FTHM Cash-Secured Put Strategy

FTHM (Fathom Holdings Inc.), in the Real Estate sector, (Real Estate - Services industry), listed on NASDAQ.

Fathom Holdings Inc. provides cloud-based real estate brokerage services in the South, Atlantic, Southwest, and Western parts of the United States. It operates through three segments: Real Estate Brokerage, Mortgage, and Technology. The Real Estate Brokerage segment provides real estate brokerage services. The Mortgage segment offers residential loan origination and underwriting services. The Technology segment provides Software as a Service solutions and data mining for third party customers to develop its intelliAgent platform for use by the company's real estate agents. The company operates a real estate services platform that integrates residential brokerage, mortgage, title, and insurance services, as well as supporting software called intelliAgent.

FTHM (Fathom Holdings Inc.) trades in the Real Estate sector, specifically Real Estate - Services, with a market capitalization of approximately $23.2M, a beta of 2.46 versus the broader market, a 52-week range of 0.484-3.37, average daily share volume of 132K, a public-listing history dating back to 2020, approximately 270 full-time employees. These structural characteristics shape how FTHM stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 2.46 indicates FTHM 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 FTHM?

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 FTHM snapshot

As of May 15, 2026, spot at $0.67, ATM IV 21.00%, IV rank 0.94%, expected move 6.02%. The cash-secured put on FTHM 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 FTHM specifically: FTHM IV at 21.00% is on the cheap side of its 1-year range, which means a premium-selling FTHM cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 6.02% (roughly $0.04 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 FTHM expiries trade a higher absolute premium for lower per-day decay. Position sizing on FTHM should anchor to the underlying notional of $0.67 per share and to the trader's directional view on FTHM stock.

FTHM cash-secured put setup

The FTHM 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 FTHM near $0.67, the first option leg uses a $0.64 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed FTHM 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 FTHM shares for the stock leg in covered calls and collars).

ActionTypeStrike / BasisPremium (est)
Sell 1Put$0.64N/A

FTHM 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.

FTHM cash-secured put payoff curve

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

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

FTHM thesis for this cash-secured put

The market-implied 1-standard-deviation range for FTHM extends from approximately $0.63 on the downside to $0.71 on the upside. A FTHM cash-secured put lets a trader earn premium while waiting to acquire FTHM 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 FTHM IV rank near 0.94% 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 FTHM at 21.00%. As a Real Estate name, FTHM options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to FTHM-specific events.

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

Frequently asked questions

What is a cash-secured put on FTHM?
A cash-secured put on FTHM is the cash-secured put strategy applied to FTHM (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 FTHM stock trading near $0.67, the strikes shown on this page are snapped to the nearest listed FTHM chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are FTHM 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 FTHM cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 21.00%), 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 FTHM cash-secured put?
The breakeven for the FTHM 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 FTHM market-implied 1-standard-deviation expected move is approximately 6.02%; 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 FTHM?
Cash-secured puts on FTHM earn premium while a trader waits to acquire FTHM stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning FTHM.
How does current FTHM implied volatility affect this cash-secured put?
FTHM ATM IV is at 21.00% with IV rank near 0.94%, 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.

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