TFII Long Put Strategy
TFII (TFI International Inc.), in the Industrials sector, (Trucking industry), listed on NYSE.
TFI International Inc. provides transportation and logistics services in the United States, Canada, and Mexico. The company operates through Package and Courier, Less-Than-Truckload (LTL), Truckload (TL), and Logistics segments. The Package and Courier segment engages in the pickup, transport, and delivery of items. The LTL segment is involved in the pickup, consolidation, transportation, and delivery of smaller loads. The TL segment offers expedited transportation, flatbed, tank container, and dedicated services, as well as TL brokerage services. This segment carries full loads directly from the customer to the destination using a closed van or specialized equipment.
TFII (TFI International Inc.) trades in the Industrials sector, specifically Trucking, with a market capitalization of approximately $11.02B, a trailing P/E of 33.80, a beta of 1.46 versus the broader market, a 52-week range of 80.63-149.09, average daily share volume of 389K, a public-listing history dating back to 2005, approximately 26K full-time employees. These structural characteristics shape how TFII stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.46 indicates TFII has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. TFII pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a long put on TFII?
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 TFII snapshot
As of May 15, 2026, spot at $141.62, ATM IV 41.80%, IV rank 58.17%, expected move 11.98%. The long put on TFII 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 TFII specifically: TFII IV at 41.80% 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 11.98% (roughly $16.97 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 TFII expiries trade a higher absolute premium for lower per-day decay. Position sizing on TFII should anchor to the underlying notional of $141.62 per share and to the trader's directional view on TFII stock.
TFII long put setup
The TFII 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 TFII near $141.62, the first option leg uses a $140.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed TFII 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 TFII shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $140.00 | $6.35 |
TFII long put risk and reward
- Net Premium / Debit
- -$635.00
- Max Profit (per contract)
- $13,364.00
- Max Loss (per contract)
- -$635.00
- Breakeven(s)
- $133.65
- Risk / Reward Ratio
- 21.046
Max profit equals the strike minus premium times 100 (reached at zero); max loss equals the premium times 100. Breakeven is strike minus premium.
TFII long put payoff curve
Modeled P&L at expiration across a range of underlying prices for the long put on TFII. 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% | +$13,364.00 |
| $31.32 | -77.9% | +$10,232.81 |
| $62.63 | -55.8% | +$7,101.63 |
| $93.95 | -33.7% | +$3,970.44 |
| $125.26 | -11.6% | +$839.26 |
| $156.57 | +10.6% | -$635.00 |
| $187.88 | +32.7% | -$635.00 |
| $219.19 | +54.8% | -$635.00 |
| $250.50 | +76.9% | -$635.00 |
| $281.82 | +99.0% | -$635.00 |
When traders use long put on TFII
Long puts on TFII hedge an existing long TFII stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying TFII exposure being hedged.
TFII thesis for this long put
The market-implied 1-standard-deviation range for TFII extends from approximately $124.65 on the downside to $158.59 on the upside. A TFII long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long TFII position with one put per 100 shares held. Current TFII IV rank near 58.17% is mid-range against its 1-year distribution, so the IV signal is neutral; the long put thesis on TFII should anchor more to the directional view and the expected-move geometry. As a Industrials name, TFII options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to TFII-specific events.
TFII 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. TFII positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move TFII alongside the broader basket even when TFII-specific fundamentals are unchanged. Long-premium structures like a long put on TFII 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 TFII chain quotes before placing a trade.
Frequently asked questions
- What is a long put on TFII?
- A long put on TFII is the long put strategy applied to TFII (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 TFII stock trading near $141.62, the strikes shown on this page are snapped to the nearest listed TFII chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are TFII 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 TFII long put priced from the end-of-day chain at a 30-day expiry (ATM IV 41.80%), the computed maximum profit is $13,364.00 per contract and the computed maximum loss is -$635.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a TFII long put?
- The breakeven for the TFII long put priced on this page is roughly $133.65 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 TFII market-implied 1-standard-deviation expected move is approximately 11.98%; 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 TFII?
- Long puts on TFII hedge an existing long TFII stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying TFII exposure being hedged.
- How does current TFII implied volatility affect this long put?
- TFII ATM IV is at 41.80% with IV rank near 58.17%, 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.