AMPY Cash-Secured Put Strategy
AMPY (Amplify Energy Corp.), in the Energy sector, (Oil & Gas Exploration & Production industry), listed on NYSE.
Amplify Energy Corp. is a U.S.-based enterprise focused on the upstream oil and natural gas sector, encompassing the acquisition, development, and production of hydrocarbon assets. Its extensive portfolio includes operated and non-operated working interests in both producing and undeveloped leasehold acreage, as well as stakes in identified producing wells. These assets are geographically dispersed throughout key American regions such as Oklahoma, the Rocky Mountains, federal offshore Southern California, East Texas/North Louisiana, and the Eagle Ford shale play. As of December 31, 2021, the company reported approximately 121.2 million barrels of oil equivalent (BOE) in estimated proved reserves and managed 2,417 gross producing wells. Amplify Energy's corporate headquarters are situated in Houston, Texas.
AMPY (Amplify Energy Corp.) trades in the Energy sector, specifically Oil & Gas Exploration & Production, with a market capitalization of approximately $162.7M, a trailing P/E of 13.84, a beta of -0.22 versus the broader market, a 52-week range of 3.11-6.79, average daily share volume of 783K, a public-listing history dating back to 2012, approximately 229 full-time employees. These structural characteristics shape how AMPY stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of -0.22 indicates AMPY 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 AMPY?
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 AMPY snapshot
As of June 30, 2026, spot at $3.98, ATM IV 474.60%, IV rank 94.96%, expected move 136.06%. The cash-secured put on AMPY 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 17-day expiry.
Why this cash-secured put structure on AMPY specifically: AMPY IV at 474.60% is rich versus its 1-year range, which favors premium-selling structures like a AMPY cash-secured put, with a market-implied 1-standard-deviation move of approximately 136.06% (roughly $5.42 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated AMPY expiries trade a higher absolute premium for lower per-day decay. Position sizing on AMPY should anchor to the underlying notional of $3.98 per share and to the trader's directional view on AMPY stock.
AMPY cash-secured put setup
The AMPY 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 AMPY near $3.98, the first option leg uses a $3.78 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AMPY chain at a 17-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 AMPY shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $3.78 | N/A |
AMPY 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.
AMPY cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on AMPY. 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 AMPY
Cash-secured puts on AMPY earn premium while a trader waits to acquire AMPY stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning AMPY.
AMPY thesis for this cash-secured put
The market-implied 1-standard-deviation range for AMPY extends from approximately $-1.44 on the downside to $9.40 on the upside. A AMPY cash-secured put lets a trader earn premium while waiting to acquire AMPY 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 AMPY IV rank near 94.96% sits in the upper third of its 1-year distribution, which historically reverts; this raises the bar for premium-buying structures and lowers it for premium-selling structures on AMPY at 474.60%. As a Energy name, AMPY options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AMPY-specific events.
AMPY 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. AMPY positions also carry Energy sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move AMPY alongside the broader basket even when AMPY-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on AMPY carry tail risk when realized volatility exceeds the implied move; review historical AMPY earnings reactions and macro stress periods before sizing. Always rebuild the position from current AMPY chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on AMPY?
- A cash-secured put on AMPY is the cash-secured put strategy applied to AMPY (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 AMPY stock trading near $3.98, the strikes shown on this page are snapped to the nearest listed AMPY chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are AMPY 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 AMPY cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 474.60%), 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 AMPY cash-secured put?
- The breakeven for the AMPY 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 AMPY market-implied 1-standard-deviation expected move is approximately 136.06%; 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 AMPY?
- Cash-secured puts on AMPY earn premium while a trader waits to acquire AMPY stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning AMPY.
- How does current AMPY implied volatility affect this cash-secured put?
- AMPY ATM IV is at 474.60% with IV rank near 94.96%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.