ADUR Cash-Secured Put Strategy
ADUR (Aduro Clean Technologies Inc.), in the Basic Materials sector, (Chemicals - Specialty industry), listed on NASDAQ.
Aduro Clean Technologies Inc. develops water-based chemical recycling technologies. Its platform converts end-of-life plastics and tire rubber into specialty chemicals and fuels; upgrades heavy crude oils; and transforms renewable oils into renewable fuels and specialty chemicals. The company is based in London, Canada.
ADUR (Aduro Clean Technologies Inc.) trades in the Basic Materials sector, specifically Chemicals - Specialty, with a market capitalization of approximately $430.0M, a beta of 1.29 versus the broader market, a 52-week range of 5.88-17.66, average daily share volume of 281K, a public-listing history dating back to 2024, approximately 25 full-time employees. These structural characteristics shape how ADUR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.29 places ADUR 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 ADUR?
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 ADUR snapshot
As of May 15, 2026, spot at $13.85, ATM IV 85.70%, IV rank 13.98%, expected move 24.57%. The cash-secured put on ADUR 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 ADUR specifically: ADUR IV at 85.70% is on the cheap side of its 1-year range, which means a premium-selling ADUR cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 24.57% (roughly $3.40 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 ADUR expiries trade a higher absolute premium for lower per-day decay. Position sizing on ADUR should anchor to the underlying notional of $13.85 per share and to the trader's directional view on ADUR stock.
ADUR cash-secured put setup
The ADUR 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 ADUR near $13.85, the first option leg uses a $13.16 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ADUR 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 ADUR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $13.16 | N/A |
ADUR 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.
ADUR cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on ADUR. 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 ADUR
Cash-secured puts on ADUR earn premium while a trader waits to acquire ADUR stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning ADUR.
ADUR thesis for this cash-secured put
The market-implied 1-standard-deviation range for ADUR extends from approximately $10.45 on the downside to $17.25 on the upside. A ADUR cash-secured put lets a trader earn premium while waiting to acquire ADUR 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 ADUR IV rank near 13.98% 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 ADUR at 85.70%. As a Basic Materials name, ADUR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ADUR-specific events.
ADUR 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. ADUR positions also carry Basic Materials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ADUR alongside the broader basket even when ADUR-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on ADUR carry tail risk when realized volatility exceeds the implied move; review historical ADUR earnings reactions and macro stress periods before sizing. Always rebuild the position from current ADUR chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on ADUR?
- A cash-secured put on ADUR is the cash-secured put strategy applied to ADUR (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 ADUR stock trading near $13.85, the strikes shown on this page are snapped to the nearest listed ADUR chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are ADUR 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 ADUR cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 85.70%), 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 ADUR cash-secured put?
- The breakeven for the ADUR 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 ADUR market-implied 1-standard-deviation expected move is approximately 24.57%; 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 ADUR?
- Cash-secured puts on ADUR earn premium while a trader waits to acquire ADUR stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning ADUR.
- How does current ADUR implied volatility affect this cash-secured put?
- ADUR ATM IV is at 85.70% with IV rank near 13.98%, 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.