR stock.
NXDR long put setup
The NXDR 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 NXDR near $2.04, the first option leg uses a $2.04 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed NXDR 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 NXDR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $2.04 | N/A |
NXDR 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.
NXDR long put payoff curve
Modeled P&L at expiration across a range of underlying prices for the long put on NXDR. 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 NXDR
Long puts on NXDR hedge an existing long NXDR stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying NXDR exposure being hedged.
NXDR thesis for this long put
The market-implied 1-standard-deviation range for NXDR extends from approximately $1.54 on the downside to $2.54 on the upside. A NXDR long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long NXDR position with one put per 100 shares held. Current NXDR IV rank near 27.30% 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 NXDR at 85.50%. As a Communication Services name, NXDR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to NXDR-specific events.
NXDR 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. NXDR positions also carry Communication Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move NXDR alongside the broader basket even when NXDR-specific fundamentals are unchanged. Long-premium structures like a long put on NXDR 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 NXDR chain quotes before placing a trade.
Frequently asked questions
- What is a long put on NXDR?
- A long put on NXDR is the long put strategy applied to NXDR (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 NXDR stock trading near $2.04, the strikes shown on this page are snapped to the nearest listed NXDR chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are NXDR 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 NXDR long put priced from the end-of-day chain at a 30-day expiry (ATM IV 85.50%), 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 NXDR long put?
- The breakeven for the NXDR 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 NXDR market-implied 1-standard-deviation expected move is approximately 24.51%; 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 NXDR?
- Long puts on NXDR hedge an existing long NXDR stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying NXDR exposure being hedged.
- How does current NXDR implied volatility affect this long put?
- NXDR ATM IV is at 85.50% with IV rank near 27.30%, 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.