CLAR Cash-Secured Put Strategy

CLAR (Clarus Corporation), in the Consumer Cyclical sector, (Leisure industry), listed on NASDAQ.

Clarus Corporation develops, manufactures, and distributes outdoor equipment and lifestyle products focusing on the outdoor and consumer markets in the United States, Canada, Europe, the Middle East, Asia, Australia, New Zealand, Africa, and South America. Its Outdoor segment offers activity-based apparel, such as shells, insulation, midlayers, pants, and logowear; rock-climbing footwear and equipment, including carabiners, protection devices, harnesses, belay devices, helmets, and ice-climbing gears; technical backpacks and day packs; trekking poles; headlamps and lanterns; gloves and mittens; skincare and other products; and skis, ski poles, ski skins, and snow safety products, such as avalanche airbag systems, avalanche transceivers, shovels, and probes. This segment offers its products for climbing, mountaineering, trail running, backpacking, skiing, and other outdoor recreation activities under the Black Diamond Equipment, PIEPS, and SKINourishment brands. The company's Precision Sport segment manufactures bullets and ammunition products for precision target shooting, hunting, and military and law enforcement purposes under the Sierra and Barnes brands. The company sells its products to mountain, rock, ice, and gym climbers; and winter outdoor enthusiasts, trail runners, backpackers, competitive shooters, hunters, and outdoor consumers. Its Adventure segment offers engineered automotive roof racks, trays, mounting systems, luggage boxes, carriers, and accessories under the Rhino-Rack brand; and overlanding and off-road vehicle recovery and extraction tracks for the overland and the off-road market under the MAXTRAX brand.

CLAR (Clarus Corporation) trades in the Consumer Cyclical sector, specifically Leisure, with a market capitalization of approximately $97.3M, a beta of 1.03 versus the broader market, a 52-week range of 2.525-4.03, average daily share volume of 242K, a public-listing history dating back to 1998, approximately 470 full-time employees. These structural characteristics shape how CLAR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.03 places CLAR roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. CLAR 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 CLAR?

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 CLAR snapshot

As of May 15, 2026, spot at $2.74, ATM IV 174.20%, IV rank 38.46%, expected move 49.94%. The cash-secured put on CLAR 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 CLAR specifically: CLAR IV at 174.20% is mid-range versus its 1-year history, so the credit collected on a CLAR cash-secured put sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 49.94% (roughly $1.37 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 CLAR expiries trade a higher absolute premium for lower per-day decay. Position sizing on CLAR should anchor to the underlying notional of $2.74 per share and to the trader's directional view on CLAR stock.

CLAR cash-secured put setup

The CLAR 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 CLAR near $2.74, the first option leg uses a $2.60 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CLAR 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 CLAR shares for the stock leg in covered calls and collars).

ActionTypeStrike / BasisPremium (est)
Sell 1Put$2.60N/A

CLAR 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.

CLAR cash-secured put payoff curve

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

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

CLAR thesis for this cash-secured put

The market-implied 1-standard-deviation range for CLAR extends from approximately $1.37 on the downside to $4.11 on the upside. A CLAR cash-secured put lets a trader earn premium while waiting to acquire CLAR 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 CLAR IV rank near 38.46% is mid-range against its 1-year distribution, so the IV signal is neutral; the cash-secured put thesis on CLAR should anchor more to the directional view and the expected-move geometry. As a Consumer Cyclical name, CLAR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CLAR-specific events.

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

Frequently asked questions

What is a cash-secured put on CLAR?
A cash-secured put on CLAR is the cash-secured put strategy applied to CLAR (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 CLAR stock trading near $2.74, the strikes shown on this page are snapped to the nearest listed CLAR chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are CLAR 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 CLAR cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 174.20%), 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 CLAR cash-secured put?
The breakeven for the CLAR 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 CLAR market-implied 1-standard-deviation expected move is approximately 49.94%; 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 CLAR?
Cash-secured puts on CLAR earn premium while a trader waits to acquire CLAR stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning CLAR.
How does current CLAR implied volatility affect this cash-secured put?
CLAR ATM IV is at 174.20% with IV rank near 38.46%, 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.

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