FLGT Long Put Strategy
FLGT (Fulgent Genetics, Inc.), in the Healthcare sector, (Medical - Diagnostics & Research industry), listed on NASDAQ.
Fulgent Genetics, Inc., together with its affiliated companies, offers a comprehensive suite of COVID-19, molecular diagnostic, and genetic testing services to healthcare providers and individuals globally. Their diverse array of genetic tests covers a wide range of applications, including extensive oncology panels and solid tumor molecular profiling for cancer identification, Beacon carrier screening for inherited conditions, and specialized rapid whole genome testing for critically ill infants in NICU and PICU units. Other offerings include a newborn genetic analysis panel, a front-line test to sequence ataxia-related variants, and patient-initiated genetic testing via Picture Genetics. They also provide comprehensive whole exome, clinical exome, whole genome, mutation, and repeat expansion testing, alongside research service tests. For COVID-19, the company delivers next-generation sequencing, reverse transcription polymerase chain reaction (RT-PCR), and antigen-based diagnostic solutions for SARS-CoV-2. Beyond genetic and COVID-19 diagnostics, Fulgent Genetics performs advanced laboratory analyses such as flow cytometry for cell analysis and malignancy monitoring, fluorescence in-situ hybridization (FISH) for specific DNA sequence detection, immunohistochemistry (IHC) to visualize cellular antigens, and cytogenetics for assessing chromosomal anomalies, in addition to molecular testing for both hematopoietic and solid tumors.
FLGT (Fulgent Genetics, Inc.) trades in the Healthcare sector, specifically Medical - Diagnostics & Research, with a market capitalization of approximately $566.9M, a beta of 0.92 versus the broader market, a 52-week range of 13.46-31.04, average daily share volume of 489K, a public-listing history dating back to 2016, approximately 1K full-time employees. These structural characteristics shape how FLGT stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.92 places FLGT roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.
What is a long put on FLGT?
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 FLGT snapshot
As of June 30, 2026, spot at $20.48, ATM IV 410.50%, IV rank 95.03%, expected move 117.69%. The long put on FLGT 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 FLGT specifically: FLGT IV at 410.50% is rich versus its 1-year range, which makes a premium-buying FLGT long put relatively expensive in absolute-cost terms, with a market-implied 1-standard-deviation move of approximately 117.69% (roughly $24.10 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 FLGT expiries trade a higher absolute premium for lower per-day decay. Position sizing on FLGT should anchor to the underlying notional of $20.48 per share and to the trader's directional view on FLGT stock.
FLGT long put setup
The FLGT 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 FLGT near $20.48, the first option leg uses a $20.48 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed FLGT 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 FLGT shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $20.48 | N/A |
FLGT 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.
FLGT long put payoff curve
Modeled P&L at expiration across a range of underlying prices for the long put on FLGT. 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 FLGT
Long puts on FLGT hedge an existing long FLGT stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying FLGT exposure being hedged.
FLGT thesis for this long put
The market-implied 1-standard-deviation range for FLGT extends from approximately $-3.62 on the downside to $44.58 on the upside. A FLGT long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long FLGT position with one put per 100 shares held. Current FLGT IV rank near 95.03% sits in the upper third of its 1-year distribution, which historically reverts; this raises the bar for premium-buying structures and lowers it for premium-selling structures on FLGT at 410.50%. As a Healthcare name, FLGT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to FLGT-specific events.
FLGT 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. FLGT positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move FLGT alongside the broader basket even when FLGT-specific fundamentals are unchanged. Long-premium structures like a long put on FLGT 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 FLGT chain quotes before placing a trade.
Frequently asked questions
- What is a long put on FLGT?
- A long put on FLGT is the long put strategy applied to FLGT (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 FLGT stock trading near $20.48, the strikes shown on this page are snapped to the nearest listed FLGT chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are FLGT 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 FLGT long put priced from the end-of-day chain at a 30-day expiry (ATM IV 410.50%), 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 FLGT long put?
- The breakeven for the FLGT 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 FLGT market-implied 1-standard-deviation expected move is approximately 117.69%; 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 FLGT?
- Long puts on FLGT hedge an existing long FLGT stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying FLGT exposure being hedged.
- How does current FLGT implied volatility affect this long put?
- FLGT ATM IV is at 410.50% with IV rank near 95.03%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.