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 end-of-day chain at a 30-day expiry (ATM IV 22.20%), the computed maximum profit is $24,524.00 per contract and the computed maximum loss is -$475.00 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 $245.25 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 AIZ market-implied 1-standard-deviation expected move is approximately 6.36%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current AIZ implied volatility affect this long put?

AIZ ATM IV is at 22.20% with IV rank near 2.66%, 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.

AIZ Long Put Strategy

AIZ (Assurant, Inc.), in the Financial Services sector, (Insurance - Specialty industry), listed on NYSE.

Assurant, Inc., together with its subsidiaries, provides lifestyle and housing solutions that support, protect, and connect consumer purchases in North America, Latin America, Europe, and the Asia Pacific. The company operates through two segments: Global Lifestyle and Global Housing. The Global Lifestyle segment offers mobile device solutions, and extended service products and related services for mobile devices, consumer electronics, and appliances; vehicle protection and related services; and credit protection and other insurance products. The Global Housing segment provides lender-placed homeowners insurance, manufactured housing, and flood insurance; and renters insurance and related products, as well as voluntary manufactured housing insurance, voluntary homeowners insurance, and other specialty products. The company was formerly known as Fortis, Inc. and changed its name to Assurant, Inc. in February 2004. Assurant, Inc. was founded in 1892 and is headquartered in New York, New York.

AIZ (Assurant, Inc.) trades in the Financial Services sector, specifically Insurance - Specialty, with a market capitalization of approximately $12.02B, a trailing P/E of 12.06, a beta of 0.56 versus the broader market, a 52-week range of 183.39-247.42, average daily share volume of 397K, a public-listing history dating back to 2004, approximately 14K 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 0.56 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.

Current AIZ snapshot

As of May 15, 2026, spot at $254.32, ATM IV 22.20%, IV rank 2.66%, expected move 6.36%. The long put on AIZ 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 34-day expiry.

Why this long put structure on AIZ specifically: AIZ IV at 22.20% 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 6.36% (roughly $16.19 on the underlying). The 34-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 $254.32 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 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With AIZ near $254.32, the first option leg uses a $250.00 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 34-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	$250.00	$4.75

AIZ long put risk and reward

Net Premium / Debit: -$475.00
Max Profit (per contract): $24,524.00
Max Loss (per contract): -$475.00
Breakeven(s): $245.25
Risk / Reward Ratio: 51.629

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%	+$24,524.00
$56.24	-77.9%	+$18,900.95
$112.47	-55.8%	+$13,277.91
$168.70	-33.7%	+$7,654.86
$224.93	-11.6%	+$2,031.82
$281.16	+10.6%	-$475.00
$337.39	+32.7%	-$475.00
$393.62	+54.8%	-$475.00
$449.85	+76.9%	-$475.00
$506.08	+99.0%	-$475.00

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 $238.13 on the downside to $270.51 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 2.66% 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 22.20%. 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 trading near $254.32, the strikes shown on this page are snapped to the nearest listed AIZ chain strike and the premiums come straight from the end-of-day 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 end-of-day chain at a 30-day expiry (ATM IV 22.20%), the computed maximum profit is $24,524.00 per contract and the computed maximum loss is -$475.00 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 $245.25 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 AIZ market-implied 1-standard-deviation expected move is approximately 6.36%; 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 22.20% with IV rank near 2.66%, 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.