ENTG Cash-Secured Put Strategy
ENTG (Entegris, Inc.), in the Technology sector, (Semiconductors industry), listed on NASDAQ.
Entegris, Inc. is a global enterprise that develops, manufactures, and supplies critical solutions for microcontamination control, specialty chemicals, and advanced material handling. The company operates extensively across North America, Taiwan, China, South Korea, Japan, Europe, and Southeast Asia. Its operations are structured into three primary segments: Specialty Chemicals and Engineered Materials (SCEM): This division delivers high-performance, ultra-pure process chemistries, specialized gases, and advanced materials, along with their associated delivery systems, crucial for semiconductor fabrication and other sophisticated manufacturing processes. Microcontamination Control (MC): The MC unit focuses on providing systems designed to filter and purify essential liquid chemicals and gases utilized within the semiconductor industry and various other high-technology sectors. Advanced Materials Handling (AMH): This segment creates solutions for the monitoring, protection, transport, and precise delivery of vital liquid chemicals, silicon wafers, and a range of other critical substrates. These offerings support industries such as semiconductors, life sciences, and other high-tech applications.
ENTG (Entegris, Inc.) trades in the Technology sector, specifically Semiconductors, with a market capitalization of approximately $24.59B, a trailing P/E of 92.95, a beta of 1.36 versus the broader market, a 52-week range of 67.97-186.94, average daily share volume of 3.1M, a public-listing history dating back to 2000, approximately 8K full-time employees. These structural characteristics shape how ENTG stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.36 indicates ENTG has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. The trailing P/E of 92.95 is on the rich side, which tends to correlate with higher earnings-window IV expansion as the market debates whether forward growth supports the multiple. ENTG 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 ENTG?
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 ENTG snapshot
As of June 30, 2026, spot at $181.56, ATM IV 82.70%, IV rank 74.94%, expected move 23.71%. The cash-secured put on ENTG 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 17-day expiry.
Why this cash-secured put structure on ENTG specifically: ENTG IV at 82.70% is rich versus its 1-year range, which favors premium-selling structures like a ENTG cash-secured put, with a market-implied 1-standard-deviation move of approximately 23.71% (roughly $43.05 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated ENTG expiries trade a higher absolute premium for lower per-day decay. Position sizing on ENTG should anchor to the underlying notional of $181.56 per share and to the trader's directional view on ENTG stock.
ENTG cash-secured put setup
The ENTG 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 ENTG near $181.56, the first option leg uses a $170.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ENTG chain at a 17-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 ENTG shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $170.00 | $7.65 |
ENTG cash-secured put risk and reward
- Net Premium / Debit
- +$765.00
- Max Profit (per contract)
- $765.00
- Max Loss (per contract)
- -$16,234.00
- Breakeven(s)
- $162.35
- Risk / Reward Ratio
- 0.047
Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.
ENTG cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on ENTG. 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% | -$16,234.00 |
| $40.15 | -77.9% | -$12,219.72 |
| $80.30 | -55.8% | -$8,205.44 |
| $120.44 | -33.7% | -$4,191.16 |
| $160.58 | -11.6% | -$176.87 |
| $200.72 | +10.6% | +$765.00 |
| $240.87 | +32.7% | +$765.00 |
| $281.01 | +54.8% | +$765.00 |
| $321.15 | +76.9% | +$765.00 |
| $361.30 | +99.0% | +$765.00 |
When traders use cash-secured put on ENTG
Cash-secured puts on ENTG earn premium while a trader waits to acquire ENTG stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning ENTG.
ENTG thesis for this cash-secured put
The market-implied 1-standard-deviation range for ENTG extends from approximately $138.51 on the downside to $224.61 on the upside. A ENTG cash-secured put lets a trader earn premium while waiting to acquire ENTG 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 ENTG IV rank near 74.94% sits in the upper third of its 1-year distribution, which historically reverts; this raises the bar for premium-buying structures and lowers it for premium-selling structures on ENTG at 82.70%. As a Technology name, ENTG options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ENTG-specific events.
ENTG 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. ENTG positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ENTG alongside the broader basket even when ENTG-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on ENTG carry tail risk when realized volatility exceeds the implied move; review historical ENTG earnings reactions and macro stress periods before sizing. Always rebuild the position from current ENTG chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on ENTG?
- A cash-secured put on ENTG is the cash-secured put strategy applied to ENTG (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 ENTG stock trading near $181.56, the strikes shown on this page are snapped to the nearest listed ENTG chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are ENTG 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 ENTG cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 82.70%), the computed maximum profit is $765.00 per contract and the computed maximum loss is -$16,234.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a ENTG cash-secured put?
- The breakeven for the ENTG cash-secured put priced on this page is roughly $162.35 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 ENTG market-implied 1-standard-deviation expected move is approximately 23.71%; 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 ENTG?
- Cash-secured puts on ENTG earn premium while a trader waits to acquire ENTG stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning ENTG.
- How does current ENTG implied volatility affect this cash-secured put?
- ENTG ATM IV is at 82.70% with IV rank near 74.94%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.