PROF Long Put Strategy

PROF (Profound Medical Corp.), in the Healthcare sector, (Medical - Devices industry), listed on NASDAQ.

Profound Medical Corp., through its subsidiaries, is a commercial-stage medical technology firm specializing in the development of magnetic resonance (MR)-guided ablation solutions. These innovative procedures are designed to treat conditions such as prostate disease and uterine fibroids, as well as providing palliative pain relief. The company markets its solutions across Canada, Germany, the United States, and Finland. Its flagship product, the TULSA-PRO system, is specifically designed for use with magnetic resonance imaging (MRI) scanners within hospital settings and other treatment centers. Additionally, Profound Medical offers Sonalleve, a therapeutic platform that addresses uterine fibroids – including through non-invasive methods – and provides palliative relief for pain linked to bone metastases. The company's primary operations are headquartered in Mississauga, Canada.

PROF (Profound Medical Corp.) trades in the Healthcare sector, specifically Medical - Devices, with a market capitalization of approximately $196.7M, a beta of 0.52 versus the broader market, a 52-week range of 3.76-8.95, average daily share volume of 79K, a public-listing history dating back to 2019, approximately 142 full-time employees. These structural characteristics shape how PROF stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.52 indicates PROF 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 PROF?

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 PROF snapshot

As of June 30, 2026, spot at $6.69, ATM IV 98.70%, IV rank 17.17%, expected move 28.30%. The long put on PROF 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 PROF specifically: PROF IV at 98.70% is on the cheap side of its 1-year range, which favors premium-buying structures like a PROF long put, with a market-implied 1-standard-deviation move of approximately 28.30% (roughly $1.89 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 PROF expiries trade a higher absolute premium for lower per-day decay. Position sizing on PROF should anchor to the underlying notional of $6.69 per share and to the trader's directional view on PROF stock.

PROF long put setup

The PROF 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 PROF near $6.69, the first option leg uses a $6.69 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed PROF 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 PROF shares for the stock leg in covered calls and collars).

ActionTypeStrike / BasisPremium (est)
Buy 1Put$6.69N/A

PROF 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.

PROF long put payoff curve

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

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

PROF thesis for this long put

The market-implied 1-standard-deviation range for PROF extends from approximately $4.80 on the downside to $8.58 on the upside. A PROF long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long PROF position with one put per 100 shares held. Current PROF IV rank near 17.17% 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 PROF at 98.70%. As a Healthcare name, PROF options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to PROF-specific events.

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

Frequently asked questions

What is a long put on PROF?
A long put on PROF is the long put strategy applied to PROF (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 PROF stock trading near $6.69, the strikes shown on this page are snapped to the nearest listed PROF chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are PROF 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 PROF 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 PROF long put?
The breakeven for the PROF 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 PROF 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 PROF?
Long puts on PROF hedge an existing long PROF stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying PROF exposure being hedged.
How does current PROF implied volatility affect this long put?
PROF ATM IV is at 98.70% with IV rank near 17.17%, 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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