HLNE Cash-Secured Put Strategy
HLNE (Hamilton Lane Incorporated), in the Financial Services sector, (Asset Management industry), listed on NASDAQ.
Hamilton Lane Incorporated is an investment firm specializing in direct and fund of fund investments. It provides following services: separate accounts (customized to each individual client and structured as single client vehicles); specialized strategies (fund-of-funds, secondaries, co-investments, taft-hartley, distribution management); advisory relationships (including due diligence, strategic portfolio planning, monitoring and reporting services); and reporting and analytics solutions. For direct investments, the firm invests in early, mid and late venture, mature companies, growth equity, emerging growth, distressed debt, later stage, turnarounds, bridge financing, mezzanine financing, and buyouts in middle market companies. For fund of fund investments, it invests in mezzanine, venture capital, private equity, turnaround, secondary investments, real estate, and special situation funds. The firm invests in real estate investments. It also invest in technology, healthcare, education, natural resources, energy and essential consumer goods sectors, cleantech, and environment, community development, and financial empowerment.
HLNE (Hamilton Lane Incorporated) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $4.84B, a trailing P/E of 13.78, a beta of 1.19 versus the broader market, a 52-week range of 84.08-179.19, average daily share volume of 898K, a public-listing history dating back to 2017, approximately 700 full-time employees. These structural characteristics shape how HLNE stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.19 places HLNE roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. HLNE pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a cash-secured put on HLNE?
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 HLNE snapshot
As of May 15, 2026, spot at $85.64, ATM IV 61.80%, IV rank 70.64%, expected move 17.72%. The cash-secured put on HLNE 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 HLNE specifically: HLNE IV at 61.80% is rich versus its 1-year range, which favors premium-selling structures like a HLNE cash-secured put, with a market-implied 1-standard-deviation move of approximately 17.72% (roughly $15.17 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 HLNE expiries trade a higher absolute premium for lower per-day decay. Position sizing on HLNE should anchor to the underlying notional of $85.64 per share and to the trader's directional view on HLNE stock.
HLNE cash-secured put setup
The HLNE 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 HLNE near $85.64, the first option leg uses a $80.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed HLNE 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 HLNE shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $80.00 | $3.13 |
HLNE cash-secured put risk and reward
- Net Premium / Debit
- +$312.50
- Max Profit (per contract)
- $312.50
- Max Loss (per contract)
- -$7,686.50
- Breakeven(s)
- $76.88
- Risk / Reward Ratio
- 0.041
Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.
HLNE cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on HLNE. 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% | -$7,686.50 |
| $18.94 | -77.9% | -$5,793.06 |
| $37.88 | -55.8% | -$3,899.63 |
| $56.81 | -33.7% | -$2,006.19 |
| $75.75 | -11.6% | -$112.75 |
| $94.68 | +10.6% | +$312.50 |
| $113.62 | +32.7% | +$312.50 |
| $132.55 | +54.8% | +$312.50 |
| $151.48 | +76.9% | +$312.50 |
| $170.42 | +99.0% | +$312.50 |
When traders use cash-secured put on HLNE
Cash-secured puts on HLNE earn premium while a trader waits to acquire HLNE stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning HLNE.
HLNE thesis for this cash-secured put
The market-implied 1-standard-deviation range for HLNE extends from approximately $70.47 on the downside to $100.81 on the upside. A HLNE cash-secured put lets a trader earn premium while waiting to acquire HLNE 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 HLNE IV rank near 70.64% sits in the upper third of its 1-year distribution, which historically reverts; this raises the bar for premium-buying structures and lowers it for premium-selling structures on HLNE at 61.80%. As a Financial Services name, HLNE options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to HLNE-specific events.
HLNE 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. HLNE positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move HLNE alongside the broader basket even when HLNE-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on HLNE carry tail risk when realized volatility exceeds the implied move; review historical HLNE earnings reactions and macro stress periods before sizing. Always rebuild the position from current HLNE chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on HLNE?
- A cash-secured put on HLNE is the cash-secured put strategy applied to HLNE (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 HLNE stock trading near $85.64, the strikes shown on this page are snapped to the nearest listed HLNE chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are HLNE 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 HLNE cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 61.80%), the computed maximum profit is $312.50 per contract and the computed maximum loss is -$7,686.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a HLNE cash-secured put?
- The breakeven for the HLNE cash-secured put priced on this page is roughly $76.88 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 HLNE market-implied 1-standard-deviation expected move is approximately 17.72%; 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 HLNE?
- Cash-secured puts on HLNE earn premium while a trader waits to acquire HLNE stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning HLNE.
- How does current HLNE implied volatility affect this cash-secured put?
- HLNE ATM IV is at 61.80% with IV rank near 70.64%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.