AGIO Cash-Secured Put Strategy

AGIO (Agios Pharmaceuticals, Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.

Agios Pharmaceuticals, Inc., a biopharmaceutical company, engages in the discovery and development of medicines in the field of cellular metabolism and adjacent areas of biology. The company offers PYRUKYND (mitapivat) an activator of both wild-type and a variety of mutant pyruvate kinase, PK, enzymes for the treatment of hemolytic anemias; and AG-946 that is in Phase I clinical study for treating hemolytic anemias and other indications. Agios Pharmaceuticals, Inc. was incorporated in 2007 and is headquartered in Cambridge, Massachusetts.

AGIO (Agios Pharmaceuticals, Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $1.71B, a beta of 0.58 versus the broader market, a 52-week range of 22.24-46, average daily share volume of 1.1M, a public-listing history dating back to 2013, approximately 486 full-time employees. These structural characteristics shape how AGIO stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.58 indicates AGIO has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure.

What is a cash-secured put on AGIO?

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 AGIO snapshot

As of May 15, 2026, spot at $28.13, ATM IV 55.50%, IV rank 11.31%, expected move 15.91%. The cash-secured put on AGIO 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 AGIO specifically: AGIO IV at 55.50% is on the cheap side of its 1-year range, which means a premium-selling AGIO cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 15.91% (roughly $4.48 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 AGIO expiries trade a higher absolute premium for lower per-day decay. Position sizing on AGIO should anchor to the underlying notional of $28.13 per share and to the trader's directional view on AGIO stock.

AGIO cash-secured put setup

The AGIO 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 AGIO near $28.13, the first option leg uses a $26.72 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AGIO 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 AGIO shares for the stock leg in covered calls and collars).

ActionTypeStrike / BasisPremium (est)
Sell 1Put$26.72N/A

AGIO 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.

AGIO cash-secured put payoff curve

Modeled P&L at expiration across a range of underlying prices for the cash-secured put on AGIO. 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 AGIO

Cash-secured puts on AGIO earn premium while a trader waits to acquire AGIO stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning AGIO.

AGIO thesis for this cash-secured put

The market-implied 1-standard-deviation range for AGIO extends from approximately $23.65 on the downside to $32.61 on the upside. A AGIO cash-secured put lets a trader earn premium while waiting to acquire AGIO 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 AGIO IV rank near 11.31% 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 AGIO at 55.50%. As a Healthcare name, AGIO options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AGIO-specific events.

AGIO 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. AGIO positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move AGIO alongside the broader basket even when AGIO-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on AGIO carry tail risk when realized volatility exceeds the implied move; review historical AGIO earnings reactions and macro stress periods before sizing. Always rebuild the position from current AGIO chain quotes before placing a trade.

Frequently asked questions

What is a cash-secured put on AGIO?
A cash-secured put on AGIO is the cash-secured put strategy applied to AGIO (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 AGIO stock trading near $28.13, the strikes shown on this page are snapped to the nearest listed AGIO chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are AGIO 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 AGIO cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 55.50%), 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 AGIO cash-secured put?
The breakeven for the AGIO 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 AGIO market-implied 1-standard-deviation expected move is approximately 15.91%; 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 AGIO?
Cash-secured puts on AGIO earn premium while a trader waits to acquire AGIO stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning AGIO.
How does current AGIO implied volatility affect this cash-secured put?
AGIO ATM IV is at 55.50% with IV rank near 11.31%, 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.

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