How are FCN 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 FCN cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 38.10%), the computed maximum profit is $297.50 per contract and the computed maximum loss is -$13,201.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a FCN cash-secured put?

The breakeven for the FCN cash-secured put priced on this page is roughly $132.03 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 FCN market-implied 1-standard-deviation expected move is approximately 10.92%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current FCN implied volatility affect this cash-secured put?

FCN ATM IV is at 38.10% with IV rank near 54.51%, 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.

FCN Cash-Secured Put Strategy

FCN (FTI Consulting, Inc.), in the Industrials sector, (Consulting Services industry), listed on NYSE.

FTI Consulting, Inc. provides business advisory services to manage change, mitigate risk, and resolve disputes worldwide. The company operates through five segments: Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology, and Strategic Communications. Its Corporate Finance & Restructuring segment provides business transformation, transactions, and turnaround and restructuring services. The company's Forensic and Litigation Consulting segment offers. construction and environmental solution, data and analytics, dispute, health solution, and risk and investigation services. Its Economic Consulting segment provides. antitrust and competition economic, financial economic, and international arbitration services. The company's Technology segment offers corporate legal operation; e-discovery and expertise; and information governance, privacy, and security services.

FCN (FTI Consulting, Inc.) trades in the Industrials sector, specifically Consulting Services, with a market capitalization of approximately $4.37B, a trailing P/E of 17.10, a beta of 0.00 versus the broader market, a 52-week range of 140.835-189.3, average daily share volume of 463K, a public-listing history dating back to 1996, approximately 8K full-time employees. These structural characteristics shape how FCN stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.00 indicates FCN 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 FCN?

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 FCN snapshot

As of May 15, 2026, spot at $144.57, ATM IV 38.10%, IV rank 54.51%, expected move 10.92%. The cash-secured put on FCN 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 FCN specifically: FCN IV at 38.10% is mid-range versus its 1-year history, so the credit collected on a FCN cash-secured put sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 10.92% (roughly $15.79 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 FCN expiries trade a higher absolute premium for lower per-day decay. Position sizing on FCN should anchor to the underlying notional of $144.57 per share and to the trader's directional view on FCN stock.

FCN cash-secured put setup

The FCN 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 FCN near $144.57, the first option leg uses a $135.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed FCN 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 FCN shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Put	$135.00	$2.98

FCN cash-secured put risk and reward

Net Premium / Debit: +$297.50
Max Profit (per contract): $297.50
Max Loss (per contract): -$13,201.50
Breakeven(s): $132.03
Risk / Reward Ratio: 0.023

Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.

FCN cash-secured put payoff curve

Modeled P&L at expiration across a range of underlying prices for the cash-secured put on FCN. 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%	-$13,201.50
$31.97	-77.9%	-$10,005.09
$63.94	-55.8%	-$6,808.68
$95.90	-33.7%	-$3,612.26
$127.87	-11.6%	-$415.85
$159.83	+10.6%	+$297.50
$191.79	+32.7%	+$297.50
$223.76	+54.8%	+$297.50
$255.72	+76.9%	+$297.50
$287.69	+99.0%	+$297.50

When traders use cash-secured put on FCN

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

FCN thesis for this cash-secured put

The market-implied 1-standard-deviation range for FCN extends from approximately $128.78 on the downside to $160.36 on the upside. A FCN cash-secured put lets a trader earn premium while waiting to acquire FCN 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 FCN IV rank near 54.51% is mid-range against its 1-year distribution, so the IV signal is neutral; the cash-secured put thesis on FCN should anchor more to the directional view and the expected-move geometry. As a Industrials name, FCN options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to FCN-specific events.

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

Frequently asked questions

What is a cash-secured put on FCN?: A cash-secured put on FCN is the cash-secured put strategy applied to FCN (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 FCN stock trading near $144.57, the strikes shown on this page are snapped to the nearest listed FCN chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are FCN 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 FCN cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 38.10%), the computed maximum profit is $297.50 per contract and the computed maximum loss is -$13,201.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a FCN cash-secured put?: The breakeven for the FCN cash-secured put priced on this page is roughly $132.03 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 FCN market-implied 1-standard-deviation expected move is approximately 10.92%; 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 FCN?: Cash-secured puts on FCN earn premium while a trader waits to acquire FCN stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning FCN.
How does current FCN implied volatility affect this cash-secured put?: FCN ATM IV is at 38.10% with IV rank near 54.51%, 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.