CCCC Cash-Secured Put Strategy
CCCC (C4 Therapeutics, Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
C4 Therapeutics, Inc., a clinical-stage biopharmaceutical company, develops novel therapeutic candidates to degrade disease-causing proteins for the treatment of cancer, neurodegenerative conditions, and other diseases. Its lead product candidate is CFT7455, an orally bioavailable MonoDAC degrader of protein that is in Phase 1/2 trial targeting IKZF1 and IKZF3 for multiple myeloma and non-Hodgkin lymphomas, including peripheral T-cell lymphoma and mantle cell lymphoma. The company is also developing CFT8634, an orally bioavailable BiDAC degrader of BRD9, a protein target for synovial sarcoma and SMARCB1-deleted solid tumors; CFT1946, an orally bioavailable BiDAC degrader targeting V600X mutant BRAF to treat melanoma, non-small cell lung cancer (NSCLC), colorectal cancer, and other solid malignancies; CFT8919, an orally bioavailable, allosteric, and mutant-selective BiDAC degrader of epidermal growth factor receptor, or EGFR, with an L858R mutation in NSCLC; and earlier stage programs comprising RET degraders for the treatment of various cancers. C4 Therapeutics, Inc. has strategic collaborations with F. Hoffmann-La Roche Ltd and Hoffmann-La Roche Inc.; Biogen MA, Inc.; and Calico Life Sciences LLC. The company was incorporated in 2015 and is headquartered in Watertown, Massachusetts.
CCCC (C4 Therapeutics, Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $304.8M, a beta of 2.78 versus the broader market, a 52-week range of 1.21-3.95, average daily share volume of 2.9M, a public-listing history dating back to 2020, approximately 110 full-time employees. These structural characteristics shape how CCCC stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.78 indicates CCCC 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 CCCC?
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 CCCC snapshot
As of May 15, 2026, spot at $3.54, ATM IV 111.40%, IV rank 28.51%, expected move 31.94%. The cash-secured put on CCCC 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 CCCC specifically: CCCC IV at 111.40% is on the cheap side of its 1-year range, which means a premium-selling CCCC cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 31.94% (roughly $1.13 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 CCCC expiries trade a higher absolute premium for lower per-day decay. Position sizing on CCCC should anchor to the underlying notional of $3.54 per share and to the trader's directional view on CCCC stock.
CCCC cash-secured put setup
The CCCC 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 CCCC near $3.54, the first option leg uses a $3.36 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CCCC 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 CCCC shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $3.36 | N/A |
CCCC 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.
CCCC cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on CCCC. 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 CCCC
Cash-secured puts on CCCC earn premium while a trader waits to acquire CCCC stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning CCCC.
CCCC thesis for this cash-secured put
The market-implied 1-standard-deviation range for CCCC extends from approximately $2.41 on the downside to $4.67 on the upside. A CCCC cash-secured put lets a trader earn premium while waiting to acquire CCCC 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 CCCC IV rank near 28.51% 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 CCCC at 111.40%. As a Healthcare name, CCCC options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CCCC-specific events.
CCCC 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. CCCC positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CCCC alongside the broader basket even when CCCC-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on CCCC carry tail risk when realized volatility exceeds the implied move; review historical CCCC earnings reactions and macro stress periods before sizing. Always rebuild the position from current CCCC chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on CCCC?
- A cash-secured put on CCCC is the cash-secured put strategy applied to CCCC (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 CCCC stock trading near $3.54, the strikes shown on this page are snapped to the nearest listed CCCC chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are CCCC 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 CCCC cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 111.40%), 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 CCCC cash-secured put?
- The breakeven for the CCCC 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 CCCC market-implied 1-standard-deviation expected move is approximately 31.94%; 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 CCCC?
- Cash-secured puts on CCCC earn premium while a trader waits to acquire CCCC stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning CCCC.
- How does current CCCC implied volatility affect this cash-secured put?
- CCCC ATM IV is at 111.40% with IV rank near 28.51%, 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.