TWI Long Put Strategy
TWI (Titan International, Inc.), in the Industrials sector, (Agricultural - Machinery industry), listed on NYSE.
Titan International, Inc., together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in North America, Europe, Latin America, the Commonwealth of Independent States region, the Middle East, Africa, Russia, and internationally. The company operates in Agricultural, Earthmoving/Construction, and Consumer segments. It offers rims, wheels, tires, and undercarriage systems and components for various agricultural equipment, including tractors, combines, skidders, plows, planters, and irrigation equipment. The company also offers rims, wheels, tires, and undercarriage systems and components for off-the-road earthmoving, mining, military, construction, and forestry equipment, including skid steers, aerial lifts, cranes, graders and levelers, scrapers, self-propelled shovel loaders, articulated dump trucks, load transporters, haul trucks, backhoe loaders, crawler tractors, lattice cranes, shovels, and hydraulic excavators. In addition, it provides bias and light truck tires; and products for ATVs, turf, and golf cart applications, as well as specialty and train brakes. It sells its products directly to original equipment manufacturers, as well as to the aftermarket through independent distributors, equipment dealers, and own distribution centers.
TWI (Titan International, Inc.) trades in the Industrials sector, specifically Agricultural - Machinery, with a market capitalization of approximately $487.3M, a beta of 1.50 versus the broader market, a 52-week range of 6.43-11.7, average daily share volume of 1.1M, a public-listing history dating back to 1993, approximately 8K full-time employees. These structural characteristics shape how TWI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.50 indicates TWI 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 TWI?
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 TWI snapshot
As of May 15, 2026, spot at $7.61, ATM IV 73.80%, IV rank 23.80%, expected move 21.16%. The long put on TWI 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 TWI specifically: TWI IV at 73.80% is on the cheap side of its 1-year range, which favors premium-buying structures like a TWI long put, with a market-implied 1-standard-deviation move of approximately 21.16% (roughly $1.61 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 TWI expiries trade a higher absolute premium for lower per-day decay. Position sizing on TWI should anchor to the underlying notional of $7.61 per share and to the trader's directional view on TWI stock.
TWI long put setup
The TWI 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 TWI near $7.61, the first option leg uses a $7.61 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed TWI 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 TWI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $7.61 | N/A |
TWI 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.
TWI long put payoff curve
Modeled P&L at expiration across a range of underlying prices for the long put on TWI. 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 TWI
Long puts on TWI hedge an existing long TWI stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying TWI exposure being hedged.
TWI thesis for this long put
The market-implied 1-standard-deviation range for TWI extends from approximately $6.00 on the downside to $9.22 on the upside. A TWI long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long TWI position with one put per 100 shares held. Current TWI IV rank near 23.80% 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 TWI at 73.80%. As a Industrials name, TWI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to TWI-specific events.
TWI 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. TWI positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move TWI alongside the broader basket even when TWI-specific fundamentals are unchanged. Long-premium structures like a long put on TWI 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 TWI chain quotes before placing a trade.
Frequently asked questions
- What is a long put on TWI?
- A long put on TWI is the long put strategy applied to TWI (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 TWI stock trading near $7.61, the strikes shown on this page are snapped to the nearest listed TWI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are TWI 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 TWI long put priced from the end-of-day chain at a 30-day expiry (ATM IV 73.80%), 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 TWI long put?
- The breakeven for the TWI 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 TWI market-implied 1-standard-deviation expected move is approximately 21.16%; 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 TWI?
- Long puts on TWI hedge an existing long TWI stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying TWI exposure being hedged.
- How does current TWI implied volatility affect this long put?
- TWI ATM IV is at 73.80% with IV rank near 23.80%, 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.