EPRT Cash-Secured Put Strategy
EPRT (Essential Properties Realty Trust, Inc.), in the Real Estate sector, (REIT - Diversified industry), listed on NYSE.
Essential Properties Realty Trust, Inc. (EPRT) is a real estate enterprise focused on the acquisition, ownership, and management of freestanding, single-tenant commercial properties throughout the United States. The company leases these assets under long-term agreements to a diverse range of mid-sized businesses. Its tenant base spans various sectors, including dining establishments, automotive care facilities (like car washes and repair shops), medical and dental practices, convenience stores, equipment rental providers, entertainment venues, early childhood education centers, grocery outlets, and health and fitness clubs. As of December 31, 2021, EPRT's property portfolio included 1,451 locations. For federal income tax purposes, the company operates as a real estate investment trust (REIT), which generally exempts it from corporate income taxes, provided it distributes at least 90% of its taxable profits to its shareholders. The company was founded in 2016 and maintains its corporate headquarters in Princeton, New Jersey.
EPRT (Essential Properties Realty Trust, Inc.) trades in the Real Estate sector, specifically REIT - Diversified, with a market capitalization of approximately $6.62B, a trailing P/E of 24.37, a beta of 0.88 versus the broader market, a 52-week range of 28.95-34.73, average daily share volume of 2.0M, a public-listing history dating back to 2018, approximately 56 full-time employees. These structural characteristics shape how EPRT stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.88 places EPRT roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. EPRT 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 EPRT?
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.
EPRT snapshot
As of August 14, 2026, spot at $31.01, ATM IV 37.90%, IV rank 6.74%, expected move 10.87%. The cash-secured put on EPRT below is built from the end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.
Why this cash-secured put structure on EPRT specifically: EPRT IV at 37.90% is on the cheap side of its 1-year range, which means a premium-selling EPRT cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 10.87% (roughly $3.37 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated EPRT expiries trade a higher absolute premium for lower per-day decay. Position sizing on EPRT should anchor to the underlying notional of $31.01 per share and to the trader's directional view on EPRT stock.
EPRT cash-secured put setup
The EPRT 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 EPRT at $31.01 on that close, the first option leg uses a $29.46 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed EPRT chain at a 35-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 EPRT shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $29.46 | N/A |
EPRT 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.
EPRT cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on EPRT. 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 EPRT
Cash-secured puts on EPRT earn premium while a trader waits to acquire EPRT stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning EPRT.
EPRT thesis for this cash-secured put
The market-implied 1-standard-deviation range for EPRT extends from approximately $27.64 on the downside to $34.38 on the upside. A EPRT cash-secured put lets a trader earn premium while waiting to acquire EPRT 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 EPRT IV rank near 6.74% 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 EPRT at 37.90%. As a Real Estate name, EPRT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to EPRT-specific events.
EPRT 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. EPRT positions also carry Real Estate sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move EPRT alongside the broader basket even when EPRT-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on EPRT carry tail risk when realized volatility exceeds the implied move; review historical EPRT earnings reactions and macro stress periods before sizing. Always rebuild the position from current EPRT chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on EPRT?
- A cash-secured put on EPRT is the cash-secured put strategy applied to EPRT (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 EPRT stock at $31.01 on the most recent close, the strikes shown on this page are snapped to the nearest listed EPRT chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are EPRT 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 EPRT cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 37.90%), 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 EPRT cash-secured put?
- The breakeven for the EPRT cash-secured put priced on this page is no defined breakeven on the modeled curve at expiration, derived from the end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The EPRT market-implied 1-standard-deviation expected move in the same options snapshot is approximately 10.87%; 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 EPRT?
- Cash-secured puts on EPRT earn premium while a trader waits to acquire EPRT stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning EPRT.
- How does current EPRT implied volatility affect this cash-secured put?
- EPRT ATM IV is at 37.90% with IV rank near 6.74%, 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.