GTLS Cash-Secured Put Strategy
GTLS (Chart Industries, Inc.), in the Industrials sector, (Industrial - Machinery industry), listed on NYSE.
Chart Industries, Inc. is a global manufacturer and distributor of highly engineered equipment, primarily catering to the energy and industrial gas sectors. Its operations are organized into four distinct segments: Cryo Tank Solutions, Heat Transfer Systems, Specialty Products, and Repair, Service & Leasing. The company delivers a full spectrum of cryogenic solutions for the storage, transportation, vaporization, and end-use application of industrial gases, available in both bulk and packaged forms. For liquefied natural gas (LNG) applications, Chart provides critical infrastructure components such as cryogenic trailers, ISO containers, large-scale storage tanks, loading facilities, and regasification units, enabling what are known as "virtual pipeline" systems. It also supplies substantial vacuum insulated storage tanks for clients acquiring standard liquefaction plants. Chart is also a key provider of advanced process technology and essential equipment for LNG projects, ranging from small to mid-scale installations and floating LNG platforms to extensive base-load export facilities.
GTLS (Chart Industries, Inc.) trades in the Industrials sector, specifically Industrial - Machinery, with a market capitalization of approximately $9.98B, a beta of 1.53 versus the broader market, a 52-week range of 160.41-209.13, average daily share volume of 1.3M, a public-listing history dating back to 2006, approximately 12K full-time employees. These structural characteristics shape how GTLS stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.53 indicates GTLS 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 GTLS?
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 GTLS snapshot
As of June 30, 2026, spot at $208.92, ATM IV 162.40%, IV rank 56.59%, expected move 46.56%. The cash-secured put on GTLS 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 17-day expiry.
Why this cash-secured put structure on GTLS specifically: GTLS IV at 162.40% is mid-range versus its 1-year history, so the credit collected on a GTLS cash-secured put sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 46.56% (roughly $97.27 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated GTLS expiries trade a higher absolute premium for lower per-day decay. Position sizing on GTLS should anchor to the underlying notional of $208.92 per share and to the trader's directional view on GTLS stock.
GTLS cash-secured put setup
The GTLS 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 GTLS near $208.92, the first option leg uses a $200.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed GTLS chain at a 17-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 GTLS shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $200.00 | $0.40 |
GTLS cash-secured put risk and reward
- Net Premium / Debit
- +$40.00
- Max Profit (per contract)
- $40.00
- Max Loss (per contract)
- -$19,959.00
- Breakeven(s)
- $199.97
- Risk / Reward Ratio
- 0.002
Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.
GTLS cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on GTLS. 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% | -$19,959.00 |
| $46.20 | -77.9% | -$15,339.77 |
| $92.39 | -55.8% | -$10,720.55 |
| $138.59 | -33.7% | -$6,101.32 |
| $184.78 | -11.6% | -$1,482.10 |
| $230.97 | +10.6% | +$40.00 |
| $277.16 | +32.7% | +$40.00 |
| $323.36 | +54.8% | +$40.00 |
| $369.55 | +76.9% | +$40.00 |
| $415.74 | +99.0% | +$40.00 |
When traders use cash-secured put on GTLS
Cash-secured puts on GTLS earn premium while a trader waits to acquire GTLS stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning GTLS.
GTLS thesis for this cash-secured put
The market-implied 1-standard-deviation range for GTLS extends from approximately $111.65 on the downside to $306.19 on the upside. A GTLS cash-secured put lets a trader earn premium while waiting to acquire GTLS 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 GTLS IV rank near 56.59% is mid-range against its 1-year distribution, so the IV signal is neutral; the cash-secured put thesis on GTLS should anchor more to the directional view and the expected-move geometry. As a Industrials name, GTLS options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to GTLS-specific events.
GTLS 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. GTLS positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move GTLS alongside the broader basket even when GTLS-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on GTLS carry tail risk when realized volatility exceeds the implied move; review historical GTLS earnings reactions and macro stress periods before sizing. Always rebuild the position from current GTLS chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on GTLS?
- A cash-secured put on GTLS is the cash-secured put strategy applied to GTLS (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 GTLS stock trading near $208.92, the strikes shown on this page are snapped to the nearest listed GTLS chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are GTLS 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 GTLS cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 162.40%), the computed maximum profit is $40.00 per contract and the computed maximum loss is -$19,959.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a GTLS cash-secured put?
- The breakeven for the GTLS cash-secured put priced on this page is roughly $199.97 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 GTLS market-implied 1-standard-deviation expected move is approximately 46.56%; 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 GTLS?
- Cash-secured puts on GTLS earn premium while a trader waits to acquire GTLS stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning GTLS.
- How does current GTLS implied volatility affect this cash-secured put?
- GTLS ATM IV is at 162.40% with IV rank near 56.59%, 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.