EVR Cash-Secured Put Strategy
EVR (Evercore Inc.), in the Financial Services sector, (Financial - Capital Markets industry), listed on NYSE.
Evercore Inc., together with its subsidiaries, operates as an independent investment banking advisory firm in the United States, Europe, Latin America, and internationally. It operates through two segments, Investment Banking and Investment Management. The Investment Banking segment offers strategic advisory services, such as mergers and acquisitions, strategic, defense, and shareholder advisory, special committee assignments, and transaction structuring; Capital Markets Advisory, including equity capital markets, restructuring, debt advisory, private placement advisory, market risk management and hedging, private capital advisory, and private funds; and research, sales, and trading professionals services on a content-led platform to its institutional investor clients. The Investment Management segment provides wealth management services to high-net-worth individuals, foundations, and endowments; and manages financial assets for institutional investors. The company was formerly known as Evercore Partners Inc. and changed its name to Evercore Inc. in August 2017. Evercore Inc. was founded in 1995 and is headquartered in New York, New York.
EVR (Evercore Inc.) trades in the Financial Services sector, specifically Financial - Capital Markets, with a market capitalization of approximately $13.32B, a trailing P/E of 17.55, a beta of 1.49 versus the broader market, a 52-week range of 217.19-388.71, average daily share volume of 651K, a public-listing history dating back to 2006, approximately 2K full-time employees. These structural characteristics shape how EVR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.49 indicates EVR has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. EVR 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 EVR?
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 EVR snapshot
As of May 15, 2026, spot at $335.03, ATM IV 37.80%, IV rank 39.45%, expected move 10.84%. The cash-secured put on EVR 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 EVR specifically: EVR IV at 37.80% is mid-range versus its 1-year history, so the credit collected on a EVR cash-secured put sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 10.84% (roughly $36.31 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 EVR expiries trade a higher absolute premium for lower per-day decay. Position sizing on EVR should anchor to the underlying notional of $335.03 per share and to the trader's directional view on EVR stock.
EVR cash-secured put setup
The EVR 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 EVR near $335.03, the first option leg uses a $320.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed EVR 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 EVR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $320.00 | $9.75 |
EVR cash-secured put risk and reward
- Net Premium / Debit
- +$975.00
- Max Profit (per contract)
- $975.00
- Max Loss (per contract)
- -$31,024.00
- Breakeven(s)
- $310.25
- Risk / Reward Ratio
- 0.031
Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.
EVR cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on EVR. 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% | -$31,024.00 |
| $74.09 | -77.9% | -$23,616.41 |
| $148.16 | -55.8% | -$16,208.82 |
| $222.24 | -33.7% | -$8,801.24 |
| $296.31 | -11.6% | -$1,393.65 |
| $370.39 | +10.6% | +$975.00 |
| $444.47 | +32.7% | +$975.00 |
| $518.54 | +54.8% | +$975.00 |
| $592.62 | +76.9% | +$975.00 |
| $666.69 | +99.0% | +$975.00 |
When traders use cash-secured put on EVR
Cash-secured puts on EVR earn premium while a trader waits to acquire EVR stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning EVR.
EVR thesis for this cash-secured put
The market-implied 1-standard-deviation range for EVR extends from approximately $298.72 on the downside to $371.34 on the upside. A EVR cash-secured put lets a trader earn premium while waiting to acquire EVR 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 EVR IV rank near 39.45% is mid-range against its 1-year distribution, so the IV signal is neutral; the cash-secured put thesis on EVR should anchor more to the directional view and the expected-move geometry. As a Financial Services name, EVR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to EVR-specific events.
EVR 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. EVR positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move EVR alongside the broader basket even when EVR-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on EVR carry tail risk when realized volatility exceeds the implied move; review historical EVR earnings reactions and macro stress periods before sizing. Always rebuild the position from current EVR chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on EVR?
- A cash-secured put on EVR is the cash-secured put strategy applied to EVR (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 EVR stock trading near $335.03, the strikes shown on this page are snapped to the nearest listed EVR chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are EVR 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 EVR cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 37.80%), the computed maximum profit is $975.00 per contract and the computed maximum loss is -$31,024.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a EVR cash-secured put?
- The breakeven for the EVR cash-secured put priced on this page is roughly $310.25 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 EVR market-implied 1-standard-deviation expected move is approximately 10.84%; 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 EVR?
- Cash-secured puts on EVR earn premium while a trader waits to acquire EVR stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning EVR.
- How does current EVR implied volatility affect this cash-secured put?
- EVR ATM IV is at 37.80% with IV rank near 39.45%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.