AUDC Cash-Secured Put Strategy

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

AudioCodes Ltd. provides advanced communications software, products, and productivity solutions for the digital workplace. The company offers solutions, products, and services for unified communications, contact centers, VoiceAI business line, and service provider business. Its products include session border controllers, life cycle management solutions, VoIP network routing solutions, media gateways and servers, multi-service business routers, IP phones solutions, and value-added applications, as well as professional services. The company also offers One Voice Operations Center, a voice network management solution; Device Manager for administering business phones and meeting room solutions; AudioCodes Routing Manager for handling call routing in VoIP networks; and User Management Pack 365 simplifies user lifecycle and identity management across Microsoft Teams and Skype for Business deployments. In addition, it provides AudioCodes Live for Microsoft Teams, a portfolio of managed services for simplifying Teams adoption; appliances for Microsoft Skype/Teams for Business such as survivable branch appliances, CCE, and CloudBond 365; and a range of value-added voice applications comprising SmartTAP, Voca, VoiceAI Connect, and Meeting Insights. Further, the company offers managed services; and AudioCodes Live Cloud, a Microsoft Teams software as a service solution that enables service providers to offer their business customers a seamless migration to Microsoft Teams.

AUDC (AudioCodes Ltd.) trades in the Technology sector, specifically Communication Equipment, with a market capitalization of approximately $215.1M, a trailing P/E of 32.45, a beta of 0.96 versus the broader market, a 52-week range of 6.95-11.5, average daily share volume of 125K, a public-listing history dating back to 1999, approximately 946 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 0.96 places AUDC roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. 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.

Current AUDC snapshot

As of May 15, 2026, spot at $8.23, ATM IV 127.20%, IV rank 46.30%, expected move 36.47%. The cash-secured put on AUDC 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 AUDC specifically: AUDC IV at 127.20% is mid-range versus its 1-year history, so the credit collected on a AUDC cash-secured put sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 36.47% (roughly $3.00 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 AUDC expiries trade a higher absolute premium for lower per-day decay. Position sizing on AUDC should anchor to the underlying notional of $8.23 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 near $8.23, the first option leg uses a $7.82 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 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 AUDC shares for the stock leg in covered calls and collars).

ActionTypeStrike / BasisPremium (est)
Sell 1Put$7.82N/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 $5.23 on the downside to $11.23 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 46.30% is mid-range against its 1-year distribution, so the IV signal is neutral; the cash-secured put thesis on AUDC should anchor more to the directional view and the expected-move geometry. 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 trading near $8.23, the strikes shown on this page are snapped to the nearest listed AUDC chain strike and the premiums come straight from the end-of-day 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 127.20%), 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 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 AUDC market-implied 1-standard-deviation expected move is approximately 36.47%; 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 127.20% with IV rank near 46.30%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.

Related AUDC analysis