First Bancorp (FBNC) Straddle

Trading a FBNC straddle lets you take a pure volatility position on First Bancorp without committing to a direction. First Bancorp's straddle involves buying (or selling) a call and a put at the same strike and expiration, profiting when the stock moves more (or less) than the combined premium implies. Use our scanner to evaluate FBNC straddle pricing in real time and find the moments when expected moves are mispriced.

A long straddle on FBNC profits from large moves in either direction and is a classic play into binary events like earnings, product announcements, or macro releases. A short straddle profits when First Bancorp stays range-bound and implied volatility contracts. The breakeven points are simple: strike plus total premium on the upside, strike minus total premium on the downside. Comparing the FBNC straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.

First Bancorp operates as the bank holding company for First Bank that provides banking products and services for individuals and small to medium-sized businesses primarily in North Carolina and northeastern South Carolina. It accepts deposit products, such as checking, savings, and money market accounts, as well as time deposits, including certificate of deposits and individual retirement accounts. The company also offers loans for a range of consumer and commercial purposes comprising loans for business, real estate, personal, home improvement, and automobiles, as well as residential mortgages and small business administration loans; and accounts receivable financing and factoring, inventory financing, and purchase order financing services.

In addition, it provides credit and debit cards, letter of credits, and safe deposit box rental services, as well as electronic funds transfer services consisting of wire transfers; and internet and mobile banking, cash management, bank-by-phone services, and remote deposit capture services. Further, the company offers investment and insurance products, such as mutual funds, annuities, long-term care insurance, life insurance, and company retirement plans, as well as property and casualty insurance products; and financial planning services. As of December 31, 2021, it operated 121 branches comprising 114 branch offices located in North Carolina and seven branches in South Carolina. First Bancorp was founded in 1934 and is headquartered in Southern Pines, North Carolina.

Earnings, product cycles, macro prints — any time volatility itself is the trade, the FBNC straddle is the cleanest expression of that view. Our scanner prices every FBNC straddle against historical realized moves, flags expirations where the market is overpaying or underpaying for vol, and ranks setups by breakeven width and IV rank. Whether you're long a FBNC straddle into a catalyst or short a FBNC straddle to harvest decay, the options straddle setups that matter are all in one place.