FFIC Long Put Strategy
FFIC (Flushing Financial Corporation), in the Financial Services sector, (Banks - Regional industry), listed on NASDAQ.
Flushing Financial Corporation operates as the bank holding company for Flushing Bank that provides banking products and services primarily to consumers, businesses, and governmental units. It offers various deposit products, including checking and savings accounts, money market accounts, demand accounts, NOW accounts, and certificates of deposit. The company also provides mortgage loans secured by multi-family residential, commercial real estate, one-to-four family mixed-use property, one-to-four family residential property, and commercial business loans; construction loans; small business administration loans and other small business loans; mortgage loan surrogates, such as mortgage-backed securities; and consumer loans, including overdraft lines of credit, as well as the United States government securities, corporate fixed-income securities, and other marketable securities. In addition, it offers banking services to public municipalities comprising counties, cities, towns, villages, school districts, libraries, fire districts, and various courts. As of December 31, 2021, the company operated 24 full-service offices located in the New York City boroughs of Queens, Brooklyn, and Manhattan; and in Nassau and Suffolk County, New York, as well as an Internet branch. Flushing Financial Corporation was founded in 1929 and is based in Uniondale, New York.
FFIC (Flushing Financial Corporation) trades in the Financial Services sector, specifically Banks - Regional, with a market capitalization of approximately $521.5M, a trailing P/E of 15.15, a beta of 0.76 versus the broader market, a 52-week range of 11.13-17.79, average daily share volume of 229K, a public-listing history dating back to 1995, approximately 571 full-time employees. These structural characteristics shape how FFIC stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.76 places FFIC roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. FFIC pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a long put on FFIC?
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 FFIC snapshot
As of May 15, 2026, spot at $15.44, ATM IV 113.30%, IV rank 50.54%, expected move 32.48%. The long put on FFIC 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 FFIC specifically: FFIC IV at 113.30% is mid-range versus its 1-year history, so strategy selection should anchor more to the directional thesis than to the IV regime, with a market-implied 1-standard-deviation move of approximately 32.48% (roughly $5.02 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 FFIC expiries trade a higher absolute premium for lower per-day decay. Position sizing on FFIC should anchor to the underlying notional of $15.44 per share and to the trader's directional view on FFIC stock.
FFIC long put setup
The FFIC 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 FFIC near $15.44, the first option leg uses a $15.44 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed FFIC 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 FFIC shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $15.44 | N/A |
FFIC 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.
FFIC long put payoff curve
Modeled P&L at expiration across a range of underlying prices for the long put on FFIC. 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 FFIC
Long puts on FFIC hedge an existing long FFIC stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying FFIC exposure being hedged.
FFIC thesis for this long put
The market-implied 1-standard-deviation range for FFIC extends from approximately $10.42 on the downside to $20.46 on the upside. A FFIC long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long FFIC position with one put per 100 shares held. Current FFIC IV rank near 50.54% is mid-range against its 1-year distribution, so the IV signal is neutral; the long put thesis on FFIC should anchor more to the directional view and the expected-move geometry. As a Financial Services name, FFIC options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to FFIC-specific events.
FFIC 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. FFIC positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move FFIC alongside the broader basket even when FFIC-specific fundamentals are unchanged. Long-premium structures like a long put on FFIC 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 FFIC chain quotes before placing a trade.
Frequently asked questions
- What is a long put on FFIC?
- A long put on FFIC is the long put strategy applied to FFIC (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 FFIC stock trading near $15.44, the strikes shown on this page are snapped to the nearest listed FFIC chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are FFIC 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 FFIC long put priced from the end-of-day chain at a 30-day expiry (ATM IV 113.30%), 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 FFIC long put?
- The breakeven for the FFIC 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 FFIC market-implied 1-standard-deviation expected move is approximately 32.48%; 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 FFIC?
- Long puts on FFIC hedge an existing long FFIC stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying FFIC exposure being hedged.
- How does current FFIC implied volatility affect this long put?
- FFIC ATM IV is at 113.30% with IV rank near 50.54%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.