CMRC Cash-Secured Put Strategy

CMRC (Commerce.com, Inc.), in the Technology sector, (Software - Application industry), listed on NASDAQ.

Commerce.com, Inc. operates a software-as-a-service e-commerce platform for brands and retailers in the United States, North and South America, Europe, the Middle East, Africa, and the Asia Pacific. The company provides a platform for launching and scaling an ecommerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integration into third-party services, such as payments, shipping, and accounting. It serves stores in various sizes, product categories, and purchase types comprising business-to-consumer and business-to-business. Commerce.com, Inc. was formerly known as BigCommerce Holdings, Inc. and changed its name to Commerce.com, Inc. in July 2025. The company was founded in 2009 and is headquartered in Austin, Texas.

CMRC (Commerce.com, Inc.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $228.6M, a beta of 1.14 versus the broader market, a 52-week range of 2.41-5.545, average daily share volume of 867K, a public-listing history dating back to 2020, approximately 1K full-time employees. These structural characteristics shape how CMRC stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.14 places CMRC roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.

What is a cash-secured put on CMRC?

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 CMRC snapshot

As of May 15, 2026, spot at $2.70, ATM IV 108.50%, IV rank 41.20%, expected move 31.11%. The cash-secured put on CMRC 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 CMRC specifically: CMRC IV at 108.50% is mid-range versus its 1-year history, so the credit collected on a CMRC cash-secured put sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 31.11% (roughly $0.84 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 CMRC expiries trade a higher absolute premium for lower per-day decay. Position sizing on CMRC should anchor to the underlying notional of $2.70 per share and to the trader's directional view on CMRC stock.

CMRC cash-secured put setup

The CMRC 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 CMRC near $2.70, the first option leg uses a $2.57 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CMRC 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 CMRC shares for the stock leg in covered calls and collars).

ActionTypeStrike / BasisPremium (est)
Sell 1Put$2.57N/A

CMRC 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.

CMRC cash-secured put payoff curve

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

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

CMRC thesis for this cash-secured put

The market-implied 1-standard-deviation range for CMRC extends from approximately $1.86 on the downside to $3.54 on the upside. A CMRC cash-secured put lets a trader earn premium while waiting to acquire CMRC 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 CMRC IV rank near 41.20% is mid-range against its 1-year distribution, so the IV signal is neutral; the cash-secured put thesis on CMRC should anchor more to the directional view and the expected-move geometry. As a Technology name, CMRC options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CMRC-specific events.

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

Frequently asked questions

What is a cash-secured put on CMRC?
A cash-secured put on CMRC is the cash-secured put strategy applied to CMRC (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 CMRC stock trading near $2.70, the strikes shown on this page are snapped to the nearest listed CMRC chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are CMRC 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 CMRC cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 108.50%), 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 CMRC cash-secured put?
The breakeven for the CMRC 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 CMRC market-implied 1-standard-deviation expected move is approximately 31.11%; 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 CMRC?
Cash-secured puts on CMRC earn premium while a trader waits to acquire CMRC stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning CMRC.
How does current CMRC implied volatility affect this cash-secured put?
CMRC ATM IV is at 108.50% with IV rank near 41.20%, 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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