DINO Cash-Secured Put Strategy
DINO (HF Sinclair Corporation), in the Energy sector, (Oil & Gas Refining & Marketing industry), listed on NYSE.
HF Sinclair Corporation operates as a prominent independent energy enterprise, engaged in the production and commercialization of a diverse array of petroleum products. Its offerings include conventional fuels such as gasoline, diesel, and jet fuel, alongside its growing renewable diesel segment. The company also specializes in unique lubricants, chemicals, and various types of asphalt. With a network of refineries strategically located in Kansas, Oklahoma, New Mexico, Utah, Washington, and Wyoming, HF Sinclair primarily distributes its refined output across the Southwestern United States, the Rocky Mountain region, the Pacific Northwest, and adjacent Plains states. The corporation additionally supplies fuel to roughly 1,300 independently owned Sinclair-branded service stations and grants branding licenses for approximately 300 more. Actively involved in the expanding renewables business, HF Sinclair also manufactures base oils and other specialized lubricants.
DINO (HF Sinclair Corporation) trades in the Energy sector, specifically Oil & Gas Refining & Marketing, with a market capitalization of approximately $12.31B, a trailing P/E of 10.02, a beta of 0.71 versus the broader market, a 52-week range of 40.68-74.73, average daily share volume of 2.3M, a public-listing history dating back to 1980, approximately 5K full-time employees. These structural characteristics shape how DINO stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.71 places DINO roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 10.02 is on the value side, where IV often compresses outside event windows because forward growth expectations are already discounted into the share price. DINO 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 DINO?
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 DINO snapshot
As of June 30, 2026, spot at $69.63, ATM IV 40.50%, IV rank 40.49%, expected move 11.61%. The cash-secured put on DINO 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 80-day expiry.
Why this cash-secured put structure on DINO specifically: DINO IV at 40.50% is mid-range versus its 1-year history, so the credit collected on a DINO cash-secured put sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 11.61% (roughly $8.08 on the underlying). The 80-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated DINO expiries trade a higher absolute premium for lower per-day decay. Position sizing on DINO should anchor to the underlying notional of $69.63 per share and to the trader's directional view on DINO stock.
DINO cash-secured put setup
The DINO 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 DINO near $69.63, the first option leg uses a $65.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed DINO chain at a 80-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 DINO shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $65.00 | $3.20 |
DINO cash-secured put risk and reward
- Net Premium / Debit
- +$320.00
- Max Profit (per contract)
- $320.00
- Max Loss (per contract)
- -$6,179.00
- Breakeven(s)
- $61.80
- Risk / Reward Ratio
- 0.052
Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.
DINO cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on DINO. 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 | -100.0% | -$6,179.00 |
| $15.40 | -77.9% | -$4,639.55 |
| $30.80 | -55.8% | -$3,100.11 |
| $46.19 | -33.7% | -$1,560.66 |
| $61.59 | -11.5% | -$21.21 |
| $76.98 | +10.6% | +$320.00 |
| $92.38 | +32.7% | +$320.00 |
| $107.77 | +54.8% | +$320.00 |
| $123.17 | +76.9% | +$320.00 |
| $138.56 | +99.0% | +$320.00 |
When traders use cash-secured put on DINO
Cash-secured puts on DINO earn premium while a trader waits to acquire DINO stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning DINO.
DINO thesis for this cash-secured put
The market-implied 1-standard-deviation range for DINO extends from approximately $61.55 on the downside to $77.71 on the upside. A DINO cash-secured put lets a trader earn premium while waiting to acquire DINO 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 DINO IV rank near 40.49% is mid-range against its 1-year distribution, so the IV signal is neutral; the cash-secured put thesis on DINO should anchor more to the directional view and the expected-move geometry. As a Energy name, DINO options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to DINO-specific events.
DINO 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. DINO positions also carry Energy sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move DINO alongside the broader basket even when DINO-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on DINO carry tail risk when realized volatility exceeds the implied move; review historical DINO earnings reactions and macro stress periods before sizing. Always rebuild the position from current DINO chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on DINO?
- A cash-secured put on DINO is the cash-secured put strategy applied to DINO (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 DINO stock trading near $69.63, the strikes shown on this page are snapped to the nearest listed DINO chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are DINO 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 DINO cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 40.50%), the computed maximum profit is $320.00 per contract and the computed maximum loss is -$6,179.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a DINO cash-secured put?
- The breakeven for the DINO cash-secured put priced on this page is roughly $61.80 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 DINO market-implied 1-standard-deviation expected move is approximately 11.61%; 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 DINO?
- Cash-secured puts on DINO earn premium while a trader waits to acquire DINO stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning DINO.
- How does current DINO implied volatility affect this cash-secured put?
- DINO ATM IV is at 40.50% with IV rank near 40.49%, 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.