CLSK Cash-Secured Put Strategy
CLSK (CleanSpark, Inc.), in the Financial Services sector, (Asset Management - Cryptocurrency industry), listed on NASDAQ.
CleanSpark, Inc. is a global enterprise specializing in cryptocurrency mining and advanced energy technologies. The company's operations are divided into two primary divisions: Digital Currency Mining and Energy Solutions. Its Digital Currency Mining segment is dedicated to the extraction of bitcoin. The Energy Solutions division offers a comprehensive suite of services, including engineering expertise, software development, bespoke hardware, and solutions for open automated demand response, solar power, and energy storage. These offerings cater to microgrids and decentralized energy systems, serving a diverse client base across military, commercial, and residential sectors. This segment also develops sophisticated platforms that facilitate the creation, deployment, operation, and management of various energy assets.
CLSK (CleanSpark, Inc.) trades in the Financial Services sector, specifically Asset Management - Cryptocurrency, with a market capitalization of approximately $3.13B, a beta of 3.89 versus the broader market, a 52-week range of 8-23.61, average daily share volume of 22.3M, a public-listing history dating back to 2016, approximately 312 full-time employees. These structural characteristics shape how CLSK stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 3.89 indicates CLSK has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. CLSK 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 CLSK?
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.
CLSK snapshot
As of August 14, 2026, spot at $12.07, ATM IV 80.07%, IV rank 23.24%, expected move 22.95%. The cash-secured put on CLSK below is built from the August 14, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 28-day expiry.
Why this cash-secured put structure on CLSK specifically: CLSK IV at 80.07% is on the cheap side of its 1-year range, which means a premium-selling CLSK cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 22.95% (roughly $2.77 on the underlying). The 28-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated CLSK expiries trade a higher absolute premium for lower per-day decay. Position sizing on CLSK should anchor to the underlying notional of $12.07 per share and to the trader's directional view on CLSK stock.
CLSK cash-secured put setup
The CLSK cash-secured put below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With CLSK at $12.07 on that close, the first option leg uses a $11.50 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CLSK chain at a 28-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 CLSK shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $11.50 | $0.75 |
CLSK cash-secured put risk and reward
- Net Premium / Debit
- +$75.00
- Max Profit (per contract)
- $75.00
- Max Loss (per contract)
- -$1,074.00
- Breakeven(s)
- $10.75
- Risk / Reward Ratio
- 0.070
Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.
CLSK cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on CLSK. 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 | -99.9% | -$1,074.00 |
| $2.68 | -77.8% | -$807.24 |
| $5.35 | -55.7% | -$540.47 |
| $8.01 | -33.6% | -$273.71 |
| $10.68 | -11.5% | -$6.94 |
| $13.35 | +10.6% | +$75.00 |
| $16.02 | +32.7% | +$75.00 |
| $18.68 | +54.8% | +$75.00 |
| $21.35 | +76.9% | +$75.00 |
| $24.02 | +99.0% | +$75.00 |
When traders use cash-secured put on CLSK
Cash-secured puts on CLSK earn premium while a trader waits to acquire CLSK stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning CLSK.
CLSK thesis for this cash-secured put
The market-implied 1-standard-deviation range for CLSK extends from approximately $9.30 on the downside to $14.84 on the upside. A CLSK cash-secured put lets a trader earn premium while waiting to acquire CLSK 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 CLSK IV rank near 23.24% 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 CLSK at 80.07%. As a Financial Services name, CLSK options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CLSK-specific events.
CLSK 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. CLSK positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CLSK alongside the broader basket even when CLSK-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on CLSK carry tail risk when realized volatility exceeds the implied move; review historical CLSK earnings reactions and macro stress periods before sizing. Always rebuild the position from current CLSK chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on CLSK?
- A cash-secured put on CLSK is the cash-secured put strategy applied to CLSK (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 CLSK stock at $12.07 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed CLSK chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are CLSK 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 CLSK cash-secured put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 80.07%), the computed maximum profit is $75.00 per contract and the computed maximum loss is -$1,074.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a CLSK cash-secured put?
- The breakeven for the CLSK cash-secured put priced on this page is roughly $10.75 at expiration, derived from the August 14, 2026 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 CLSK market-implied 1-standard-deviation expected move in the same options snapshot is approximately 22.95%; 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 CLSK?
- Cash-secured puts on CLSK earn premium while a trader waits to acquire CLSK stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning CLSK.
- How does current CLSK implied volatility affect this cash-secured put?
- CLSK ATM IV is at 80.07% with IV rank near 23.24%, 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.