AUDC Cash-Secured Put Strategy

AUDC (AudioCodes Ltd.), in the Technology sector, (Communication Equipment industry), listed on NASDAQ.

Founded in 1992 and headquartered in Lod, Israel, AudioCodes Ltd. is a prominent provider of sophisticated communication solutions for the contemporary digital workplace. The company offers a comprehensive portfolio encompassing software, hardware, and productivity tools, specifically designed for unified communications (UC), contact centers, its VoiceAI business segment, and service provider clientele. Its extensive product range includes core networking equipment such as session border controllers (SBCs), media gateways, VoIP network routing systems, multi-service business routers, and IP phones. Beyond physical devices, AudioCodes provides advanced management platforms like the One Voice Operations Center for voice network oversight, Device Manager for the administration of business phones and meeting room solutions, and AudioCodes Routing Manager for optimizing call routing in VoIP networks. For users of Microsoft's ecosystem, the company offers User Management Pack 365, which streamlines user lifecycle and identity management for Microsoft Teams and Skype for Business environments, alongside managed services such as AudioCodes Live for Microsoft Teams, and dedicated appliances (including survivable branch appliances, CCE, and CloudBond 365) to support these platforms. Furthermore, AudioCodes develops a variety of value-added voice applications, including SmartTAP, Voca, VoiceAI Connect, and Meeting Insights.

AUDC (AudioCodes Ltd.) trades in the Technology sector, specifically Communication Equipment, with a market capitalization of approximately $257.3M, a trailing P/E of 36.05, a beta of 0.97 versus the broader market, a 52-week range of 6.95-10.86, average daily share volume of 112K, a public-listing history dating back to 1999, approximately 981 full-time employees. These structural characteristics shape how AUDC stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.97 places AUDC roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 36.05 is on the rich side, which tends to correlate with higher earnings-window IV expansion as the market debates whether forward growth supports the multiple. AUDC pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a cash-secured put on AUDC?

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.

AUDC snapshot

As of August 14, 2026, spot at $10.44, ATM IV 47.80%, IV rank 6.80%, expected move 13.70%. The cash-secured put on AUDC 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 cash-secured put structure on AUDC specifically: AUDC IV at 47.80% is on the cheap side of its 1-year range, which means a premium-selling AUDC cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 13.70% (roughly $1.43 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 AUDC expiries trade a higher absolute premium for lower per-day decay. Position sizing on AUDC should anchor to the underlying notional of $10.44 per share and to the trader's directional view on AUDC stock.

AUDC cash-secured put setup

The AUDC 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 AUDC at $10.44 on that close, the first option leg uses a $9.92 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AUDC 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 AUDC shares for the stock leg in covered calls and collars).

ActionTypeStrike / BasisPremium (est)
Sell 1Put$9.92N/A

AUDC 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.

AUDC cash-secured put payoff curve

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

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

AUDC thesis for this cash-secured put

The market-implied 1-standard-deviation range for AUDC extends from approximately $9.01 on the downside to $11.87 on the upside. A AUDC cash-secured put lets a trader earn premium while waiting to acquire AUDC 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 AUDC IV rank near 6.80% 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 AUDC at 47.80%. As a Technology name, AUDC options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AUDC-specific events.

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

Frequently asked questions

What is a cash-secured put on AUDC?
A cash-secured put on AUDC is the cash-secured put strategy applied to AUDC (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 AUDC stock at $10.44 on the most recent close, the strikes shown on this page are snapped to the nearest listed AUDC chain strike and the premiums come straight from that session's bid/ask midpoint.
How are AUDC 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 AUDC cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 47.80%), 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 AUDC cash-secured put?
The breakeven for the AUDC cash-secured put 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 AUDC market-implied 1-standard-deviation expected move in the same options snapshot is approximately 13.70%; 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 AUDC?
Cash-secured puts on AUDC earn premium while a trader waits to acquire AUDC stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning AUDC.
How does current AUDC implied volatility affect this cash-secured put?
AUDC ATM IV is at 47.80% with IV rank near 6.80%, 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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