ASC Long Put Strategy
ASC (Ardmore Shipping Corporation), in the Industrials sector, (Marine Shipping industry), listed on NYSE.
Ardmore Shipping Corporation is a global enterprise dedicated to the maritime carriage of refined oil derivatives and various chemical substances. By February 15, 2022, the firm maintained an active fleet of 25 modern, twin-hulled vessels specifically designed for the transport of these product types. It caters to a diverse range of clientele, including prominent oil industry giants, independent petroleum companies, traders specializing in oil and chemical commodities, chemical manufacturing businesses, and organizations providing shipping pool services. Established in 2010, Ardmore Shipping's corporate headquarters are located in Pembroke, Bermuda.
ASC (Ardmore Shipping Corporation) trades in the Industrials sector, specifically Marine Shipping, with a market capitalization of approximately $616.9M, a trailing P/E of 10.56, a beta of -0.01 versus the broader market, a 52-week range of 9.53-20.03, average daily share volume of 636K, a public-listing history dating back to 2013, approximately 56 full-time employees. These structural characteristics shape how ASC stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of -0.01 indicates ASC has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. The trailing P/E of 10.56 is on the value side, where IV often compresses outside event windows because forward growth expectations are already discounted into the share price. ASC pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a long put on ASC?
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 ASC snapshot
As of June 30, 2026, spot at $13.95, ATM IV 46.60%, IV rank 10.86%, expected move 13.36%. The long put on ASC 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 17-day expiry.
Why this long put structure on ASC specifically: ASC IV at 46.60% is on the cheap side of its 1-year range, which favors premium-buying structures like a ASC long put, with a market-implied 1-standard-deviation move of approximately 13.36% (roughly $1.86 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated ASC expiries trade a higher absolute premium for lower per-day decay. Position sizing on ASC should anchor to the underlying notional of $13.95 per share and to the trader's directional view on ASC stock.
ASC long put setup
The ASC 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 ASC near $13.95, the first option leg uses a $13.95 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ASC chain at a 17-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 ASC shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $13.95 | N/A |
ASC long put risk and reward
- Net Premium / Debit
- N/A
- Max Profit (per contract)
- Unbounded
- Max Loss (per contract)
- Unbounded
- Breakeven(s)
- None on modeled curve
- Risk / Reward Ratio
- N/A
Max profit equals the strike minus premium times 100 (reached at zero); max loss equals the premium times 100. Breakeven is strike minus premium.
ASC long put payoff curve
Modeled P&L at expiration across a range of underlying prices for the long put on ASC. 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.
When traders use long put on ASC
Long puts on ASC hedge an existing long ASC stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying ASC exposure being hedged.
ASC thesis for this long put
The market-implied 1-standard-deviation range for ASC extends from approximately $12.09 on the downside to $15.81 on the upside. A ASC long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long ASC position with one put per 100 shares held. Current ASC IV rank near 10.86% 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 ASC at 46.60%. As a Industrials name, ASC options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ASC-specific events.
ASC 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. ASC positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ASC alongside the broader basket even when ASC-specific fundamentals are unchanged. Long-premium structures like a long put on ASC 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 ASC chain quotes before placing a trade.
Frequently asked questions
- What is a long put on ASC?
- A long put on ASC is the long put strategy applied to ASC (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 ASC stock trading near $13.95, the strikes shown on this page are snapped to the nearest listed ASC chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are ASC 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 ASC long put priced from the end-of-day chain at a 30-day expiry (ATM IV 46.60%), the computed maximum profit is unbounded per contract and the computed maximum loss is unbounded per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a ASC long put?
- The breakeven for the ASC long put priced on this page is no defined breakeven on the modeled curve 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 ASC market-implied 1-standard-deviation expected move is approximately 13.36%; 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 ASC?
- Long puts on ASC hedge an existing long ASC stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying ASC exposure being hedged.
- How does current ASC implied volatility affect this long put?
- ASC ATM IV is at 46.60% with IV rank near 10.86%, 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.