EYES Cash-Secured Put Strategy

EYES (Corgi Data & Surveillance ETF), in the Financial Services sector, (Asset Management industry), listed on CBOE.

EYEStargets pure-play or the top 10 companiesmaterially involved indeveloping and deploying technologies that collect, process, analyze, and operationalize data for monitoring, security, and operational visibility.The fund considers companies deriving significant revenue from this theme, spanningsensors, cameras, biometrics, identity verification, geospatial systems, enterprise analytics platforms, and privacy and governance technologies.Using a bottom-up approach that combines fundamental analysis with thematic and quantitative screening, the fund invests in US and international stocks of any market capitalization.Otherfactors include supply chain positioning, growth potential, and valuation.Up to 15% may beallocatedto illiquid investments, including passive minority interests inSPVs.Holdings may include cash, cash equivalents, or short-term US treasuries for liquidity or portfolio management.

EYES (Corgi Data & Surveillance ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $3.7M, a beta of 0.00 versus the broader market, a 52-week range of 23.9-1098.9, average daily share volume of 5K, a public-listing history dating back to 2026. These structural characteristics shape how EYES stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.00 indicates EYES has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure.

What is a cash-secured put on EYES?

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.

EYES snapshot

As of August 14, 2026, spot at $30.21, ATM IV 37.80%, IV rank 6.85%, expected move 10.84%. The cash-secured put on EYES 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 EYES specifically: EYES IV at 37.80% is on the cheap side of its 1-year range, which means a premium-selling EYES cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 10.84% (roughly $3.27 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 EYES expiries trade a higher absolute premium for lower per-day decay. Position sizing on EYES should anchor to the underlying notional of $30.21 per share and to the trader's directional view on EYES stock.

EYES cash-secured put setup

The EYES 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 EYES at $30.21 on that close, the first option leg uses a $28.70 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed EYES 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 EYES shares for the stock leg in covered calls and collars).

ActionTypeStrike / BasisPremium (est)
Sell 1Put$28.70N/A

EYES 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.

EYES cash-secured put payoff curve

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

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

EYES thesis for this cash-secured put

The market-implied 1-standard-deviation range for EYES extends from approximately $26.94 on the downside to $33.48 on the upside. A EYES cash-secured put lets a trader earn premium while waiting to acquire EYES 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 EYES IV rank near 6.85% 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 EYES at 37.80%. As a Financial Services name, EYES options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to EYES-specific events.

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

Frequently asked questions

What is a cash-secured put on EYES?
A cash-secured put on EYES is the cash-secured put strategy applied to EYES (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 EYES stock at $30.21 on the most recent close, the strikes shown on this page are snapped to the nearest listed EYES chain strike and the premiums come straight from that session's bid/ask midpoint.
How are EYES 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 EYES cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 37.80%), 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 EYES cash-secured put?
The breakeven for the EYES 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 EYES market-implied 1-standard-deviation expected move in the same options snapshot 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 EYES?
Cash-secured puts on EYES earn premium while a trader waits to acquire EYES stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning EYES.
How does current EYES implied volatility affect this cash-secured put?
EYES ATM IV is at 37.80% with IV rank near 6.85%, 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.

Related EYES analysis