CCOI Cash-Secured Put Strategy
CCOI (Cogent Communications Holdings, Inc.), in the Communication Services sector, (Telecommunications Services industry), listed on NASDAQ.
Cogent Communications Holdings, Inc., founded in 1999 and based in Washington, D.C., functions as a multinational provider of high-speed internet connectivity, private networking solutions, and data center co-location services. Its extensive reach covers clients across North America, Europe, Asia, South America, Australia, and Africa. The company delivers its core services, including rapid internet access and secure private networks, in two primary ways: directly to customers located within buildings physically connected to its network (referred to as on-net services), and to those outside this direct infrastructure (off-net services). For corporate customers requiring off-net connections, Cogent frequently utilizes other carriers' circuits to complete the final segment of the network link to the customer's premises. Cogent serves a broad spectrum of organizations, from professional services firms like legal practices, financial institutions, advertising and marketing agencies, healthcare providers, and educational institutions, to other key players in the communications sector. This includes other internet service providers, telephone and cable television companies, web hosting providers, media and mobile phone operators, content delivery networks, and commercial content/application developers.
CCOI (Cogent Communications Holdings, Inc.) trades in the Communication Services sector, specifically Telecommunications Services, with a market capitalization of approximately $513.3M, a beta of 0.79 versus the broader market, a 52-week range of 9-45.69, average daily share volume of 1.3M, a public-listing history dating back to 2002, approximately 2K full-time employees. These structural characteristics shape how CCOI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.79 places CCOI roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. CCOI 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 CCOI?
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.
CCOI snapshot
As of August 14, 2026, spot at $11.45, ATM IV 84.60%, IV rank 27.70%, expected move 24.25%. The cash-secured put on CCOI 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 CCOI specifically: CCOI IV at 84.60% is on the cheap side of its 1-year range, which means a premium-selling CCOI cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 24.25% (roughly $2.78 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 CCOI expiries trade a higher absolute premium for lower per-day decay. Position sizing on CCOI should anchor to the underlying notional of $11.45 per share and to the trader's directional view on CCOI stock.
CCOI cash-secured put setup
The CCOI 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 CCOI at $11.45 on that close, the first option leg uses a $10.88 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CCOI 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 CCOI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $10.88 | N/A |
CCOI 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.
CCOI cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on CCOI. 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 CCOI
Cash-secured puts on CCOI earn premium while a trader waits to acquire CCOI stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning CCOI.
CCOI thesis for this cash-secured put
The market-implied 1-standard-deviation range for CCOI extends from approximately $8.67 on the downside to $14.23 on the upside. A CCOI cash-secured put lets a trader earn premium while waiting to acquire CCOI 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 CCOI IV rank near 27.70% 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 CCOI at 84.60%. As a Communication Services name, CCOI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CCOI-specific events.
CCOI 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. CCOI positions also carry Communication Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CCOI alongside the broader basket even when CCOI-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on CCOI carry tail risk when realized volatility exceeds the implied move; review historical CCOI earnings reactions and macro stress periods before sizing. Always rebuild the position from current CCOI chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on CCOI?
- A cash-secured put on CCOI is the cash-secured put strategy applied to CCOI (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 CCOI stock at $11.45 on the most recent close, the strikes shown on this page are snapped to the nearest listed CCOI chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are CCOI 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 CCOI cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 84.60%), 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 CCOI cash-secured put?
- The breakeven for the CCOI 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 CCOI market-implied 1-standard-deviation expected move in the same options snapshot is approximately 24.25%; 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 CCOI?
- Cash-secured puts on CCOI earn premium while a trader waits to acquire CCOI stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning CCOI.
- How does current CCOI implied volatility affect this cash-secured put?
- CCOI ATM IV is at 84.60% with IV rank near 27.70%, 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.