FLQM Long Put Strategy
FLQM (Franklin U.S. Mid Cap Multifactor Index ETF), in the Financial Services sector, (Asset Management industry), listed on CBOE.
This fund aims to deliver investment returns that closely mirror the performance of its specific benchmark, the LibertyQ U.S. Mid Cap Equity Index, prior to accounting for fees and expenses.
FLQM (Franklin U.S. Mid Cap Multifactor Index ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $1.47B, a beta of 0.81 versus the broader market, a 52-week range of 53.87-63.91, average daily share volume of 93K, a public-listing history dating back to 2017. These structural characteristics shape how FLQM etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.81 places FLQM roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. FLQM pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a long put on FLQM?
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.
FLQM snapshot
As of November 13, 2026, spot at $62.78. The long put on FLQM below is built from the November 13, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.
Why this long put structure on FLQM specifically: IV rank is unavailable in the current snapshot, so regime-based timing for FLQM is inferred from ATM IV alone. The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated FLQM expiries trade a higher absolute premium for lower per-day decay. Position sizing on FLQM should anchor to the underlying notional of $62.78 per share and to the trader's directional view on FLQM etf.
FLQM long put setup
The FLQM long put below is built from the November 13, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With FLQM at $62.78 on that close, the first option leg uses a $63.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed FLQM chain at a 35-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 FLQM shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $63.00 | $1.49 |
FLQM long put risk and reward
- Net Premium / Debit
- -$149.00
- Max Profit (per contract)
- $6,150.00
- Max Loss (per contract)
- -$149.00
- Breakeven(s)
- $61.51
- Risk / Reward Ratio
- 41.275
Max profit equals the strike minus premium times 100 (reached at zero); max loss equals the premium times 100. Breakeven is strike minus premium.
FLQM long put payoff curve
Modeled P&L at expiration across a range of underlying prices for the long put on FLQM. 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% | +$6,150.00 |
| $13.89 | -77.9% | +$4,762.01 |
| $27.77 | -55.8% | +$3,374.02 |
| $41.65 | -33.7% | +$1,986.03 |
| $55.53 | -11.5% | +$598.04 |
| $69.41 | +10.6% | -$149.00 |
| $83.29 | +32.7% | -$149.00 |
| $97.17 | +54.8% | -$149.00 |
| $111.05 | +76.9% | -$149.00 |
| $124.93 | +99.0% | -$149.00 |
When traders use long put on FLQM
Long puts on FLQM hedge an existing long FLQM etf position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying FLQM exposure being hedged.
FLQM thesis for this long put
A FLQM long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long FLQM position with one put per 100 shares held. As a Financial Services name, FLQM options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to FLQM-specific events.
FLQM 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. FLQM positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move FLQM alongside the broader basket even when FLQM-specific fundamentals are unchanged. Long-premium structures like a long put on FLQM 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 FLQM chain quotes before placing a trade.
Frequently asked questions
- What is a long put on FLQM?
- A long put on FLQM is the long put strategy applied to FLQM (etf). 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 FLQM etf at $62.78 on the November 13, 2026 close, the strikes shown on this page are snapped to the nearest listed FLQM chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are FLQM 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 FLQM long put priced from the November 13, 2026 end-of-day chain at a 30-day expiry (ATM IV the current ATM IV), the computed maximum profit is $6,150.00 per contract and the computed maximum loss is -$149.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a FLQM long put?
- The breakeven for the FLQM long put priced on this page is roughly $61.51 at expiration, derived from the November 13, 2026 end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk.
- When should you consider a long put on FLQM?
- Long puts on FLQM hedge an existing long FLQM etf position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying FLQM exposure being hedged.
- How does current FLQM implied volatility affect this long put?
- Current FLQM ATM IV is the current ATM IV; IV rank context is unavailable in the current snapshot.