CATX Cash-Secured Put Strategy

CATX (Perspective Therapeutics, Inc.), in the Healthcare sector, (Medical - Devices industry), listed on AMEX.

Perspective Therapeutics, Inc., together with its subsidiaries, develops, manufactures, sells, and markets isotope-based medical products and devices for the treatment of cancer and other malignant diseases in the United States and internationally. The company offers CS-1 Cesium-131 brachytherapy seeds for the treatment of prostate, brain, lung, head and neck, gynecological, pelvic/abdominal, and colorectal cancers. It sells its products to facilities or physician practices that utilize various surgical facilities. The company was formerly known as Isoray, Inc. and changed its name to Perspective Therapeutics, Inc. in February 2022. Perspective Therapeutics, Inc. was founded in 1998 and is based in Richland, Washington.

CATX (Perspective Therapeutics, Inc.) trades in the Healthcare sector, specifically Medical - Devices, with a market capitalization of approximately $295.1M, a beta of 1.76 versus the broader market, a 52-week range of 1.96-6.16, average daily share volume of 1.6M, a public-listing history dating back to 2005, approximately 138 full-time employees. These structural characteristics shape how CATX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.76 indicates CATX has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.

What is a cash-secured put on CATX?

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 CATX snapshot

As of May 15, 2026, spot at $3.83, ATM IV 249.70%, IV rank 57.68%, expected move 71.59%. The cash-secured put on CATX 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 CATX specifically: CATX IV at 249.70% is mid-range versus its 1-year history, so the credit collected on a CATX cash-secured put sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 71.59% (roughly $2.74 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 CATX expiries trade a higher absolute premium for lower per-day decay. Position sizing on CATX should anchor to the underlying notional of $3.83 per share and to the trader's directional view on CATX stock.

CATX cash-secured put setup

The CATX 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 CATX near $3.83, the first option leg uses a $3.64 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CATX 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 CATX shares for the stock leg in covered calls and collars).

ActionTypeStrike / BasisPremium (est)
Sell 1Put$3.64N/A

CATX 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.

CATX cash-secured put payoff curve

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

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

CATX thesis for this cash-secured put

The market-implied 1-standard-deviation range for CATX extends from approximately $1.09 on the downside to $6.57 on the upside. A CATX cash-secured put lets a trader earn premium while waiting to acquire CATX 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 CATX IV rank near 57.68% is mid-range against its 1-year distribution, so the IV signal is neutral; the cash-secured put thesis on CATX should anchor more to the directional view and the expected-move geometry. As a Healthcare name, CATX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CATX-specific events.

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

Frequently asked questions

What is a cash-secured put on CATX?
A cash-secured put on CATX is the cash-secured put strategy applied to CATX (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 CATX stock trading near $3.83, the strikes shown on this page are snapped to the nearest listed CATX chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are CATX 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 CATX cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 249.70%), 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 CATX cash-secured put?
The breakeven for the CATX 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 CATX market-implied 1-standard-deviation expected move is approximately 71.59%; 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 CATX?
Cash-secured puts on CATX earn premium while a trader waits to acquire CATX stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning CATX.
How does current CATX implied volatility affect this cash-secured put?
CATX ATM IV is at 249.70% with IV rank near 57.68%, 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 CATX analysis