How are UNF 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 UNF long put priced from the end-of-day chain at a 30-day expiry (ATM IV 22.80%), the computed maximum profit is $25,709.00 per contract and the computed maximum loss is -$290.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a UNF long put?

The breakeven for the UNF long put priced on this page is roughly $257.10 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 UNF market-implied 1-standard-deviation expected move is approximately 6.54%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current UNF implied volatility affect this long put?

UNF ATM IV is at 22.80% with IV rank near 2.94%, 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.

UNF Long Put Strategy

UNF (UniFirst Corporation), in the Industrials sector, (Specialty Business Services industry), listed on NYSE.

UniFirst Corporation is a prominent provider of workwear and protective uniforms, catering to businesses across the United States, Europe, and Canada. The company segments its operations into U.S. and Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid divisions. At its core, UniFirst manages the entire lifecycle of work clothing. This includes designing, manufacturing, personalizing, renting, cleaning, delivering, and selling a wide range of uniforms and protective apparel. Their offerings span from standard items like shirts, pants, jackets, coveralls, lab coats, smocks, and aprons to specialized protective gear, such as flame-resistant and high-visibility garments. Beyond uniforms, UniFirst supplies a comprehensive array of facility maintenance and hygiene products.

UNF (UniFirst Corporation) trades in the Industrials sector, specifically Specialty Business Services, with a market capitalization of approximately $4.87B, a trailing P/E of 34.23, a beta of 0.63 versus the broader market, a 52-week range of 147.66-283.77, average daily share volume of 235K, a public-listing history dating back to 1984, approximately 16K full-time employees. These structural characteristics shape how UNF stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.63 indicates UNF has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. UNF pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a long put on UNF?

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 UNF snapshot

As of June 30, 2026, spot at $264.52, ATM IV 22.80%, IV rank 2.94%, expected move 6.54%. The long put on UNF 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 17-day expiry.

Why this long put structure on UNF specifically: UNF IV at 22.80% is on the cheap side of its 1-year range, which favors premium-buying structures like a UNF long put, with a market-implied 1-standard-deviation move of approximately 6.54% (roughly $17.29 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated UNF expiries trade a higher absolute premium for lower per-day decay. Position sizing on UNF should anchor to the underlying notional of $264.52 per share and to the trader's directional view on UNF stock.

UNF long put setup

The UNF 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 UNF near $264.52, the first option leg uses a $260.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed UNF chain at a 17-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 UNF shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Put	$260.00	$2.90

UNF long put risk and reward

Net Premium / Debit: -$290.00
Max Profit (per contract): $25,709.00
Max Loss (per contract): -$290.00
Breakeven(s): $257.10
Risk / Reward Ratio: 88.652

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

UNF long put payoff curve

Modeled P&L at expiration across a range of underlying prices for the long put on UNF. 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.

P&L at expiration across the modeled underlying-price range. Green shading marks profitable regions, red shading marks loss regions. Dotted purple verticals mark breakevens; the solid dark vertical marks current spot.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-100.0%	+$25,709.00
$58.50	-77.9%	+$19,860.43
$116.98	-55.8%	+$14,011.85
$175.47	-33.7%	+$8,163.28
$233.95	-11.6%	+$2,314.71
$292.44	+10.6%	-$290.00
$350.92	+32.7%	-$290.00
$409.41	+54.8%	-$290.00
$467.90	+76.9%	-$290.00
$526.38	+99.0%	-$290.00

When traders use long put on UNF

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

UNF thesis for this long put

The market-implied 1-standard-deviation range for UNF extends from approximately $247.23 on the downside to $281.81 on the upside. A UNF long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long UNF position with one put per 100 shares held. Current UNF IV rank near 2.94% 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 UNF at 22.80%. As a Industrials name, UNF options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to UNF-specific events.

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

Frequently asked questions

What is a long put on UNF?: A long put on UNF is the long put strategy applied to UNF (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 UNF stock trading near $264.52, the strikes shown on this page are snapped to the nearest listed UNF chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are UNF 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 UNF long put priced from the end-of-day chain at a 30-day expiry (ATM IV 22.80%), the computed maximum profit is $25,709.00 per contract and the computed maximum loss is -$290.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a UNF long put?: The breakeven for the UNF long put priced on this page is roughly $257.10 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 UNF market-implied 1-standard-deviation expected move is approximately 6.54%; 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 UNF?: Long puts on UNF hedge an existing long UNF stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying UNF exposure being hedged.
How does current UNF implied volatility affect this long put?: UNF ATM IV is at 22.80% with IV rank near 2.94%, 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.