How are QDEL 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 QDEL long put priced from the end-of-day chain at a 30-day expiry (ATM IV 96.00%), the computed maximum profit is $906.50 per contract and the computed maximum loss is -$92.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a QDEL long put?

The breakeven for the QDEL long put priced on this page is roughly $9.08 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 QDEL market-implied 1-standard-deviation expected move is approximately 27.52%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current QDEL implied volatility affect this long put?

QDEL ATM IV is at 96.00% with IV rank near 28.28%, 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.

QDEL Long Put Strategy

QDEL (QuidelOrtho Corporation), in the Healthcare sector, (Medical - Instruments & Supplies industry), listed on NASDAQ.

QuidelOrtho Corporation focuses on the development and manufacture of diagnostic testing technologies across the continuum of healthcare testing needs. The company operates through Labs, Transfusion Medicine, Point-of-Care, and Molecular Diagnostics business units. The Labs business unit provides clinical chemistry laboratory instruments and tests that measure target chemicals in bodily fluids for the evaluation of health and the clinical management of patients; immunoassay laboratory instruments and tests, which measure proteins as they act as antigens in the spread of disease, antibodies in the immune response spurred by disease, or markers of proper organ function and health; testing products to detect and monitor disease progression across a spectrum of therapeutic areas; and specialized diagnostic solutions. The Transfusion Medicine business unit offers immunohematology instruments and tests used for blood typing to ensure patient-donor compatibility in blood transfusions; and donor screening instruments and tests used for blood and plasma screening for infectious diseases. The Point-of-Care business unit provides tests to provide rapid results across a continuum of point-of-care settings. The Molecular Diagnostics business unit offers polymerase chain reaction thermocyclers; and analyzers and amplification systems.

QDEL (QuidelOrtho Corporation) trades in the Healthcare sector, specifically Medical - Instruments & Supplies, with a market capitalization of approximately $753.5M, a beta of 0.74 versus the broader market, a 52-week range of 9.92-35.58, average daily share volume of 2.2M, a public-listing history dating back to 1991, approximately 7K full-time employees. These structural characteristics shape how QDEL stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.74 places QDEL 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 QDEL?

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 QDEL snapshot

As of May 15, 2026, spot at $10.45, ATM IV 96.00%, IV rank 28.28%, expected move 27.52%. The long put on QDEL 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 QDEL specifically: QDEL IV at 96.00% is on the cheap side of its 1-year range, which favors premium-buying structures like a QDEL long put, with a market-implied 1-standard-deviation move of approximately 27.52% (roughly $2.88 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 QDEL expiries trade a higher absolute premium for lower per-day decay. Position sizing on QDEL should anchor to the underlying notional of $10.45 per share and to the trader's directional view on QDEL stock.

QDEL long put setup

The QDEL 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 QDEL near $10.45, the first option leg uses a $10.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed QDEL 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 QDEL shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Put	$10.00	$0.93

QDEL long put risk and reward

Net Premium / Debit: -$92.50
Max Profit (per contract): $906.50
Max Loss (per contract): -$92.50
Breakeven(s): $9.08
Risk / Reward Ratio: 9.800

Max profit equals the strike minus premium times 100 (reached at zero); max loss equals the premium times 100. Breakeven is strike minus premium.

QDEL long put payoff curve

Modeled P&L at expiration across a range of underlying prices for the long put on QDEL. 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	-99.9%	+$906.50
$2.32	-77.8%	+$675.56
$4.63	-55.7%	+$444.61
$6.94	-33.6%	+$213.67
$9.25	-11.5%	-$17.28
$11.56	+10.6%	-$92.50
$13.87	+32.7%	-$92.50
$16.18	+54.8%	-$92.50
$18.49	+76.9%	-$92.50
$20.80	+99.0%	-$92.50

When traders use long put on QDEL

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

QDEL thesis for this long put

The market-implied 1-standard-deviation range for QDEL extends from approximately $7.57 on the downside to $13.33 on the upside. A QDEL long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long QDEL position with one put per 100 shares held. Current QDEL IV rank near 28.28% 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 QDEL at 96.00%. As a Healthcare name, QDEL options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to QDEL-specific events.

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

Frequently asked questions

What is a long put on QDEL?: A long put on QDEL is the long put strategy applied to QDEL (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 QDEL stock trading near $10.45, the strikes shown on this page are snapped to the nearest listed QDEL chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are QDEL 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 QDEL long put priced from the end-of-day chain at a 30-day expiry (ATM IV 96.00%), the computed maximum profit is $906.50 per contract and the computed maximum loss is -$92.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a QDEL long put?: The breakeven for the QDEL long put priced on this page is roughly $9.08 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 QDEL market-implied 1-standard-deviation expected move is approximately 27.52%; 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 QDEL?: Long puts on QDEL hedge an existing long QDEL stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying QDEL exposure being hedged.
How does current QDEL implied volatility affect this long put?: QDEL ATM IV is at 96.00% with IV rank near 28.28%, 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.