ACHC Cash-Secured Put Strategy
ACHC (Acadia Healthcare Company, Inc.), in the Healthcare sector, (Medical - Care Facilities industry), listed on NASDAQ.
Acadia Healthcare Company, Inc. provides behavioral healthcare services in the United States and Puerto Rico. The company offers behavioral healthcare services to its patients in various settings, including inpatient psychiatric hospitals, specialty treatment facilities, residential treatment centers, and outpatient clinics. As of March 31, 2022, it operated a network of 238 behavioral healthcare facilities with approximately 10,600 beds. The company was founded in 2005 and is headquartered in Franklin, Tennessee.
ACHC (Acadia Healthcare Company, Inc.) trades in the Healthcare sector, specifically Medical - Care Facilities, with a market capitalization of approximately $2.50B, a beta of 0.73 versus the broader market, a 52-week range of 11.43-30.2, average daily share volume of 3.4M, a public-listing history dating back to 1994, approximately 26K full-time employees. These structural characteristics shape how ACHC stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.73 places ACHC roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.
What is a cash-secured put on ACHC?
A cash-secured put sells an out-of-the-money put while holding cash equal to the strike-times-100 obligation, keeping the premium when the underlying stays above the strike.
Current ACHC snapshot
As of May 15, 2026, spot at $26.01, ATM IV 59.90%, IV rank 13.52%, expected move 17.17%. The cash-secured put on ACHC 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 cash-secured put structure on ACHC specifically: ACHC IV at 59.90% is on the cheap side of its 1-year range, which means a premium-selling ACHC cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 17.17% (roughly $4.47 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 ACHC expiries trade a higher absolute premium for lower per-day decay. Position sizing on ACHC should anchor to the underlying notional of $26.01 per share and to the trader's directional view on ACHC stock.
ACHC cash-secured put setup
The ACHC cash-secured 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 ACHC near $26.01, the first option leg uses a $24.71 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ACHC 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 ACHC shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $24.71 | N/A |
ACHC cash-secured 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 premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.
ACHC cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on ACHC. 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 cash-secured put on ACHC
Cash-secured puts on ACHC earn premium while a trader waits to acquire ACHC stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning ACHC.
ACHC thesis for this cash-secured put
The market-implied 1-standard-deviation range for ACHC extends from approximately $21.54 on the downside to $30.48 on the upside. A ACHC cash-secured put lets a trader earn premium while waiting to acquire ACHC at the strike price; the strategy is most attractive when the trader is comfortable holding the underlying at that level and IV is rich enough to compensate for the assignment risk. Current ACHC IV rank near 13.52% 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 ACHC at 59.90%. As a Healthcare name, ACHC options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ACHC-specific events.
ACHC cash-secured put positions are structurally neutral to slightly 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. ACHC positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ACHC alongside the broader basket even when ACHC-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on ACHC carry tail risk when realized volatility exceeds the implied move; review historical ACHC earnings reactions and macro stress periods before sizing. Always rebuild the position from current ACHC chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on ACHC?
- A cash-secured put on ACHC is the cash-secured put strategy applied to ACHC (stock). The strategy is structurally neutral to slightly bullish: A cash-secured put sells an out-of-the-money put while holding cash equal to the strike-times-100 obligation, keeping the premium when the underlying stays above the strike. With ACHC stock trading near $26.01, the strikes shown on this page are snapped to the nearest listed ACHC chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are ACHC cash-secured put max profit and max loss calculated?
- Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium. For the ACHC cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 59.90%), 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 ACHC cash-secured put?
- The breakeven for the ACHC cash-secured 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 ACHC market-implied 1-standard-deviation expected move is approximately 17.17%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a cash-secured put on ACHC?
- Cash-secured puts on ACHC earn premium while a trader waits to acquire ACHC stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning ACHC.
- How does current ACHC implied volatility affect this cash-secured put?
- ACHC ATM IV is at 59.90% with IV rank near 13.52%, 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.