RGTI Long Put Strategy
RGTI (Rigetti Computing, Inc.), in the Technology sector, (Computer Hardware industry), listed on NASDAQ.
Rigetti Computing, Inc. operates as an integrated systems company. The company builds quantum computers and the superconducting quantum processors that power them. Its machines are integrated into various public, private, or hybrid clouds through its Quantum Cloud Services platform. The company was founded in 2013 and is based in Berkeley, California.
RGTI (Rigetti Computing, Inc.) trades in the Technology sector, specifically Computer Hardware, with a market capitalization of approximately $6.12B, a beta of 1.80 versus the broader market, a 52-week range of 10.3-58.15, average daily share volume of 28.9M, a public-listing history dating back to 2021, approximately 137 full-time employees. These structural characteristics shape how RGTI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.80 indicates RGTI has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.
What is a long put on RGTI?
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 RGTI snapshot
As of May 15, 2026, spot at $17.98, ATM IV 95.29%, IV rank 22.74%, expected move 27.32%. The long put on RGTI 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 28-day expiry.
Why this long put structure on RGTI specifically: RGTI IV at 95.29% is on the cheap side of its 1-year range, which favors premium-buying structures like a RGTI long put, with a market-implied 1-standard-deviation move of approximately 27.32% (roughly $4.91 on the underlying). The 28-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated RGTI expiries trade a higher absolute premium for lower per-day decay. Position sizing on RGTI should anchor to the underlying notional of $17.98 per share and to the trader's directional view on RGTI stock.
RGTI long put setup
The RGTI 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 RGTI near $17.98, the first option leg uses a $18.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed RGTI chain at a 28-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 RGTI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $18.00 | $1.89 |
RGTI long put risk and reward
- Net Premium / Debit
- -$189.00
- Max Profit (per contract)
- $1,610.00
- Max Loss (per contract)
- -$189.00
- Breakeven(s)
- $16.11
- Risk / Reward Ratio
- 8.519
Max profit equals the strike minus premium times 100 (reached at zero); max loss equals the premium times 100. Breakeven is strike minus premium.
RGTI long put payoff curve
Modeled P&L at expiration across a range of underlying prices for the long put on RGTI. 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% | +$1,610.00 |
| $3.98 | -77.8% | +$1,212.56 |
| $7.96 | -55.7% | +$815.13 |
| $11.93 | -33.6% | +$417.69 |
| $15.91 | -11.5% | +$20.25 |
| $19.88 | +10.6% | -$189.00 |
| $23.86 | +32.7% | -$189.00 |
| $27.83 | +54.8% | -$189.00 |
| $31.80 | +76.9% | -$189.00 |
| $35.78 | +99.0% | -$189.00 |
When traders use long put on RGTI
Long puts on RGTI hedge an existing long RGTI stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying RGTI exposure being hedged.
RGTI thesis for this long put
The market-implied 1-standard-deviation range for RGTI extends from approximately $13.07 on the downside to $22.89 on the upside. A RGTI long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long RGTI position with one put per 100 shares held. Current RGTI IV rank near 22.74% 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 RGTI at 95.29%. As a Technology name, RGTI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to RGTI-specific events.
RGTI 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. RGTI positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move RGTI alongside the broader basket even when RGTI-specific fundamentals are unchanged. Long-premium structures like a long put on RGTI 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 RGTI chain quotes before placing a trade.
Frequently asked questions
- What is a long put on RGTI?
- A long put on RGTI is the long put strategy applied to RGTI (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 RGTI stock trading near $17.98, the strikes shown on this page are snapped to the nearest listed RGTI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are RGTI 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 RGTI long put priced from the end-of-day chain at a 30-day expiry (ATM IV 95.29%), the computed maximum profit is $1,610.00 per contract and the computed maximum loss is -$189.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a RGTI long put?
- The breakeven for the RGTI long put priced on this page is roughly $16.11 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 RGTI market-implied 1-standard-deviation expected move is approximately 27.32%; 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 RGTI?
- Long puts on RGTI hedge an existing long RGTI stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying RGTI exposure being hedged.
- How does current RGTI implied volatility affect this long put?
- RGTI ATM IV is at 95.29% with IV rank near 22.74%, 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.