ATLO Long Put Strategy
ATLO (Ames National Corporation), in the Financial Services sector, (Banks - Regional industry), listed on NASDAQ.
Ames National Corporation operates as a multi-bank holding company that provides banking products and services primarily in Boone, Clarke, Hancock, Marshall, Polk, Story, Taylor, and Union Counties in central, north-central, and south-central Iowa. It accepts various deposit products, including checking and savings accounts; and time deposits, such as money market accounts and certificates of deposit. The company also provides loans, such as short-term and medium-term commercial, multi-family and agricultural real estate, residential real estate loans, equipment, vehicle, and home improvement loans; consumer loans to finance consumer purchases, such as automobiles, trucks, recreational vehicles, household furnishings, boats, personal loans, and lines of credit; agricultural and business operating loans and lines of credit; and originates mortgage loans for sale into the secondary market. In addition, it offers cash management, merchant credit card processing, safe deposit box, wire transfer, direct deposit, and automated/video teller machine access services; and automatic drafts for various accounts, as well as wealth management services. Further, it provides farm management, investment, and custodial services for individuals, businesses, and non-profit organizations; and online, mobile, and private banking services. Ames National Corporation was founded in 1903 and is headquartered in Ames, Iowa.
ATLO (Ames National Corporation) trades in the Financial Services sector, specifically Banks - Regional, with a market capitalization of approximately $279.9M, a trailing P/E of 12.19, a beta of 0.30 versus the broader market, a 52-week range of 18.93-32.23, average daily share volume of 66K, a public-listing history dating back to 2000, approximately 260 full-time employees. These structural characteristics shape how ATLO stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.30 indicates ATLO has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. ATLO pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a long put on ATLO?
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.
ATLO snapshot
As of August 14, 2026, spot at $31.79, ATM IV 38.20%, IV rank 6.92%, expected move 10.95%. The long put on ATLO below is built from the 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 ATLO specifically: ATLO IV at 38.20% is on the cheap side of its 1-year range, which favors premium-buying structures like a ATLO long put, with a market-implied 1-standard-deviation move of approximately 10.95% (roughly $3.48 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 ATLO expiries trade a higher absolute premium for lower per-day decay. Position sizing on ATLO should anchor to the underlying notional of $31.79 per share and to the trader's directional view on ATLO stock.
ATLO long put setup
The ATLO 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 ATLO at $31.79 on that close, the first option leg uses a $31.79 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ATLO 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 ATLO shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $31.79 | N/A |
ATLO 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.
ATLO long put payoff curve
Modeled P&L at expiration across a range of underlying prices for the long put on ATLO. 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 ATLO
Long puts on ATLO hedge an existing long ATLO stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying ATLO exposure being hedged.
ATLO thesis for this long put
The market-implied 1-standard-deviation range for ATLO extends from approximately $28.31 on the downside to $35.27 on the upside. A ATLO long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long ATLO position with one put per 100 shares held. Current ATLO IV rank near 6.92% 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 ATLO at 38.20%. As a Financial Services name, ATLO options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ATLO-specific events.
ATLO 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. ATLO positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ATLO alongside the broader basket even when ATLO-specific fundamentals are unchanged. Long-premium structures like a long put on ATLO 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 ATLO chain quotes before placing a trade.
Frequently asked questions
- What is a long put on ATLO?
- A long put on ATLO is the long put strategy applied to ATLO (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 ATLO stock at $31.79 on the most recent close, the strikes shown on this page are snapped to the nearest listed ATLO chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are ATLO 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 ATLO long put priced from the end-of-day chain at a 30-day expiry (ATM IV 38.20%), 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 ATLO long put?
- The breakeven for the ATLO long put priced on this page is no defined breakeven on the modeled curve at expiration, derived from the 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 ATLO market-implied 1-standard-deviation expected move in the same options snapshot is approximately 10.95%; 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 ATLO?
- Long puts on ATLO hedge an existing long ATLO stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying ATLO exposure being hedged.
- How does current ATLO implied volatility affect this long put?
- ATLO ATM IV is at 38.20% with IV rank near 6.92%, 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.