DYAI Cash-Secured Put Strategy
DYAI (Dyadic International, Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
Dyadic International, Inc., a biotechnology platform company, develops, produces, and sells enzymes and other proteins in the United States. The company utilizes its patented and proprietary C1 platform and other technologies to conduct research, development, and commercial activities for the development and manufacturing of human and animal vaccines and drugs, such as virus like particles and antigens, monoclonal antibodies, bi/tri-specific antibodies, fab antibody fragments, Fc-fusion proteins, biosimilars and/or biobetters, and other therapeutic enzymes and proteins. It offers DYAI-100, SARS-CoV-2-RBD antigen vaccine candidate towards a first-in-human Phase 1 clinical trial, is to validate to serve as proof of concept for the development of next generation multivariant COVID-19 vaccine candidates. The company has a research and development agreement with VTT Technical Research Centre of Finland, Ltd.; strategic research services agreement with Biotechnology Developments for Industry in Pharmaceuticals, S.L.U.; and collaboration with Syngene International Limited. Dyadic International, Inc. was founded in 1979 and is headquartered in Jupiter, Florida.
DYAI (Dyadic International, Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $25.9M, a beta of 1.17 versus the broader market, a 52-week range of 0.65-1.35, average daily share volume of 79K, a public-listing history dating back to 2008, approximately 6 full-time employees. These structural characteristics shape how DYAI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.17 places DYAI 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 DYAI?
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 DYAI snapshot
As of May 15, 2026, spot at $0.73, ATM IV 24.60%, IV rank 1.90%, expected move 7.05%. The cash-secured put on DYAI 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 DYAI specifically: DYAI IV at 24.60% is on the cheap side of its 1-year range, which means a premium-selling DYAI cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 7.05% (roughly $0.05 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 DYAI expiries trade a higher absolute premium for lower per-day decay. Position sizing on DYAI should anchor to the underlying notional of $0.73 per share and to the trader's directional view on DYAI stock.
DYAI cash-secured put setup
The DYAI 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 DYAI near $0.73, the first option leg uses a $0.69 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed DYAI 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 DYAI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $0.69 | N/A |
DYAI 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.
DYAI cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on DYAI. 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 DYAI
Cash-secured puts on DYAI earn premium while a trader waits to acquire DYAI stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning DYAI.
DYAI thesis for this cash-secured put
The market-implied 1-standard-deviation range for DYAI extends from approximately $0.68 on the downside to $0.78 on the upside. A DYAI cash-secured put lets a trader earn premium while waiting to acquire DYAI 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 DYAI IV rank near 1.90% 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 DYAI at 24.60%. As a Healthcare name, DYAI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to DYAI-specific events.
DYAI 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. DYAI positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move DYAI alongside the broader basket even when DYAI-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on DYAI carry tail risk when realized volatility exceeds the implied move; review historical DYAI earnings reactions and macro stress periods before sizing. Always rebuild the position from current DYAI chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on DYAI?
- A cash-secured put on DYAI is the cash-secured put strategy applied to DYAI (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 DYAI stock trading near $0.73, the strikes shown on this page are snapped to the nearest listed DYAI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are DYAI 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 DYAI cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 24.60%), 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 DYAI cash-secured put?
- The breakeven for the DYAI 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 DYAI market-implied 1-standard-deviation expected move is approximately 7.05%; 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 DYAI?
- Cash-secured puts on DYAI earn premium while a trader waits to acquire DYAI stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning DYAI.
- How does current DYAI implied volatility affect this cash-secured put?
- DYAI ATM IV is at 24.60% with IV rank near 1.90%, 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.