FDMT Cash-Secured Put Strategy

FDMT (4D Molecular Therapeutics, Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.

4D Molecular Therapeutics, Inc., a clinical-stage gene therapy company, develops product candidates using its adeno-associated viruses vectors. It develops a portfolio of gene therapy product candidates focuses in three therapeutic areas: ophthalmology, cardiology, and pulmonology. The company has three product candidates that are in clinical trials: 4D-125 that is in a Phase 1/2 clinical trial for the treatment of X-linked retinitis pigmentosa; 4D-110 that is in a Phase 1/2 clinical trial for the treatment of choroideremia; and 4D-310, which is in a Phase 1/2 clinical trial for the treatment of Fabry disease. Its two IND candidates are 4D-150 for the treatment of wet age-related macular degeneration and 4D-710 for the treatment of cystic fibrosis lung disease. 4D Molecular Therapeutics, Inc. has research and collaboration arrangements with uniQure; CRF; Roche; and CFF. The company was founded in 2013 and is headquartered in Emeryville, California.4D Molecular Therapeutics, Inc., a clinical-stage gene therapy company, develops product candidates using its adeno-associated viruses vectors. It develops a portfolio of gene therapy product candidates focuses in three therapeutic areas: ophthalmology, cardiology, and pulmonology.

FDMT (4D Molecular Therapeutics, Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $546.3M, a beta of 2.76 versus the broader market, a 52-week range of 3.02-12.34, average daily share volume of 756K, a public-listing history dating back to 2020, approximately 227 full-time employees. These structural characteristics shape how FDMT stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 2.76 indicates FDMT 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 FDMT?

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 FDMT snapshot

As of May 15, 2026, spot at $9.21, ATM IV 21.10%, IV rank 0.00%, expected move 6.05%. The cash-secured put on FDMT 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 FDMT specifically: FDMT IV at 21.10% is on the cheap side of its 1-year range, which means a premium-selling FDMT cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 6.05% (roughly $0.56 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 FDMT expiries trade a higher absolute premium for lower per-day decay. Position sizing on FDMT should anchor to the underlying notional of $9.21 per share and to the trader's directional view on FDMT stock.

FDMT cash-secured put setup

The FDMT 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 FDMT near $9.21, the first option leg uses a $8.75 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed FDMT 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 FDMT shares for the stock leg in covered calls and collars).

ActionTypeStrike / BasisPremium (est)
Sell 1Put$8.75N/A

FDMT 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.

FDMT cash-secured put payoff curve

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

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

FDMT thesis for this cash-secured put

The market-implied 1-standard-deviation range for FDMT extends from approximately $8.65 on the downside to $9.77 on the upside. A FDMT cash-secured put lets a trader earn premium while waiting to acquire FDMT 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 FDMT IV rank near 0.00% 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 FDMT at 21.10%. As a Healthcare name, FDMT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to FDMT-specific events.

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

Frequently asked questions

What is a cash-secured put on FDMT?
A cash-secured put on FDMT is the cash-secured put strategy applied to FDMT (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 FDMT stock trading near $9.21, the strikes shown on this page are snapped to the nearest listed FDMT chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are FDMT 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 FDMT cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 21.10%), 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 FDMT cash-secured put?
The breakeven for the FDMT cash-secured put priced on this page is no defined breakeven on the modeled curve 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 FDMT market-implied 1-standard-deviation expected move is approximately 6.05%; 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 FDMT?
Cash-secured puts on FDMT earn premium while a trader waits to acquire FDMT stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning FDMT.
How does current FDMT implied volatility affect this cash-secured put?
FDMT ATM IV is at 21.10% with IV rank near 0.00%, 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 FDMT analysis