HAE Cash-Secured Put Strategy
HAE (Haemonetics Corporation), in the Healthcare sector, (Medical - Instruments & Supplies industry), listed on NYSE.
Haemonetics Corporation, a healthcare company, provides medical products and solutions. It operates through three segments: Plasma, Blood Center, and Hospital. The company offers automated plasma collection devices, related disposables, and software, including NexSys PCS and PCS2 plasmapheresis equipment and related disposables and intravenous solutions, as well as integrated information technology platforms for plasma customers to manage their donors, operations, and supply chain; and NexLynk DMS donor management system. It also provides automated blood component and manual whole blood collection systems, such as MCS brand apheresis equipment to collect specific blood components from the donor; disposable whole blood collection and component storage sets; SafeTrace Tx blood bank information system; and BloodTrack blood management software, a suite of blood management and bedside transfusion solutions that combines software with hardware components, as well as an extension of the hospital's blood bank information system. In addition, the company offers hospital products comprising TEG, ClotPro, and HAS hemostasis analyzer systems that provide a comprehensive assessment of a patient's overall hemostasis; TEG Manager software, which connects various TEG analyzers throughout the hospital, providing clinicians remote access to active and historical test results that inform treatment decisions; and Cell Saver Elite +, an autologous blood recovery system for cardiovascular, orthopedic, trauma, transplant, vascular, obstetrical, and gynecological surgeries. It markets and sells its products through direct sales force, independent distributors, and sales representatives.
HAE (Haemonetics Corporation) trades in the Healthcare sector, specifically Medical - Instruments & Supplies, with a market capitalization of approximately $2.65B, a trailing P/E of 27.08, a beta of 0.53 versus the broader market, a 52-week range of 47.32-87.32, average daily share volume of 764K, a public-listing history dating back to 1991, approximately 4K full-time employees. These structural characteristics shape how HAE stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.53 indicates HAE has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure.
What is a cash-secured put on HAE?
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 HAE snapshot
As of May 15, 2026, spot at $56.80, ATM IV 44.10%, IV rank 6.49%, expected move 12.64%. The cash-secured put on HAE 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 HAE specifically: HAE IV at 44.10% is on the cheap side of its 1-year range, which means a premium-selling HAE cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 12.64% (roughly $7.18 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 HAE expiries trade a higher absolute premium for lower per-day decay. Position sizing on HAE should anchor to the underlying notional of $56.80 per share and to the trader's directional view on HAE stock.
HAE cash-secured put setup
The HAE 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 HAE near $56.80, the first option leg uses a $55.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed HAE 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 HAE shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $55.00 | $2.05 |
HAE cash-secured put risk and reward
- Net Premium / Debit
- +$205.00
- Max Profit (per contract)
- $205.00
- Max Loss (per contract)
- -$5,294.00
- Breakeven(s)
- $52.95
- Risk / Reward Ratio
- 0.039
Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.
HAE cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on HAE. 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% | -$5,294.00 |
| $12.57 | -77.9% | -$4,038.23 |
| $25.13 | -55.8% | -$2,782.46 |
| $37.68 | -33.7% | -$1,526.69 |
| $50.24 | -11.5% | -$270.92 |
| $62.80 | +10.6% | +$205.00 |
| $75.36 | +32.7% | +$205.00 |
| $87.91 | +54.8% | +$205.00 |
| $100.47 | +76.9% | +$205.00 |
| $113.03 | +99.0% | +$205.00 |
When traders use cash-secured put on HAE
Cash-secured puts on HAE earn premium while a trader waits to acquire HAE stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning HAE.
HAE thesis for this cash-secured put
The market-implied 1-standard-deviation range for HAE extends from approximately $49.62 on the downside to $63.98 on the upside. A HAE cash-secured put lets a trader earn premium while waiting to acquire HAE 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 HAE IV rank near 6.49% 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 HAE at 44.10%. As a Healthcare name, HAE options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to HAE-specific events.
HAE 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. HAE positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move HAE alongside the broader basket even when HAE-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on HAE carry tail risk when realized volatility exceeds the implied move; review historical HAE earnings reactions and macro stress periods before sizing. Always rebuild the position from current HAE chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on HAE?
- A cash-secured put on HAE is the cash-secured put strategy applied to HAE (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 HAE stock trading near $56.80, the strikes shown on this page are snapped to the nearest listed HAE chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are HAE 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 HAE cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 44.10%), the computed maximum profit is $205.00 per contract and the computed maximum loss is -$5,294.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a HAE cash-secured put?
- The breakeven for the HAE cash-secured put priced on this page is roughly $52.95 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 HAE market-implied 1-standard-deviation expected move is approximately 12.64%; 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 HAE?
- Cash-secured puts on HAE earn premium while a trader waits to acquire HAE stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning HAE.
- How does current HAE implied volatility affect this cash-secured put?
- HAE ATM IV is at 44.10% with IV rank near 6.49%, 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.