EVER Cash-Secured Put Strategy

EVER (EverQuote, Inc.), in the Communication Services sector, (Internet Content & Information industry), listed on NASDAQ.

EverQuote, Inc. operates an online digital platform designed for insurance shoppers across the United States. Through its marketplace, individuals can compare and acquire policies for various needs, including automotive, home, renters, life, and health insurance. The company also provides services to a network of insurance carriers, agents, and other third-party distributors. Established in 2008, EverQuote, Inc. was originally known as AdHarmonics, Inc., before adopting its current name in November 2014. The firm's headquarters are located in Cambridge, Massachusetts.

EVER (EverQuote, Inc.) trades in the Communication Services sector, specifically Internet Content & Information, with a market capitalization of approximately $866.9M, a trailing P/E of 7.64, a beta of 0.61 versus the broader market, a 52-week range of 13.88-28.73, average daily share volume of 849K, a public-listing history dating back to 2018, approximately 356 full-time employees. These structural characteristics shape how EVER stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.61 indicates EVER has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. The trailing P/E of 7.64 is on the value side, where IV often compresses outside event windows because forward growth expectations are already discounted into the share price. EVER 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 EVER?

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.

EVER snapshot

As of August 14, 2026, spot at $24.40, ATM IV 56.80%, IV rank 19.36%, expected move 16.28%. The cash-secured put on EVER 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 EVER specifically: EVER IV at 56.80% is on the cheap side of its 1-year range, which means a premium-selling EVER cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 16.28% (roughly $3.97 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 EVER expiries trade a higher absolute premium for lower per-day decay. Position sizing on EVER should anchor to the underlying notional of $24.40 per share and to the trader's directional view on EVER stock.

EVER cash-secured put setup

The EVER 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 EVER at $24.40 on that close, the first option leg uses a $23.18 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed EVER 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 EVER shares for the stock leg in covered calls and collars).

ActionTypeStrike / BasisPremium (est)
Sell 1Put$23.18N/A

EVER 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.

EVER cash-secured put payoff curve

Modeled P&L at expiration across a range of underlying prices for the cash-secured put on EVER. 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 EVER

Cash-secured puts on EVER earn premium while a trader waits to acquire EVER stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning EVER.

EVER thesis for this cash-secured put

The market-implied 1-standard-deviation range for EVER extends from approximately $20.43 on the downside to $28.37 on the upside. A EVER cash-secured put lets a trader earn premium while waiting to acquire EVER 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 EVER IV rank near 19.36% 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 EVER at 56.80%. As a Communication Services name, EVER options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to EVER-specific events.

EVER 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. EVER positions also carry Communication Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move EVER alongside the broader basket even when EVER-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on EVER carry tail risk when realized volatility exceeds the implied move; review historical EVER earnings reactions and macro stress periods before sizing. Always rebuild the position from current EVER chain quotes before placing a trade.

Frequently asked questions

What is a cash-secured put on EVER?
A cash-secured put on EVER is the cash-secured put strategy applied to EVER (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 EVER stock at $24.40 on the most recent close, the strikes shown on this page are snapped to the nearest listed EVER chain strike and the premiums come straight from that session's bid/ask midpoint.
How are EVER 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 EVER cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 56.80%), 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 EVER cash-secured put?
The breakeven for the EVER 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 EVER market-implied 1-standard-deviation expected move in the same options snapshot is approximately 16.28%; 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 EVER?
Cash-secured puts on EVER earn premium while a trader waits to acquire EVER stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning EVER.
How does current EVER implied volatility affect this cash-secured put?
EVER ATM IV is at 56.80% with IV rank near 19.36%, 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.

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