GPRO Cash-Secured Put Strategy
GPRO (GoPro, Inc.), in the Technology sector, (Consumer Electronics industry), listed on NASDAQ.
GoPro, Inc. engages in manufacturing and selling cameras and camera accessories. It provides mountable and wearable cameras and accessories, which it refers to as capture devices. Its product brands include HERO9 Black, HERO8 Black, Max, HERO7 Black, HERO7 Silver, GoPro Plus, and GoPro App. The company was founded by Nicholas Woodman in 2002 and is headquartered in San Mateo, CA.
GPRO (GoPro, Inc.) trades in the Technology sector, specifically Consumer Electronics, with a market capitalization of approximately $187.2M, a beta of 2.47 versus the broader market, a 52-week range of 0.551-3.05, average daily share volume of 7.3M, a public-listing history dating back to 2014, approximately 696 full-time employees. These structural characteristics shape how GPRO stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.47 indicates GPRO 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 GPRO?
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 GPRO snapshot
As of May 15, 2026, spot at $1.15, ATM IV 105.90%, IV rank 25.54%, expected move 30.36%. The cash-secured put on GPRO 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 GPRO specifically: GPRO IV at 105.90% is on the cheap side of its 1-year range, which means a premium-selling GPRO cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 30.36% (roughly $0.35 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 GPRO expiries trade a higher absolute premium for lower per-day decay. Position sizing on GPRO should anchor to the underlying notional of $1.15 per share and to the trader's directional view on GPRO stock.
GPRO cash-secured put setup
The GPRO 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 GPRO near $1.15, the first option leg uses a $1.09 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed GPRO 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 GPRO shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $1.09 | N/A |
GPRO 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.
GPRO cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on GPRO. 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 GPRO
Cash-secured puts on GPRO earn premium while a trader waits to acquire GPRO stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning GPRO.
GPRO thesis for this cash-secured put
The market-implied 1-standard-deviation range for GPRO extends from approximately $0.80 on the downside to $1.50 on the upside. A GPRO cash-secured put lets a trader earn premium while waiting to acquire GPRO 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 GPRO IV rank near 25.54% 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 GPRO at 105.90%. As a Technology name, GPRO options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to GPRO-specific events.
GPRO 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. GPRO positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move GPRO alongside the broader basket even when GPRO-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on GPRO carry tail risk when realized volatility exceeds the implied move; review historical GPRO earnings reactions and macro stress periods before sizing. Always rebuild the position from current GPRO chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on GPRO?
- A cash-secured put on GPRO is the cash-secured put strategy applied to GPRO (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 GPRO stock trading near $1.15, the strikes shown on this page are snapped to the nearest listed GPRO chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are GPRO 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 GPRO cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 105.90%), 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 GPRO cash-secured put?
- The breakeven for the GPRO 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 GPRO market-implied 1-standard-deviation expected move is approximately 30.36%; 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 GPRO?
- Cash-secured puts on GPRO earn premium while a trader waits to acquire GPRO stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning GPRO.
- How does current GPRO implied volatility affect this cash-secured put?
- GPRO ATM IV is at 105.90% with IV rank near 25.54%, 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.