CIGI Cash-Secured Put Strategy
CIGI (Colliers International Group Inc.), in the Real Estate sector, (Real Estate - Services industry), listed on NASDAQ.
Colliers International Group Inc., headquartered in Toronto, Canada, and established in 1972, offers a comprehensive suite of professional commercial real estate services and investment management solutions. The company serves a diverse clientele of corporate and institutional clients across broad geographies, including the Americas, Europe, the Middle East, Africa, and the Asia Pacific regions. Within their professional services, Colliers provides sales brokerage, which includes real estate transactions, debt origination, equity capital raising, market value opinions, acquisition advisory, and transaction management. Additionally, they offer landlord and tenant representation. Alongside these, the company delivers outsourcing and advisory services such as corporate and workplace solutions, valuation and strategic advisory, workplace strategy, loan servicing, property marketing, in-depth research, and engineering design services for specific end-markets including property and building, infrastructure, transportation, environmental, and telecommunications. Furthermore, their property management solutions encompass building operations and maintenance, facilities management, lease administration, property accounting and financial reporting, contract management, and construction management.
CIGI (Colliers International Group Inc.) trades in the Real Estate sector, specifically Real Estate - Services, with a market capitalization of approximately $4.62B, a trailing P/E of 40.06, a beta of 1.26 versus the broader market, a 52-week range of 88.38-171.51, average daily share volume of 257K, a public-listing history dating back to 1995, approximately 23K full-time employees. These structural characteristics shape how CIGI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.26 places CIGI roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 40.06 is on the rich side, which tends to correlate with higher earnings-window IV expansion as the market debates whether forward growth supports the multiple. CIGI 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 CIGI?
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 CIGI snapshot
As of June 30, 2026, spot at $93.89, ATM IV 342.10%, IV rank 73.67%, expected move 98.08%. The cash-secured put on CIGI 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 52-day expiry.
Why this cash-secured put structure on CIGI specifically: CIGI IV at 342.10% is rich versus its 1-year range, which favors premium-selling structures like a CIGI cash-secured put, with a market-implied 1-standard-deviation move of approximately 98.08% (roughly $92.08 on the underlying). The 52-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated CIGI expiries trade a higher absolute premium for lower per-day decay. Position sizing on CIGI should anchor to the underlying notional of $93.89 per share and to the trader's directional view on CIGI stock.
CIGI cash-secured put setup
The CIGI 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 CIGI near $93.89, the first option leg uses a $90.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CIGI chain at a 52-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 CIGI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $90.00 | $3.93 |
CIGI cash-secured put risk and reward
- Net Premium / Debit
- +$392.50
- Max Profit (per contract)
- $392.50
- Max Loss (per contract)
- -$8,606.50
- Breakeven(s)
- $86.08
- Risk / Reward Ratio
- 0.046
Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.
CIGI cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on CIGI. 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.
| Underlying Price | % From Spot | P&L at Expiration |
|---|---|---|
| $0.01 | -100.0% | -$8,606.50 |
| $20.77 | -77.9% | -$6,530.65 |
| $41.53 | -55.8% | -$4,454.80 |
| $62.29 | -33.7% | -$2,378.95 |
| $83.04 | -11.6% | -$303.10 |
| $103.80 | +10.6% | +$392.50 |
| $124.56 | +32.7% | +$392.50 |
| $145.32 | +54.8% | +$392.50 |
| $166.08 | +76.9% | +$392.50 |
| $186.84 | +99.0% | +$392.50 |
When traders use cash-secured put on CIGI
Cash-secured puts on CIGI earn premium while a trader waits to acquire CIGI stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning CIGI.
CIGI thesis for this cash-secured put
The market-implied 1-standard-deviation range for CIGI extends from approximately $1.81 on the downside to $185.97 on the upside. A CIGI cash-secured put lets a trader earn premium while waiting to acquire CIGI 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 CIGI IV rank near 73.67% sits in the upper third of its 1-year distribution, which historically reverts; this raises the bar for premium-buying structures and lowers it for premium-selling structures on CIGI at 342.10%. As a Real Estate name, CIGI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CIGI-specific events.
CIGI 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. CIGI positions also carry Real Estate sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CIGI alongside the broader basket even when CIGI-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on CIGI carry tail risk when realized volatility exceeds the implied move; review historical CIGI earnings reactions and macro stress periods before sizing. Always rebuild the position from current CIGI chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on CIGI?
- A cash-secured put on CIGI is the cash-secured put strategy applied to CIGI (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 CIGI stock trading near $93.89, the strikes shown on this page are snapped to the nearest listed CIGI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are CIGI 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 CIGI cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 342.10%), the computed maximum profit is $392.50 per contract and the computed maximum loss is -$8,606.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a CIGI cash-secured put?
- The breakeven for the CIGI cash-secured put priced on this page is roughly $86.08 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 CIGI market-implied 1-standard-deviation expected move is approximately 98.08%; 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 CIGI?
- Cash-secured puts on CIGI earn premium while a trader waits to acquire CIGI stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning CIGI.
- How does current CIGI implied volatility affect this cash-secured put?
- CIGI ATM IV is at 342.10% with IV rank near 73.67%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.