CNNE Cash-Secured Put Strategy
CNNE (Cannae Holdings, Inc.), in the Consumer Cyclical sector, (Restaurants industry), listed on NYSE.
Cannae Holdings, Inc. is a principal investment firm. The firm primarily invests in restaurants, technology enabled healthcare services, financial services and more. It takes both minority and majority stakes. Cannae Holdings, Inc. is based in Las Vegas, Nevada.
CNNE (Cannae Holdings, Inc.) trades in the Consumer Cyclical sector, specifically Restaurants, with a market capitalization of approximately $699.0M, a beta of 1.19 versus the broader market, a 52-week range of 10.46-21.96, average daily share volume of 690K, a public-listing history dating back to 2017, approximately 7K full-time employees. These structural characteristics shape how CNNE stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.19 places CNNE roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. CNNE 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 CNNE?
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 CNNE snapshot
As of May 15, 2026, spot at $13.14, ATM IV 46.20%, IV rank 6.08%, expected move 13.25%. The cash-secured put on CNNE 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 CNNE specifically: CNNE IV at 46.20% is on the cheap side of its 1-year range, which means a premium-selling CNNE cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 13.25% (roughly $1.74 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 CNNE expiries trade a higher absolute premium for lower per-day decay. Position sizing on CNNE should anchor to the underlying notional of $13.14 per share and to the trader's directional view on CNNE stock.
CNNE cash-secured put setup
The CNNE 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 CNNE near $13.14, the first option leg uses a $12.48 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CNNE 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 CNNE shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $12.48 | N/A |
CNNE 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.
CNNE cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on CNNE. 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 CNNE
Cash-secured puts on CNNE earn premium while a trader waits to acquire CNNE stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning CNNE.
CNNE thesis for this cash-secured put
The market-implied 1-standard-deviation range for CNNE extends from approximately $11.40 on the downside to $14.88 on the upside. A CNNE cash-secured put lets a trader earn premium while waiting to acquire CNNE 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 CNNE IV rank near 6.08% 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 CNNE at 46.20%. As a Consumer Cyclical name, CNNE options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CNNE-specific events.
CNNE 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. CNNE positions also carry Consumer Cyclical sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CNNE alongside the broader basket even when CNNE-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on CNNE carry tail risk when realized volatility exceeds the implied move; review historical CNNE earnings reactions and macro stress periods before sizing. Always rebuild the position from current CNNE chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on CNNE?
- A cash-secured put on CNNE is the cash-secured put strategy applied to CNNE (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 CNNE stock trading near $13.14, the strikes shown on this page are snapped to the nearest listed CNNE chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are CNNE 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 CNNE cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 46.20%), 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 CNNE cash-secured put?
- The breakeven for the CNNE 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 CNNE market-implied 1-standard-deviation expected move is approximately 13.25%; 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 CNNE?
- Cash-secured puts on CNNE earn premium while a trader waits to acquire CNNE stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning CNNE.
- How does current CNNE implied volatility affect this cash-secured put?
- CNNE ATM IV is at 46.20% with IV rank near 6.08%, 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.