HAYW Cash-Secured Put Strategy

HAYW (Hayward Holdings, Inc.), in the Industrials sector, (Electrical Equipment & Parts industry), listed on NYSE.

Hayward Holdings, Inc. designs, manufactures, and markets a portfolio of pool equipment and associated automation systems in North America, Europe, and internationally. The company offers residential and commercial pool equipment, including pumps, filters, heaters, automatic pool cleaners, LED lighting, Internet of things enabled controls, alternate sanitizers, and water features. It sells its products through specialty distributors, retailers, and buying groups. Hayward Holdings, Inc. was founded in 1925 and is headquartered in Charlotte, North Carolina.

HAYW (Hayward Holdings, Inc.) trades in the Industrials sector, specifically Electrical Equipment & Parts, with a market capitalization of approximately $2.99B, a trailing P/E of 18.68, a beta of 1.14 versus the broader market, a 52-week range of 13.04-17.73, average daily share volume of 2.5M, a public-listing history dating back to 2021, approximately 2K full-time employees. These structural characteristics shape how HAYW stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.14 places HAYW roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.

What is a cash-secured put on HAYW?

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 HAYW snapshot

As of May 15, 2026, spot at $13.62, ATM IV 60.10%, IV rank 13.38%, expected move 17.23%. The cash-secured put on HAYW 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 HAYW specifically: HAYW IV at 60.10% is on the cheap side of its 1-year range, which means a premium-selling HAYW cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 17.23% (roughly $2.35 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 HAYW expiries trade a higher absolute premium for lower per-day decay. Position sizing on HAYW should anchor to the underlying notional of $13.62 per share and to the trader's directional view on HAYW stock.

HAYW cash-secured put setup

The HAYW 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 HAYW near $13.62, the first option leg uses a $12.94 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed HAYW 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 HAYW shares for the stock leg in covered calls and collars).

ActionTypeStrike / BasisPremium (est)
Sell 1Put$12.94N/A

HAYW 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.

HAYW cash-secured put payoff curve

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

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

HAYW thesis for this cash-secured put

The market-implied 1-standard-deviation range for HAYW extends from approximately $11.27 on the downside to $15.97 on the upside. A HAYW cash-secured put lets a trader earn premium while waiting to acquire HAYW 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 HAYW IV rank near 13.38% 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 HAYW at 60.10%. As a Industrials name, HAYW options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to HAYW-specific events.

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

Frequently asked questions

What is a cash-secured put on HAYW?
A cash-secured put on HAYW is the cash-secured put strategy applied to HAYW (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 HAYW stock trading near $13.62, the strikes shown on this page are snapped to the nearest listed HAYW chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are HAYW 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 HAYW cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 60.10%), 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 HAYW cash-secured put?
The breakeven for the HAYW 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 HAYW market-implied 1-standard-deviation expected move is approximately 17.23%; 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 HAYW?
Cash-secured puts on HAYW earn premium while a trader waits to acquire HAYW stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning HAYW.
How does current HAYW implied volatility affect this cash-secured put?
HAYW ATM IV is at 60.10% with IV rank near 13.38%, 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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