CRAK250919P00033000 Option on VanEck Oil Refiners
| CRAK Etf | USD 34.78 0.50 1.46% |
CRAK250919P00033000 is a PUT option contract on VanEck Oil's common stock with a strick price of 33.0 expiring on 2025-09-19. The contract was not traded in recent days and, as of today, has 58 days remaining before the expiration. The option is currently trading at an ask price of $2.6. The implied volatility as of the 23rd of July is 58.0.
When exercised, put options on VanEck Oil produce a short position in VanEck Etf. Because of this protective nature, they are typically used either for hedging purposes or to capitalize on VanEck Oil's downside price movement.
Rule 16 of 2025-09-19 Option Contract
The options market is anticipating that VanEck Oil Refiners will have an average daily up or down price movement of about 0.0227% per day over the life of the option. With VanEck Oil trading at USD 34.78, that is roughly USD 0.007895. If you think that the market is fully understating VanEck Oil's daily price movement you should consider buying VanEck Oil Refiners options at that current volatility level of 0.36%. But if you have an opposite viewpoint you should avoid it and even consider selling them.
Out Of The Money Put Option on VanEck Oil
An 'Out of The Money' option on VanEck has a strike price that VanEck Etf has yet to reach, meaning the option has no intrinsic value. 'Out of The Money' options are usually less costly than 'In The Money' options, making them more desirable to traders with smaller amounts of capital. Some of the uses for VanEck Oil's 'Out of The Money' options include buying the options if you expect a big move in VanEck Oil's stock. Since 'Out of The Money' options have a lower up-front cost (i.e., no intrinsic value) than 'In The Money' options, buying it is a reasonable choice.
| Put Contract Name | CRAK250919P00033000 |
| Expires On | 2025-09-19 |
| Days Before Expriration | 58 |
| Vega | 0.051262 |
| Gamma | 0.074952 |
| Theoretical Value | 1.3 |
| Open Interest | 1 |
| Strike Price | 33.0 |
| Last Traded At | 0.25 |
| Current Price Spread | 0.0 | 2.6 |
| Rule 16 Daily Up or Down | USD 0.007895 |
VanEck short PUT Option Greeks
VanEck Oil's Option Greeks for the contract ending on 2025-09-19 at a strike price of 33.0 measures the various factors that affect its cost and calculated using a theoretical options pricing model. It helps investors make more informed decisions about whether to trade this option contract or when to trade it. In addition to VanEck Oil's option greeks, its implied volatility helps estimate the risk of VanEck Oil stock implied by the prices of the options on VanEck Oil's stock.
| Delta | -0.355161 | |
| Gamma | 0.074952 | |
| Theta | -0.014404 | |
| Vega | 0.051262 | |
| Rho | -0.018616 |
VanEck long PUT Option Payoff at expiration
Put options written on VanEck Oil grant holders of the option the right to sell a specified amount of VanEck Oil at a specified price within a specified time frame. The put buyer has a limited loss and, while not fully unlimited gains, as the price of VanEck Etf cannot fall below zero, the put buyer does gain as the price drops. So, purchasing a put option on VanEck Oil is like buying insurance aginst VanEck Oil's downside shift.
Profit |
| VanEck Oil Price At Expiration |
VanEck short PUT Option Payoff at expiration
By selling VanEck Oil's put option, the investors signal their bearish sentiment. A short position in a put option written on VanEck Oil will generally make money when the underlying price is above the strike price. Therefore VanEck Oil's put payoff at expiration depends on where the VanEck Etf price is relative to the put option strike price. The breakeven price of 31.7 is the critical point that divides the payoff function into two parts. Below the breakeven price, the payoff is dropping and negative (the seller makes a loss). Above the breakeven price, the payoff line is upward sloping as the option payoff increases in proportion to VanEck Oil's price. Finally, at the strike price of 33.0, the payoff chart is constant and positive.
Profit |
| VanEck Oil Price At Expiration |
VanEck Oil Refiners Available Put Options
VanEck Oil's option chain is a display of a range of information that helps investors for ways to trade options on VanEck. In general, an option chain provides a helpful tool for investors to see all available option contracts, both puts, and calls, for VanEck. It also shows strike prices and maturity days for a VanEck Oil against a given expiration period. The table below combines all the option information in the form of a chain but before you use it, remember that it entails significant risk and it is not for everyone.
| Open Int | Strike Price | Current Spread | Last Price | |||
Put | CRAK250919P00038000 | 0 | 38.0 | 1.5 - 6.3 | 1.5 | In |
Put | CRAK250919P00037000 | 0 | 37.0 | 0.5 - 5.3 | 0.5 | In |
Put | CRAK250919P00036000 | 0 | 36.0 | 0.0 - 4.4 | 4.4 | In |
Put | CRAK250919P00035000 | 0 | 35.0 | 0.0 - 3.4 | 3.4 | In |
Put | CRAK250919P00034000 | 0 | 34.0 | 0.0 - 2.95 | 2.95 | |
Put | CRAK250919P00033000 | 1 | 33.0 | 0.0 - 2.6 | 0.25 | Out |
Put | CRAK250919P00032000 | 0 | 32.0 | 0.0 - 2.4 | 2.4 | |
Put | CRAK250919P00031000 | 4 | 31.0 | 0.0 - 0.55 | 0.2 | Out |
Put | CRAK250919P00030000 | 0 | 30.0 | 0.0 - 0.25 | 0.25 | |
Put | CRAK250919P00029000 | 1 | 29.0 | 0.0 - 2.25 | 2.25 | Out |
Put | CRAK250919P00028000 | 2 | 28.0 | 0.0 - 2.25 | 2.25 | Out |
Put | CRAK250919P00022000 | 2 | 22.0 | 0.0 - 0.05 | 0.05 | Out |
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The market value of VanEck Oil Refiners is measured differently than its book value, which is the value of VanEck that is recorded on the company's balance sheet. Investors also form their own opinion of VanEck Oil's value that differs from its market value or its book value, called intrinsic value, which is VanEck Oil's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because VanEck Oil's market value can be influenced by many factors that don't directly affect VanEck Oil's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between VanEck Oil's value and its price as these two are different measures arrived at by different means. Investors typically determine if VanEck Oil is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, VanEck Oil's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.