CNOB Long Call Strategy

CNOB (ConnectOne Bancorp, Inc.), in the Financial Services sector, (Banks - Regional industry), listed on NASDAQ.

ConnectOne Bancorp, Inc. operates as the bank holding company for ConnectOne Bank that provides commercial banking products and services for small and mid-sized businesses, local professionals, and individuals in the Northern New Jersey and New York Metropolitan area, and South Florida market. The company offers personal and business checking, retirement, money market, and time and savings accounts. It also provides consumer and commercial business loans on a secured and unsecured basis; revolving lines of credit; commercial mortgage loans; residential mortgages on primary and secondary residences; home equity loans; bridge loans; other personal purpose loans; and commercial construction and real estate loans. In addition, the company offers check cards, ATM cards, credit cards, wire transfers, access to automated teller services, Internet banking, treasury direct, automated clearing house origination, mobile banking by phone, safe deposit boxes, and remote deposit capture services. It operates through a network of eight banking offices in Bergen County, five banking offices in Union County, one banking office in Morris County, one office in Essex County, one office in Hudson County, one office in Monmouth County, one banking office in Manhattan in New York City, one office in Nassau County on Long Island, one in Astoria, and five branches in the Hudson Valley, as well as one financial center in West Palm Beach in Palm Beach County. The company was formerly known as Center Bancorp, Inc. and changed its name to ConnectOne Bancorp, Inc. in July 2014.

CNOB (ConnectOne Bancorp, Inc.) trades in the Financial Services sector, specifically Banks - Regional, with a market capitalization of approximately $1.47B, a trailing P/E of 15.05, a beta of 1.06 versus the broader market, a 52-week range of 21.79-30.65, average daily share volume of 354K, a public-listing history dating back to 1994, approximately 489 full-time employees. These structural characteristics shape how CNOB stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.06 places CNOB roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. CNOB pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a long call on CNOB?

A long call buys upside exposure with a fixed maximum loss equal to the premium paid; profit accrues if the underlying closes above the strike plus premium at expiration.

Current CNOB snapshot

As of May 15, 2026, spot at $28.94, ATM IV 52.40%, IV rank 17.06%, expected move 15.02%. The long call on CNOB 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 call structure on CNOB specifically: CNOB IV at 52.40% is on the cheap side of its 1-year range, which favors premium-buying structures like a CNOB long call, with a market-implied 1-standard-deviation move of approximately 15.02% (roughly $4.35 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 CNOB expiries trade a higher absolute premium for lower per-day decay. Position sizing on CNOB should anchor to the underlying notional of $28.94 per share and to the trader's directional view on CNOB stock.

CNOB long call setup

The CNOB long call below is built from the end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With CNOB near $28.94, the first option leg uses a $28.94 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CNOB 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 CNOB shares for the stock leg in covered calls and collars).

ActionTypeStrike / BasisPremium (est)
Buy 1Call$28.94N/A

CNOB long call 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 is unbounded; max loss equals the premium paid times 100. Breakeven is strike plus premium.

CNOB long call payoff curve

Modeled P&L at expiration across a range of underlying prices for the long call on CNOB. 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 call on CNOB

Long calls on CNOB express a bullish thesis with defined risk; traders use them ahead of CNOB catalysts (earnings, product launches, macro events) when the expected upside justifies the premium and theta decay.

CNOB thesis for this long call

The market-implied 1-standard-deviation range for CNOB extends from approximately $24.59 on the downside to $33.29 on the upside. A CNOB long call expresses a directional view that the underlying closes above the strike plus premium at expiration, ideally with implied volatility holding or expanding to preserve extrinsic value through the hold period. Current CNOB IV rank near 17.06% 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 CNOB at 52.40%. As a Financial Services name, CNOB options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CNOB-specific events.

CNOB long call positions are structurally bullish; 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. CNOB positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CNOB alongside the broader basket even when CNOB-specific fundamentals are unchanged. Long-premium structures like a long call on CNOB 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 CNOB chain quotes before placing a trade.

Frequently asked questions

What is a long call on CNOB?
A long call on CNOB is the long call strategy applied to CNOB (stock). The strategy is structurally bullish: A long call buys upside exposure with a fixed maximum loss equal to the premium paid; profit accrues if the underlying closes above the strike plus premium at expiration. With CNOB stock trading near $28.94, the strikes shown on this page are snapped to the nearest listed CNOB chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are CNOB long call max profit and max loss calculated?
Max profit is unbounded; max loss equals the premium paid times 100. Breakeven is strike plus premium. For the CNOB long call priced from the end-of-day chain at a 30-day expiry (ATM IV 52.40%), 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 CNOB long call?
The breakeven for the CNOB long call 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 CNOB market-implied 1-standard-deviation expected move is approximately 15.02%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a long call on CNOB?
Long calls on CNOB express a bullish thesis with defined risk; traders use them ahead of CNOB catalysts (earnings, product launches, macro events) when the expected upside justifies the premium and theta decay.
How does current CNOB implied volatility affect this long call?
CNOB ATM IV is at 52.40% with IV rank near 17.06%, 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.

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