CLIR Cash-Secured Put Strategy

CLIR (ClearSign Technologies Corporation), in the Industrials sector, (Industrial - Pollution & Treatment Controls industry), listed on NASDAQ.

ClearSign Technologies Corporation designs and develops products and technologies to enhance operational performance, energy efficiency, emission reduction, safety, and overall cost-effectiveness of industrial and commercial systems in the United States and the People's Republic of China. Its ClearSign Core Burner Technology consists of an industrial burner body and a downstream porous ceramic structure or metal flame stabilizing device; ClearSign Core Plug & Play technology provides direct burner replacement for traditional refinery process heaters; and ClearSign Eye Flame Sensor, an electrical flame sensor for industrial applications. The company also provides ClearSign Core Boiler Burner; and ClearSign Core Flaring Burners technologies. It serves energy, institutional, commercial and industrial boiler, chemical, and petrochemical industries. The company was formerly known as ClearSign Combustion Corporation and changed its name ClearSign Technologies Corporation in November 2019. ClearSign Technologies Corporation was incorporated in 2008 and is headquartered in Tulsa, Oklahoma.

CLIR (ClearSign Technologies Corporation) trades in the Industrials sector, specifically Industrial - Pollution & Treatment Controls, with a market capitalization of approximately $24.1M, a beta of 1.37 versus the broader market, a 52-week range of 3.24-11.2, average daily share volume of 33K, a public-listing history dating back to 2012, approximately 18 full-time employees. These structural characteristics shape how CLIR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.37 indicates CLIR 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 CLIR?

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 CLIR snapshot

As of May 15, 2026, spot at $4.89, ATM IV 53.40%, IV rank 7.00%, expected move 15.31%. The cash-secured put on CLIR 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 98-day expiry.

Why this cash-secured put structure on CLIR specifically: CLIR IV at 53.40% is on the cheap side of its 1-year range, which means a premium-selling CLIR cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 15.31% (roughly $0.75 on the underlying). The 98-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated CLIR expiries trade a higher absolute premium for lower per-day decay. Position sizing on CLIR should anchor to the underlying notional of $4.89 per share and to the trader's directional view on CLIR stock.

CLIR cash-secured put setup

The CLIR 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 CLIR near $4.89, the first option leg uses a $4.65 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CLIR chain at a 98-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 CLIR shares for the stock leg in covered calls and collars).

ActionTypeStrike / BasisPremium (est)
Sell 1Put$4.65N/A

CLIR 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.

CLIR cash-secured put payoff curve

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

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

CLIR thesis for this cash-secured put

The market-implied 1-standard-deviation range for CLIR extends from approximately $4.14 on the downside to $5.64 on the upside. A CLIR cash-secured put lets a trader earn premium while waiting to acquire CLIR 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 CLIR IV rank near 7.00% 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 CLIR at 53.40%. As a Industrials name, CLIR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CLIR-specific events.

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

Frequently asked questions

What is a cash-secured put on CLIR?
A cash-secured put on CLIR is the cash-secured put strategy applied to CLIR (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 CLIR stock trading near $4.89, the strikes shown on this page are snapped to the nearest listed CLIR chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are CLIR 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 CLIR cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 53.40%), 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 CLIR cash-secured put?
The breakeven for the CLIR 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 CLIR market-implied 1-standard-deviation expected move is approximately 15.31%; 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 CLIR?
Cash-secured puts on CLIR earn premium while a trader waits to acquire CLIR stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning CLIR.
How does current CLIR implied volatility affect this cash-secured put?
CLIR ATM IV is at 53.40% with IV rank near 7.00%, 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.

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