AIZ Long Put Strategy
AIZ (Assurant, Inc.), in the Financial Services sector, (Insurance - Specialty industry), listed on NYSE.
Assurant, Inc. operates globally, delivering essential lifestyle and housing solutions designed to secure, assist, and connect consumer acquisitions across diverse markets including North America, Latin America, Europe, and the Asia Pacific. The company's operations are divided into two main divisions: Global Lifestyle and Global Housing. The Global Lifestyle segment provides comprehensive mobile device support, extended warranty and maintenance programs for mobile devices, consumer electronics, and appliances, as well as vehicle protection plans and associated services, alongside credit protection and other insurance offerings. Conversely, the Global Housing segment focuses on various insurance products, encompassing lender-placed homeowners, manufactured home, and flood coverage. It also offers renters insurance and related benefits, in addition to optional manufactured housing and homeowners policies, and other specialized insurance products. Founded in 1892, the company was formerly known as Fortis, Inc. before officially changing its name to Assurant, Inc. in February 2004.
AIZ (Assurant, Inc.) trades in the Financial Services sector, specifically Insurance - Specialty, with a market capitalization of approximately $13.93B, a trailing P/E of 13.09, a beta of 0.54 versus the broader market, a 52-week range of 205.01-303.94, average daily share volume of 407K, a public-listing history dating back to 2004, approximately 15K full-time employees. These structural characteristics shape how AIZ stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.54 indicates AIZ has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. AIZ pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a long put on AIZ?
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.
AIZ snapshot
As of August 14, 2026, spot at $282.47, ATM IV 18.60%, IV rank 2.84%, expected move 5.33%. The long put on AIZ below is built from the August 14, 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 AIZ specifically: AIZ IV at 18.60% is on the cheap side of its 1-year range, which favors premium-buying structures like a AIZ long put, with a market-implied 1-standard-deviation move of approximately 5.33% (roughly $15.06 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated AIZ expiries trade a higher absolute premium for lower per-day decay. Position sizing on AIZ should anchor to the underlying notional of $282.47 per share and to the trader's directional view on AIZ stock.
AIZ long put setup
The AIZ long put below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With AIZ at $282.47 on that close, the first option leg uses a $280.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AIZ 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 AIZ shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $280.00 | $5.20 |
AIZ long put risk and reward
- Net Premium / Debit
- -$520.00
- Max Profit (per contract)
- $27,479.00
- Max Loss (per contract)
- -$520.00
- Breakeven(s)
- $274.80
- Risk / Reward Ratio
- 52.844
Max profit equals the strike minus premium times 100 (reached at zero); max loss equals the premium times 100. Breakeven is strike minus premium.
AIZ long put payoff curve
Modeled P&L at expiration across a range of underlying prices for the long put on AIZ. 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% | +$27,479.00 |
| $62.46 | -77.9% | +$21,233.54 |
| $124.92 | -55.8% | +$14,988.09 |
| $187.37 | -33.7% | +$8,742.63 |
| $249.83 | -11.6% | +$2,497.17 |
| $312.28 | +10.6% | -$520.00 |
| $374.74 | +32.7% | -$520.00 |
| $437.19 | +54.8% | -$520.00 |
| $499.65 | +76.9% | -$520.00 |
| $562.10 | +99.0% | -$520.00 |
When traders use long put on AIZ
Long puts on AIZ hedge an existing long AIZ stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying AIZ exposure being hedged.
AIZ thesis for this long put
The market-implied 1-standard-deviation range for AIZ extends from approximately $267.41 on the downside to $297.53 on the upside. A AIZ long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long AIZ position with one put per 100 shares held. Current AIZ IV rank near 2.84% 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 AIZ at 18.60%. As a Financial Services name, AIZ options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AIZ-specific events.
AIZ 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. AIZ positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move AIZ alongside the broader basket even when AIZ-specific fundamentals are unchanged. Long-premium structures like a long put on AIZ 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 AIZ chain quotes before placing a trade.
Frequently asked questions
- What is a long put on AIZ?
- A long put on AIZ is the long put strategy applied to AIZ (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 AIZ stock at $282.47 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed AIZ chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are AIZ 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 AIZ long put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 18.60%), the computed maximum profit is $27,479.00 per contract and the computed maximum loss is -$520.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a AIZ long put?
- The breakeven for the AIZ long put priced on this page is roughly $274.80 at expiration, derived from the August 14, 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. The AIZ market-implied 1-standard-deviation expected move in the same options snapshot is approximately 5.33%; 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 AIZ?
- Long puts on AIZ hedge an existing long AIZ stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying AIZ exposure being hedged.
- How does current AIZ implied volatility affect this long put?
- AIZ ATM IV is at 18.60% with IV rank near 2.84%, 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.