KNSL Long Put Strategy
KNSL (Kinsale Capital Group, Inc.), in the Financial Services sector, (Insurance - Property & Casualty industry), listed on NYSE.
Kinsale Capital Group, Inc. engages in the provision of property and casualty insurance products in the United States. The company’s commercial lines offerings include commercial property, excess casualty, general casualty, small business casualty, construction, allied health, small business property, products liability, entertainment, commercial auto, energy, excess professional, life sciences, inland marine, professional liability, environmental, health care, management liability, public entity, agribusiness casualty and property, aviation, ocean marine, and product recall insurance. Its personal lines offerings also include high value homeowners and personal insurance products. The company sells its insurance products in all 50 states, the District of Columbia, the Commonwealth of Puerto Rico, and the U.S. Virgin Islands primarily through a network of independent insurance brokers. Kinsale Capital Group, Inc. was founded in 2009 and is headquartered in Richmond, Virginia.
KNSL (Kinsale Capital Group, Inc.) trades in the Financial Services sector, specifically Insurance - Property & Casualty, with a market capitalization of approximately $7.57B, a trailing P/E of 14.32, a beta of 0.91 versus the broader market, a 52-week range of 287.2-512.76, average daily share volume of 316K, a public-listing history dating back to 2016, approximately 716 full-time employees. These structural characteristics shape how KNSL stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.91 places KNSL roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. KNSL pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a long put on KNSL?
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 KNSL snapshot
As of June 30, 2026, spot at $332.11, ATM IV 34.70%, IV rank 27.49%, expected move 9.95%. The long put on KNSL 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 KNSL specifically: KNSL IV at 34.70% is on the cheap side of its 1-year range, which favors premium-buying structures like a KNSL long put, with a market-implied 1-standard-deviation move of approximately 9.95% (roughly $33.04 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 KNSL expiries trade a higher absolute premium for lower per-day decay. Position sizing on KNSL should anchor to the underlying notional of $332.11 per share and to the trader's directional view on KNSL stock.
KNSL long put setup
The KNSL 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 KNSL near $332.11, the first option leg uses a $330.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed KNSL 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 KNSL shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $330.00 | $8.75 |
KNSL long put risk and reward
- Net Premium / Debit
- -$875.00
- Max Profit (per contract)
- $32,124.00
- Max Loss (per contract)
- -$875.00
- Breakeven(s)
- $321.25
- Risk / Reward Ratio
- 36.713
Max profit equals the strike minus premium times 100 (reached at zero); max loss equals the premium times 100. Breakeven is strike minus premium.
KNSL long put payoff curve
Modeled P&L at expiration across a range of underlying prices for the long put on KNSL. 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.
| Underlying Price | % From Spot | P&L at Expiration |
|---|---|---|
| $0.01 | -100.0% | +$32,124.00 |
| $73.44 | -77.9% | +$24,780.97 |
| $146.87 | -55.8% | +$17,437.95 |
| $220.30 | -33.7% | +$10,094.92 |
| $293.73 | -11.6% | +$2,751.90 |
| $367.16 | +10.6% | -$875.00 |
| $440.59 | +32.7% | -$875.00 |
| $514.02 | +54.8% | -$875.00 |
| $587.45 | +76.9% | -$875.00 |
| $660.88 | +99.0% | -$875.00 |
When traders use long put on KNSL
Long puts on KNSL hedge an existing long KNSL stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying KNSL exposure being hedged.
KNSL thesis for this long put
The market-implied 1-standard-deviation range for KNSL extends from approximately $299.07 on the downside to $365.15 on the upside. A KNSL long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long KNSL position with one put per 100 shares held. Current KNSL IV rank near 27.49% 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 KNSL at 34.70%. As a Financial Services name, KNSL options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to KNSL-specific events.
KNSL 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. KNSL positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move KNSL alongside the broader basket even when KNSL-specific fundamentals are unchanged. Long-premium structures like a long put on KNSL 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 KNSL chain quotes before placing a trade.
Frequently asked questions
- What is a long put on KNSL?
- A long put on KNSL is the long put strategy applied to KNSL (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 KNSL stock trading near $332.11, the strikes shown on this page are snapped to the nearest listed KNSL chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are KNSL 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 KNSL long put priced from the end-of-day chain at a 30-day expiry (ATM IV 34.70%), the computed maximum profit is $32,124.00 per contract and the computed maximum loss is -$875.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a KNSL long put?
- The breakeven for the KNSL long put priced on this page is roughly $321.25 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 KNSL market-implied 1-standard-deviation expected move is approximately 9.95%; 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 KNSL?
- Long puts on KNSL hedge an existing long KNSL stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying KNSL exposure being hedged.
- How does current KNSL implied volatility affect this long put?
- KNSL ATM IV is at 34.70% with IV rank near 27.49%, 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.