ATRC Cash-Secured Put Strategy

ATRC (AtriCure, Inc.), in the Healthcare sector, (Medical - Instruments & Supplies industry), listed on NASDAQ.

AtriCure, Inc. develops, manufactures, and sells devices for the surgical ablation of cardiac tissue and systems, and intercostal nerves to medical centers in the United States, Europe, Asia, and internationally. The company offers Isolator Synergy Clamps, a single-use disposable radio frequency products; multifunctional pens and linear ablation devices, such as the MAX Pen device that enables surgeons to evaluate cardiac arrhythmias, perform temporary cardiac pacing, sensing, and stimulation and ablate cardiac tissue with the same device; and the Coolrail device, which enable users to make longer linear lines of ablation. It also provides cryoICE Cryoablation System that enables the user to make linear ablations of varied lengths; EPi-Sense Guided Coagulation System, a single-use disposable device used for the treatment of symptomatic, drug-refractory, and long-standing persistent atrial fibrillation; AtriClip System, an implantable device coupled to a single-use disposable applier; and LARIAT System, a suture-based solution for soft-tissue closure compatible with a range of anatomical shapes. In addition, the company sells Lumitip Dissectors to separate tissues to provide access to key anatomical structures that are targeted for ablation; Glidepath guides for placement of clamps; Subtle Cannula's to support access for EPi-Sense catheters; and various reusable cardiac surgery instruments, which are used during surgical procedures for repair or replacement of certain heart valves. It markets and sells its products through independent distributors and direct sales personnel. The company was incorporated in 2000 and is headquartered in Mason, Ohio.

ATRC (AtriCure, Inc.) trades in the Healthcare sector, specifically Medical - Instruments & Supplies, with a market capitalization of approximately $1.35B, a beta of 1.28 versus the broader market, a 52-week range of 25.52-43.18, average daily share volume of 744K, a public-listing history dating back to 2005, approximately 1K full-time employees. These structural characteristics shape how ATRC stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.28 places ATRC 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 ATRC?

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 ATRC snapshot

As of May 15, 2026, spot at $28.26, ATM IV 84.00%, IV rank 11.08%, expected move 24.08%. The cash-secured put on ATRC 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 ATRC specifically: ATRC IV at 84.00% is on the cheap side of its 1-year range, which means a premium-selling ATRC cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 24.08% (roughly $6.81 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 ATRC expiries trade a higher absolute premium for lower per-day decay. Position sizing on ATRC should anchor to the underlying notional of $28.26 per share and to the trader's directional view on ATRC stock.

ATRC cash-secured put setup

The ATRC 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 ATRC near $28.26, the first option leg uses a $26.85 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ATRC 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 ATRC shares for the stock leg in covered calls and collars).

ActionTypeStrike / BasisPremium (est)
Sell 1Put$26.85N/A

ATRC 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.

ATRC cash-secured put payoff curve

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

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

ATRC thesis for this cash-secured put

The market-implied 1-standard-deviation range for ATRC extends from approximately $21.45 on the downside to $35.07 on the upside. A ATRC cash-secured put lets a trader earn premium while waiting to acquire ATRC 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 ATRC IV rank near 11.08% 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 ATRC at 84.00%. As a Healthcare name, ATRC options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ATRC-specific events.

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

Frequently asked questions

What is a cash-secured put on ATRC?
A cash-secured put on ATRC is the cash-secured put strategy applied to ATRC (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 ATRC stock trading near $28.26, the strikes shown on this page are snapped to the nearest listed ATRC chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are ATRC 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 ATRC cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 84.00%), 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 ATRC cash-secured put?
The breakeven for the ATRC 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 ATRC market-implied 1-standard-deviation expected move is approximately 24.08%; 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 ATRC?
Cash-secured puts on ATRC earn premium while a trader waits to acquire ATRC stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning ATRC.
How does current ATRC implied volatility affect this cash-secured put?
ATRC ATM IV is at 84.00% with IV rank near 11.08%, 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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