SYNA Long Put Strategy
SYNA (Synaptics Incorporated), in the Technology sector, (Semiconductors industry), listed on NASDAQ.
Synaptics Incorporated, established in 1986 and headquartered in San Jose, California, is a global developer, marketer, and seller of semiconductor product solutions designed to enhance user experience and device functionality. The company's extensive product offerings include: Audio and Video Solutions: AudioSmart for advanced sound and voice processing; ConnectSmart for high-speed multimedia connectivity; DisplayLink, which enables compressed video transmission across low-bandwidth connections; and VideoSmart, powering devices such as set-top boxes, streaming units, soundbars, surveillance equipment, and smart displays. They also provide ImagingSmart solutions for various visual processing needs. Human Interface and Biometrics: Natural ID, a fingerprint identification product utilized in automotive systems, personal computers, peripherals, and other applications; a range of touch-sensitive pads including the standard TouchPad, SecurePad with integrated fingerprint sensing, the clickable ClickPad, and ForcePad. Additionally, ClearPad facilitates direct interaction with displays on mobile smartphones, tablets, and in vehicles; ClearView delivers advanced image processing and low-power technology for smartphone and tablet screens; and TouchView integrates touch control with display drivers. Pointing Devices and Advanced Technologies: Synaptics also offers TouchPads with integrated pointing sticks for user choice in notebooks, and the standalone TouchStyk modules.
SYNA (Synaptics Incorporated) trades in the Technology sector, specifically Semiconductors, with a market capitalization of approximately $4.68B, a beta of 1.96 versus the broader market, a 52-week range of 58.28-149.11, average daily share volume of 989K, a public-listing history dating back to 2002, approximately 2K full-time employees. These structural characteristics shape how SYNA stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.96 indicates SYNA 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 SYNA?
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 SYNA snapshot
As of June 29, 2026, spot at $117.59, ATM IV 76.30%, IV rank 54.21%, expected move 21.87%. The long put on SYNA 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 18-day expiry.
Why this long put structure on SYNA specifically: SYNA IV at 76.30% 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 21.87% (roughly $25.72 on the underlying). The 18-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated SYNA expiries trade a higher absolute premium for lower per-day decay. Position sizing on SYNA should anchor to the underlying notional of $117.59 per share and to the trader's directional view on SYNA stock.
SYNA long put setup
The SYNA 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 SYNA near $117.59, the first option leg uses a $120.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed SYNA chain at a 18-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 SYNA shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $120.00 | $8.90 |
SYNA long put risk and reward
- Net Premium / Debit
- -$890.00
- Max Profit (per contract)
- $11,109.00
- Max Loss (per contract)
- -$890.00
- Breakeven(s)
- $111.10
- Risk / Reward Ratio
- 12.482
Max profit equals the strike minus premium times 100 (reached at zero); max loss equals the premium times 100. Breakeven is strike minus premium.
SYNA long put payoff curve
Modeled P&L at expiration across a range of underlying prices for the long put on SYNA. 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 | -100.0% | +$11,109.00 |
| $26.01 | -77.9% | +$8,509.13 |
| $52.01 | -55.8% | +$5,909.26 |
| $78.01 | -33.7% | +$3,309.39 |
| $104.00 | -11.6% | +$709.52 |
| $130.00 | +10.6% | -$890.00 |
| $156.00 | +32.7% | -$890.00 |
| $182.00 | +54.8% | -$890.00 |
| $208.00 | +76.9% | -$890.00 |
| $234.00 | +99.0% | -$890.00 |
When traders use long put on SYNA
Long puts on SYNA hedge an existing long SYNA stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying SYNA exposure being hedged.
SYNA thesis for this long put
The market-implied 1-standard-deviation range for SYNA extends from approximately $91.87 on the downside to $143.31 on the upside. A SYNA long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long SYNA position with one put per 100 shares held. Current SYNA IV rank near 54.21% is mid-range against its 1-year distribution, so the IV signal is neutral; the long put thesis on SYNA should anchor more to the directional view and the expected-move geometry. As a Technology name, SYNA options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to SYNA-specific events.
SYNA 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. SYNA positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move SYNA alongside the broader basket even when SYNA-specific fundamentals are unchanged. Long-premium structures like a long put on SYNA 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 SYNA chain quotes before placing a trade.
Frequently asked questions
- What is a long put on SYNA?
- A long put on SYNA is the long put strategy applied to SYNA (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 SYNA stock trading near $117.59, the strikes shown on this page are snapped to the nearest listed SYNA chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are SYNA 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 SYNA long put priced from the end-of-day chain at a 30-day expiry (ATM IV 76.30%), the computed maximum profit is $11,109.00 per contract and the computed maximum loss is -$890.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a SYNA long put?
- The breakeven for the SYNA long put priced on this page is roughly $111.10 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 SYNA market-implied 1-standard-deviation expected move is approximately 21.87%; 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 SYNA?
- Long puts on SYNA hedge an existing long SYNA stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying SYNA exposure being hedged.
- How does current SYNA implied volatility affect this long put?
- SYNA ATM IV is at 76.30% with IV rank near 54.21%, 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.