AXGN Cash-Secured Put Strategy

AXGN (AxoGen, Inc.), in the Healthcare sector, (Medical - Devices industry), listed on NASDAQ.

AxoGen, Inc., together with its subsidiaries, develops and markets surgical solutions for physical damage or transection to peripheral nerves. The company's products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed nerves without the comorbidities associated with a second surgical site; AxoGuard Nerve Connector, a porcine submucosa extracellular matrix (ECM) coaptation aid for tensionless repair of severed peripheral nerves; and AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments. Its products also comprise Axoguard Nerve Cap, a porcine submucosa ECM product that is used to protect a peripheral nerve end, as well as separates the nerve from the surrounding environment to reduce the development of symptomatic or painful neuroma; and Avive Soft Tissue Membrane, a processed human umbilical cord membrane that can be used as a resorbable soft tissue covering to separate tissues in the surgical bed. In addition, the company offers AxoTouch two point discriminator, a tool that is used for measuring the innervation density of surface area of the skin. It provides its products to hospitals, surgery centers, and military hospitals plastic reconstructive surgeons, orthopedic and plastic hand surgeons, and various oral and maxillofacial surgeons in the United States, Canada, Germany, the United Kingdom and other European countries, South Korea, and internationally. AxoGen, Inc. is headquartered in Alachua, Florida.

AXGN (AxoGen, Inc.) trades in the Healthcare sector, specifically Medical - Devices, with a market capitalization of approximately $2.14B, a beta of 1.17 versus the broader market, a 52-week range of 9.22-45.83, average daily share volume of 1.1M, a public-listing history dating back to 1986, approximately 451 full-time employees. These structural characteristics shape how AXGN stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.17 places AXGN 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 AXGN?

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 AXGN snapshot

As of May 15, 2026, spot at $40.73, ATM IV 49.90%, IV rank 10.82%, expected move 14.31%. The cash-secured put on AXGN 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 AXGN specifically: AXGN IV at 49.90% is on the cheap side of its 1-year range, which means a premium-selling AXGN cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 14.31% (roughly $5.83 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 AXGN expiries trade a higher absolute premium for lower per-day decay. Position sizing on AXGN should anchor to the underlying notional of $40.73 per share and to the trader's directional view on AXGN stock.

AXGN cash-secured put setup

The AXGN 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 AXGN near $40.73, the first option leg uses a $38.69 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AXGN 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 AXGN shares for the stock leg in covered calls and collars).

ActionTypeStrike / BasisPremium (est)
Sell 1Put$38.69N/A

AXGN 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.

AXGN cash-secured put payoff curve

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

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

AXGN thesis for this cash-secured put

The market-implied 1-standard-deviation range for AXGN extends from approximately $34.90 on the downside to $46.56 on the upside. A AXGN cash-secured put lets a trader earn premium while waiting to acquire AXGN 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 AXGN IV rank near 10.82% 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 AXGN at 49.90%. As a Healthcare name, AXGN options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AXGN-specific events.

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

Frequently asked questions

What is a cash-secured put on AXGN?
A cash-secured put on AXGN is the cash-secured put strategy applied to AXGN (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 AXGN stock trading near $40.73, the strikes shown on this page are snapped to the nearest listed AXGN chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are AXGN 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 AXGN cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 49.90%), 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 AXGN cash-secured put?
The breakeven for the AXGN 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 AXGN market-implied 1-standard-deviation expected move is approximately 14.31%; 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 AXGN?
Cash-secured puts on AXGN earn premium while a trader waits to acquire AXGN stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning AXGN.
How does current AXGN implied volatility affect this cash-secured put?
AXGN ATM IV is at 49.90% with IV rank near 10.82%, 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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