FSLR Cash-Secured Put Strategy
FSLR (First Solar, Inc.), in the Energy sector, (Solar industry), listed on NASDAQ.
First Solar, Inc. provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners. The company was formerly known as First Solar Holdings, Inc. and changed its name to First Solar, Inc. in 2006. First Solar, Inc. was founded in 1999 and is headquartered in Tempe, Arizona.
FSLR (First Solar, Inc.) trades in the Energy sector, specifically Solar, with a market capitalization of approximately $25.21B, a trailing P/E of 15.12, a beta of 1.56 versus the broader market, a 52-week range of 135.5-285.99, average daily share volume of 2.3M, a public-listing history dating back to 2006, approximately 8K full-time employees. These structural characteristics shape how FSLR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.56 indicates FSLR 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 FSLR?
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 FSLR snapshot
As of May 15, 2026, spot at $236.03, ATM IV 55.41%, IV rank 38.18%, expected move 15.89%. The cash-secured put on FSLR 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 28-day expiry.
Why this cash-secured put structure on FSLR specifically: FSLR IV at 55.41% is mid-range versus its 1-year history, so the credit collected on a FSLR cash-secured put sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 15.89% (roughly $37.50 on the underlying). The 28-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated FSLR expiries trade a higher absolute premium for lower per-day decay. Position sizing on FSLR should anchor to the underlying notional of $236.03 per share and to the trader's directional view on FSLR stock.
FSLR cash-secured put setup
The FSLR 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 FSLR near $236.03, the first option leg uses a $225.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed FSLR chain at a 28-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 FSLR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $225.00 | $8.75 |
FSLR cash-secured put risk and reward
- Net Premium / Debit
- +$875.00
- Max Profit (per contract)
- $875.00
- Max Loss (per contract)
- -$21,624.00
- Breakeven(s)
- $216.25
- Risk / Reward Ratio
- 0.040
Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.
FSLR cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on FSLR. 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% | -$21,624.00 |
| $52.20 | -77.9% | -$16,405.36 |
| $104.38 | -55.8% | -$11,186.71 |
| $156.57 | -33.7% | -$5,968.07 |
| $208.76 | -11.6% | -$749.43 |
| $260.94 | +10.6% | +$875.00 |
| $313.13 | +32.7% | +$875.00 |
| $365.32 | +54.8% | +$875.00 |
| $417.50 | +76.9% | +$875.00 |
| $469.69 | +99.0% | +$875.00 |
When traders use cash-secured put on FSLR
Cash-secured puts on FSLR earn premium while a trader waits to acquire FSLR stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning FSLR.
FSLR thesis for this cash-secured put
The market-implied 1-standard-deviation range for FSLR extends from approximately $198.53 on the downside to $273.53 on the upside. A FSLR cash-secured put lets a trader earn premium while waiting to acquire FSLR 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 FSLR IV rank near 38.18% is mid-range against its 1-year distribution, so the IV signal is neutral; the cash-secured put thesis on FSLR should anchor more to the directional view and the expected-move geometry. As a Energy name, FSLR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to FSLR-specific events.
FSLR 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. FSLR positions also carry Energy sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move FSLR alongside the broader basket even when FSLR-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on FSLR carry tail risk when realized volatility exceeds the implied move; review historical FSLR earnings reactions and macro stress periods before sizing. Always rebuild the position from current FSLR chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on FSLR?
- A cash-secured put on FSLR is the cash-secured put strategy applied to FSLR (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 FSLR stock trading near $236.03, the strikes shown on this page are snapped to the nearest listed FSLR chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are FSLR 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 FSLR cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 55.41%), the computed maximum profit is $875.00 per contract and the computed maximum loss is -$21,624.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a FSLR cash-secured put?
- The breakeven for the FSLR cash-secured put priced on this page is roughly $216.25 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 FSLR market-implied 1-standard-deviation expected move is approximately 15.89%; 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 FSLR?
- Cash-secured puts on FSLR earn premium while a trader waits to acquire FSLR stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning FSLR.
- How does current FSLR implied volatility affect this cash-secured put?
- FSLR ATM IV is at 55.41% with IV rank near 38.18%, 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.