IART Cash-Secured Put Strategy

IART (Integra LifeSciences Holdings Corporation), in the Healthcare sector, (Medical - Devices industry), listed on NASDAQ.

Integra LifeSciences Holdings Corporation is a medical technology company focused on the creation, production, and global distribution of advanced surgical implants and instruments. These products are utilized across various medical fields, including neurosurgery, limb reconstruction, and general surgical procedures. The company operates through two primary business segments: Codman Specialty Surgical and Tissue Technologies. The Codman Specialty Surgical division offers a comprehensive range of neurosurgical and neuro-critical care products. This includes specialized equipment for tissue ablation, dural repair solutions, cerebral spinal fluid management systems, intracranial monitoring tools, and cranial stabilization devices. Additionally, this segment provides surgical headlamps, various instrumentation, and supports these offerings with asset management software, technical assistance, and after-market services.

IART (Integra LifeSciences Holdings Corporation) trades in the Healthcare sector, specifically Medical - Devices, with a market capitalization of approximately $1.46B, a beta of 1.25 versus the broader market, a 52-week range of 8.7-18.9, average daily share volume of 1.0M, a public-listing history dating back to 1995, approximately 4K full-time employees. These structural characteristics shape how IART stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.25 places IART 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 IART?

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 IART snapshot

As of June 29, 2026, spot at $18.70, ATM IV 53.50%, IV rank 11.09%, expected move 15.34%. The cash-secured put on IART 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 18-day expiry.

Why this cash-secured put structure on IART specifically: IART IV at 53.50% is on the cheap side of its 1-year range, which means a premium-selling IART cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 15.34% (roughly $2.87 on the underlying). The 18-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated IART expiries trade a higher absolute premium for lower per-day decay. Position sizing on IART should anchor to the underlying notional of $18.70 per share and to the trader's directional view on IART stock.

IART cash-secured put setup

The IART 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 IART near $18.70, the first option leg uses a $17.76 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed IART chain at a 18-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 IART shares for the stock leg in covered calls and collars).

ActionTypeStrike / BasisPremium (est)
Sell 1Put$17.76N/A

IART 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.

IART cash-secured put payoff curve

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

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

IART thesis for this cash-secured put

The market-implied 1-standard-deviation range for IART extends from approximately $15.83 on the downside to $21.57 on the upside. A IART cash-secured put lets a trader earn premium while waiting to acquire IART 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 IART IV rank near 11.09% 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 IART at 53.50%. As a Healthcare name, IART options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to IART-specific events.

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

Frequently asked questions

What is a cash-secured put on IART?
A cash-secured put on IART is the cash-secured put strategy applied to IART (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 IART stock trading near $18.70, the strikes shown on this page are snapped to the nearest listed IART chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are IART 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 IART cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 53.50%), 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 IART cash-secured put?
The breakeven for the IART 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 IART market-implied 1-standard-deviation expected move is approximately 15.34%; 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 IART?
Cash-secured puts on IART earn premium while a trader waits to acquire IART stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning IART.
How does current IART implied volatility affect this cash-secured put?
IART ATM IV is at 53.50% with IV rank near 11.09%, 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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