EVLV Cash-Secured Put Strategy
EVLV (Evolv Technologies Holdings, Inc.), in the Industrials sector, (Security & Protection Services industry), listed on NASDAQ.
Evolv Technologies Holdings, Inc. provides artificial intelligence (AI)-based touchless security screening systems. Its products include Evolv Express, a touchless security screening system designed to detect firearms, improvised explosive devices, and tactical knives as visitors walk through at a normal pace; Evolv Insights that provides self-serve access, insights regarding visitor flow and arrival curves, location specific performance, system detection performance, and alarm statistics; and Evolv Edge to detect non-metallic explosive devices, explosive devices, firearms, and tactical knives without requiring visitors to divest or empty their pockets. The company is headquartered in Waltham, Massachusetts.
EVLV (Evolv Technologies Holdings, Inc.) trades in the Industrials sector, specifically Security & Protection Services, with a market capitalization of approximately $1.08B, a beta of 1.82 versus the broader market, a 52-week range of 4.16-8.91, average daily share volume of 3.1M, a public-listing history dating back to 2020, approximately 287 full-time employees. These structural characteristics shape how EVLV stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.82 indicates EVLV has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.
What is a cash-secured put on EVLV?
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 EVLV snapshot
As of May 15, 2026, spot at $5.75, ATM IV 68.10%, IV rank 20.48%, expected move 19.52%. The cash-secured put on EVLV 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 245-day expiry.
Why this cash-secured put structure on EVLV specifically: EVLV IV at 68.10% is on the cheap side of its 1-year range, which means a premium-selling EVLV cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 19.52% (roughly $1.12 on the underlying). The 245-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated EVLV expiries trade a higher absolute premium for lower per-day decay. Position sizing on EVLV should anchor to the underlying notional of $5.75 per share and to the trader's directional view on EVLV stock.
EVLV cash-secured put setup
The EVLV 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 EVLV near $5.75, the first option leg uses a $5.50 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed EVLV chain at a 245-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 EVLV shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $5.50 | $1.13 |
EVLV cash-secured put risk and reward
- Net Premium / Debit
- +$112.50
- Max Profit (per contract)
- $112.50
- Max Loss (per contract)
- -$436.50
- Breakeven(s)
- $4.38
- Risk / Reward Ratio
- 0.258
Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.
EVLV cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on EVLV. 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 | -99.8% | -$436.50 |
| $1.28 | -77.7% | -$309.47 |
| $2.55 | -55.6% | -$182.45 |
| $3.82 | -33.6% | -$55.42 |
| $5.09 | -11.5% | +$71.60 |
| $6.36 | +10.6% | +$112.50 |
| $7.63 | +32.7% | +$112.50 |
| $8.90 | +54.8% | +$112.50 |
| $10.17 | +76.9% | +$112.50 |
| $11.44 | +99.0% | +$112.50 |
When traders use cash-secured put on EVLV
Cash-secured puts on EVLV earn premium while a trader waits to acquire EVLV stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning EVLV.
EVLV thesis for this cash-secured put
The market-implied 1-standard-deviation range for EVLV extends from approximately $4.63 on the downside to $6.87 on the upside. A EVLV cash-secured put lets a trader earn premium while waiting to acquire EVLV 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 EVLV IV rank near 20.48% 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 EVLV at 68.10%. As a Industrials name, EVLV options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to EVLV-specific events.
EVLV 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. EVLV positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move EVLV alongside the broader basket even when EVLV-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on EVLV carry tail risk when realized volatility exceeds the implied move; review historical EVLV earnings reactions and macro stress periods before sizing. Always rebuild the position from current EVLV chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on EVLV?
- A cash-secured put on EVLV is the cash-secured put strategy applied to EVLV (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 EVLV stock trading near $5.75, the strikes shown on this page are snapped to the nearest listed EVLV chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are EVLV 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 EVLV cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 68.10%), the computed maximum profit is $112.50 per contract and the computed maximum loss is -$436.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a EVLV cash-secured put?
- The breakeven for the EVLV cash-secured put priced on this page is roughly $4.38 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 EVLV market-implied 1-standard-deviation expected move is approximately 19.52%; 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 EVLV?
- Cash-secured puts on EVLV earn premium while a trader waits to acquire EVLV stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning EVLV.
- How does current EVLV implied volatility affect this cash-secured put?
- EVLV ATM IV is at 68.10% with IV rank near 20.48%, 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.