UNIT Long Call Strategy
UNIT (Uniti Group Inc.), in the Real Estate sector, (REIT - Specialty industry), listed on NASDAQ.
Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of wireless infrastructure solutions for the communications industry. As of September 30, 2020, Uniti owns 6.7 million fiber strand miles and other communications real estate throughout the United States.
UNIT (Uniti Group Inc.) trades in the Real Estate sector, specifically REIT - Specialty, with a market capitalization of approximately $2.74B, a trailing P/E of 2.40, a beta of 1.45 versus the broader market, a 52-week range of 5.3-12.385, average daily share volume of 2.5M, a public-listing history dating back to 2015, approximately 758 full-time employees. These structural characteristics shape how UNIT stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.45 indicates UNIT has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. The trailing P/E of 2.40 is on the value side, where IV often compresses outside event windows because forward growth expectations are already discounted into the share price. UNIT pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a long call on UNIT?
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 UNIT snapshot
As of May 15, 2026, spot at $11.04, ATM IV 46.80%, IV rank 22.45%, expected move 13.42%. The long call on UNIT 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 UNIT specifically: UNIT IV at 46.80% is on the cheap side of its 1-year range, which favors premium-buying structures like a UNIT long call, with a market-implied 1-standard-deviation move of approximately 13.42% (roughly $1.48 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 UNIT expiries trade a higher absolute premium for lower per-day decay. Position sizing on UNIT should anchor to the underlying notional of $11.04 per share and to the trader's directional view on UNIT stock.
UNIT long call setup
The UNIT 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 UNIT near $11.04, the first option leg uses a $11.04 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed UNIT 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 UNIT shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $11.04 | N/A |
UNIT 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.
UNIT long call payoff curve
Modeled P&L at expiration across a range of underlying prices for the long call on UNIT. 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 UNIT
Long calls on UNIT express a bullish thesis with defined risk; traders use them ahead of UNIT catalysts (earnings, product launches, macro events) when the expected upside justifies the premium and theta decay.
UNIT thesis for this long call
The market-implied 1-standard-deviation range for UNIT extends from approximately $9.56 on the downside to $12.52 on the upside. A UNIT 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 UNIT IV rank near 22.45% 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 UNIT at 46.80%. As a Real Estate name, UNIT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to UNIT-specific events.
UNIT 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. UNIT positions also carry Real Estate sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move UNIT alongside the broader basket even when UNIT-specific fundamentals are unchanged. Long-premium structures like a long call on UNIT 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 UNIT chain quotes before placing a trade.
Frequently asked questions
- What is a long call on UNIT?
- A long call on UNIT is the long call strategy applied to UNIT (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 UNIT stock trading near $11.04, the strikes shown on this page are snapped to the nearest listed UNIT chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are UNIT 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 UNIT long call priced from the end-of-day chain at a 30-day expiry (ATM IV 46.80%), 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 UNIT long call?
- The breakeven for the UNIT 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 UNIT market-implied 1-standard-deviation expected move is approximately 13.42%; 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 UNIT?
- Long calls on UNIT express a bullish thesis with defined risk; traders use them ahead of UNIT catalysts (earnings, product launches, macro events) when the expected upside justifies the premium and theta decay.
- How does current UNIT implied volatility affect this long call?
- UNIT ATM IV is at 46.80% with IV rank near 22.45%, 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.