ACIU Cash-Secured Put Strategy
ACIU (AC Immune S.A.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
AC Immune S.A. is a biotech firm operating at the clinical stage, dedicated to pioneering, formulating, and advancing therapeutic agents and diagnostic tools. Its core mission is addressing neurodegenerative conditions rooted in protein misfolding, both preventatively and therapeutically. Leveraging its proprietary SupraAntigen and Morphomer platforms, the company engineers a range of vaccines, antibodies, and small molecules specifically designed to engage with aberrantly folded proteins implicated across various neurodegenerative disorders. Its pipeline features Crenezumab, a humanized, conformation-specific monoclonal antibody currently undergoing a Phase II clinical prevention trial for Alzheimer's disease (AD). Additionally, AC Immune is advancing ACI-24, an anti-Abeta vaccine candidate, which is in Phase II clinical evaluation for AD and has successfully completed a Phase Ib study for Down syndrome. Other key candidates include ACI-35, an anti-Tau vaccine candidate that has finished Phase Ib clinical assessment, and a Tau-positron emission tomography (PET) imaging tracer, also in Phase II development.
ACIU (AC Immune S.A.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $266.6M, a beta of 1.57 versus the broader market, a 52-week range of 2.03-4, average daily share volume of 259K, a public-listing history dating back to 2016, approximately 106 full-time employees. These structural characteristics shape how ACIU stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.57 indicates ACIU has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.
What is a cash-secured put on ACIU?
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.
ACIU snapshot
As of August 14, 2026, spot at $2.51, ATM IV 176.30%, IV rank 40.71%, expected move 50.54%. The cash-secured put on ACIU below is built from the end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.
Why this cash-secured put structure on ACIU specifically: ACIU IV at 176.30% is mid-range versus its 1-year history, so the credit collected on a ACIU cash-secured put sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 50.54% (roughly $1.27 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated ACIU expiries trade a higher absolute premium for lower per-day decay. Position sizing on ACIU should anchor to the underlying notional of $2.51 per share and to the trader's directional view on ACIU stock.
ACIU cash-secured put setup
The ACIU 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 ACIU at $2.51 on that close, the first option leg uses a $2.38 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ACIU chain at a 35-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 ACIU shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $2.38 | N/A |
ACIU 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.
ACIU cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on ACIU. 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 ACIU
Cash-secured puts on ACIU earn premium while a trader waits to acquire ACIU stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning ACIU.
ACIU thesis for this cash-secured put
The market-implied 1-standard-deviation range for ACIU extends from approximately $1.24 on the downside to $3.78 on the upside. A ACIU cash-secured put lets a trader earn premium while waiting to acquire ACIU 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 ACIU IV rank near 40.71% is mid-range against its 1-year distribution, so the IV signal is neutral; the cash-secured put thesis on ACIU should anchor more to the directional view and the expected-move geometry. As a Healthcare name, ACIU options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ACIU-specific events.
ACIU 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. ACIU positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ACIU alongside the broader basket even when ACIU-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on ACIU carry tail risk when realized volatility exceeds the implied move; review historical ACIU earnings reactions and macro stress periods before sizing. Always rebuild the position from current ACIU chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on ACIU?
- A cash-secured put on ACIU is the cash-secured put strategy applied to ACIU (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 ACIU stock at $2.51 on the most recent close, the strikes shown on this page are snapped to the nearest listed ACIU chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are ACIU 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 ACIU cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 176.30%), 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 ACIU cash-secured put?
- The breakeven for the ACIU cash-secured put priced on this page is no defined breakeven on the modeled curve at expiration, derived from the end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The ACIU market-implied 1-standard-deviation expected move in the same options snapshot is approximately 50.54%; 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 ACIU?
- Cash-secured puts on ACIU earn premium while a trader waits to acquire ACIU stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning ACIU.
- How does current ACIU implied volatility affect this cash-secured put?
- ACIU ATM IV is at 176.30% with IV rank near 40.71%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.