ASUR Strangle Strategy
ASUR (Asure Software, Inc.), in the Technology sector, (Software - Application industry), listed on NASDAQ.
Operating within the United States, Asure Software, Inc. delivers cloud-hosted human capital management (HCM) solutions tailored for small and mid-sized businesses. The company assists these enterprises in cultivating effective teams, ensuring regulatory adherence, and strategically allocating resources to drive their growth. Among its primary offerings is Asure Payroll & Tax, an integrated cloud-based system that automates the complex regulations surrounding payroll and taxation. This includes managing compensation, employee benefits, overtime, garnishments, tips, direct deposits, compliance with the Fair Labor Standards Act (FLSA), and all federal, state, and local payroll taxes. Another key product, Asure HR, is a cloud-native platform designed to simplify human resources complexities, featuring employee self-service capabilities for convenient access to personal information, pay stubs, and company documents. Additionally, Asure Time & Attendance provides substantial cost savings and enhanced return on investment through the judicious management of labor expenditures and the elimination of time theft.
ASUR (Asure Software, Inc.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $241.4M, a beta of 0.50 versus the broader market, a 52-week range of 6.8-10.2, average daily share volume of 99K, a public-listing history dating back to 1992, approximately 634 full-time employees. These structural characteristics shape how ASUR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.50 indicates ASUR 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 strangle on ASUR?
A long strangle buys an OTM call and an OTM put at offset strikes, cheaper than a straddle but requiring a larger underlying move to profit since both wings start out-of-the-money.
ASUR snapshot
As of August 14, 2026, spot at $8.47, ATM IV 41.40%, IV rank 6.91%, expected move 11.87%. The strangle on ASUR 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 strangle structure on ASUR specifically: ASUR IV at 41.40% is on the cheap side of its 1-year range, which favors premium-buying structures like a ASUR strangle, with a market-implied 1-standard-deviation move of approximately 11.87% (roughly $1.01 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 ASUR expiries trade a higher absolute premium for lower per-day decay. Position sizing on ASUR should anchor to the underlying notional of $8.47 per share and to the trader's directional view on ASUR stock.
ASUR strangle setup
The ASUR strangle below is built from the end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With ASUR at $8.47 on that close, the first option leg uses a $8.89 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ASUR 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 ASUR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $8.89 | N/A |
| Buy 1 | Put | $8.05 | N/A |
ASUR strangle 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
Upside max profit is unbounded; downside max profit is bounded at the put strike minus the combined debit (reached at zero). Max loss equals the combined debit times 100 (reached anywhere between the two OTM strikes). Two breakevens at call-strike plus debit and put-strike minus debit.
ASUR strangle payoff curve
Modeled P&L at expiration across a range of underlying prices for the strangle on ASUR. 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 strangle on ASUR
Strangles on ASUR are the cheaper cousin of the straddle - traders use them when they want a large directional move but are willing to give up the inner-strike sensitivity in exchange for a lower up-front debit on the ASUR chain.
ASUR thesis for this strangle
The market-implied 1-standard-deviation range for ASUR extends from approximately $7.46 on the downside to $9.48 on the upside. A ASUR long strangle is the OTM cousin of the straddle: lower up-front cost but the underlying has to travel further past either OTM strike before the position turns profitable at expiration. Current ASUR IV rank near 6.91% 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 ASUR at 41.40%. As a Technology name, ASUR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ASUR-specific events.
ASUR strangle positions are structurally neutral / high-volatility (long premium, OTM); 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. ASUR positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ASUR alongside the broader basket even when ASUR-specific fundamentals are unchanged. Always rebuild the position from current ASUR chain quotes before placing a trade.
Frequently asked questions
- What is a strangle on ASUR?
- A strangle on ASUR is the strangle strategy applied to ASUR (stock). The strategy is structurally neutral / high-volatility (long premium, OTM): A long strangle buys an OTM call and an OTM put at offset strikes, cheaper than a straddle but requiring a larger underlying move to profit since both wings start out-of-the-money. With ASUR stock at $8.47 on the most recent close, the strikes shown on this page are snapped to the nearest listed ASUR chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are ASUR strangle max profit and max loss calculated?
- Upside max profit is unbounded; downside max profit is bounded at the put strike minus the combined debit (reached at zero). Max loss equals the combined debit times 100 (reached anywhere between the two OTM strikes). Two breakevens at call-strike plus debit and put-strike minus debit. For the ASUR strangle priced from the end-of-day chain at a 30-day expiry (ATM IV 41.40%), 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 ASUR strangle?
- The breakeven for the ASUR strangle 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 ASUR market-implied 1-standard-deviation expected move in the same options snapshot is approximately 11.87%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a strangle on ASUR?
- Strangles on ASUR are the cheaper cousin of the straddle - traders use them when they want a large directional move but are willing to give up the inner-strike sensitivity in exchange for a lower up-front debit on the ASUR chain.
- How does current ASUR implied volatility affect this strangle?
- ASUR ATM IV is at 41.40% with IV rank near 6.91%, 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.