VERU Long Put Strategy
VERU (Veru Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
Veru Inc. operates as a biopharmaceutical firm primarily dedicated to advancing novel therapeutic agents for various types of cancer. Commercially, Veru markets the FC2 internal condom, designed to offer dual protection against both unplanned pregnancies and the transmission of sexually transmitted infections. This product is distributed globally to a diverse clientele, including governmental health departments, UN organizations, non-profit entities, and commercial distributors. Its robust development pipeline features a range of investigational therapies, notably within oncology: Enobosarm, an orally administered selective androgen receptor agonist, is progressing through Phase III clinical trials for treating metastatic breast cancer that is AR+, ER+, and HER2-negative. Sabizabulin is undergoing Phase IIb studies for the same type of metastatic breast cancer. Furthermore, a combination therapy of Enobosarm with abemaciclib is in Phase III for AR+ ER+ HER2- metastatic breast cancer.
VERU (Veru Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $48.3M, a beta of -1.13 versus the broader market, a 52-week range of 2.05-7.33, average daily share volume of 1.9M, a public-listing history dating back to 1999, approximately 210 full-time employees. These structural characteristics shape how VERU stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of -1.13 indicates VERU has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure.
What is a long put on VERU?
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 VERU snapshot
As of June 30, 2026, spot at $3.11, ATM IV 121.90%, IV rank 14.71%, expected move 34.95%. The long put on VERU 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 24-day expiry.
Why this long put structure on VERU specifically: VERU IV at 121.90% is on the cheap side of its 1-year range, which favors premium-buying structures like a VERU long put, with a market-implied 1-standard-deviation move of approximately 34.95% (roughly $1.09 on the underlying). The 24-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated VERU expiries trade a higher absolute premium for lower per-day decay. Position sizing on VERU should anchor to the underlying notional of $3.11 per share and to the trader's directional view on VERU stock.
VERU long put setup
The VERU 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 VERU near $3.11, the first option leg uses a $3.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed VERU chain at a 24-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 VERU shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $3.00 | $0.40 |
VERU long put risk and reward
- Net Premium / Debit
- -$40.00
- Max Profit (per contract)
- $259.00
- Max Loss (per contract)
- -$40.00
- Breakeven(s)
- $2.60
- Risk / Reward Ratio
- 6.475
Max profit equals the strike minus premium times 100 (reached at zero); max loss equals the premium times 100. Breakeven is strike minus premium.
VERU long put payoff curve
Modeled P&L at expiration across a range of underlying prices for the long put on VERU. 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 | -99.7% | +$259.00 |
| $0.70 | -77.6% | +$190.35 |
| $1.38 | -55.5% | +$121.69 |
| $2.07 | -33.5% | +$53.04 |
| $2.76 | -11.4% | -$15.61 |
| $3.44 | +10.7% | -$40.00 |
| $4.13 | +32.8% | -$40.00 |
| $4.82 | +54.8% | -$40.00 |
| $5.50 | +76.9% | -$40.00 |
| $6.19 | +99.0% | -$40.00 |
When traders use long put on VERU
Long puts on VERU hedge an existing long VERU stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying VERU exposure being hedged.
VERU thesis for this long put
The market-implied 1-standard-deviation range for VERU extends from approximately $2.02 on the downside to $4.20 on the upside. A VERU long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long VERU position with one put per 100 shares held. Current VERU IV rank near 14.71% 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 VERU at 121.90%. As a Healthcare name, VERU options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to VERU-specific events.
VERU 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. VERU positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move VERU alongside the broader basket even when VERU-specific fundamentals are unchanged. Long-premium structures like a long put on VERU 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 VERU chain quotes before placing a trade.
Frequently asked questions
- What is a long put on VERU?
- A long put on VERU is the long put strategy applied to VERU (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 VERU stock trading near $3.11, the strikes shown on this page are snapped to the nearest listed VERU chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are VERU 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 VERU long put priced from the end-of-day chain at a 30-day expiry (ATM IV 121.90%), the computed maximum profit is $259.00 per contract and the computed maximum loss is -$40.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a VERU long put?
- The breakeven for the VERU long put priced on this page is roughly $2.60 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 VERU market-implied 1-standard-deviation expected move is approximately 34.95%; 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 VERU?
- Long puts on VERU hedge an existing long VERU stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying VERU exposure being hedged.
- How does current VERU implied volatility affect this long put?
- VERU ATM IV is at 121.90% with IV rank near 14.71%, 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.