How are IBRX 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 IBRX cash-secured put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 71.40%), the computed maximum profit is $32.50 per contract and the computed maximum loss is -$666.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a IBRX cash-secured put?

The breakeven for the IBRX cash-secured put priced on this page is roughly $6.68 at expiration, derived from the August 14, 2026 end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The IBRX market-implied 1-standard-deviation expected move in the same options snapshot is approximately 20.47%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current IBRX implied volatility affect this cash-secured put?

IBRX ATM IV is at 71.40% with IV rank near 27.86%, 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.

IBRX Cash-Secured Put Strategy

IBRX (ImmunityBio, Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.

ImmunityBio, Inc. is a clinical-stage biotechnology firm, founded in 2014 and based in San Diego, California. The company is focused on developing groundbreaking therapies and vaccines designed to treat a wide array of cancers and infectious diseases. Its innovative approach relies on a comprehensive suite of immunotherapy and cell therapy platforms. These advanced technologies include novel antibody-cytokine fusion proteins, synthetically engineered immunomodulators, cutting-edge vaccine technologies, natural killer (NK) cell therapies, and strategies that harness the adaptive (T-cell) immune system. ImmunityBio currently has several therapeutic candidates in advanced clinical development, with agents undergoing Phase II or III trials. These investigational treatments are aimed at various liquid and solid tumors, such as bladder, pancreatic, and lung cancers, as well as significant infectious pathogens including SARS-CoV-2 and HIV.

IBRX (ImmunityBio, Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $8.11B, a beta of 0.13 versus the broader market, a 52-week range of 1.95-12.43, average daily share volume of 13.0M, a public-listing history dating back to 2015, approximately 688 full-time employees. These structural characteristics shape how IBRX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.13 indicates IBRX 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 IBRX?

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.

IBRX snapshot

As of August 14, 2026, spot at $7.54, ATM IV 71.40%, IV rank 27.86%, expected move 20.47%. The cash-secured put on IBRX below is built from the August 14, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 28-day expiry.

Why this cash-secured put structure on IBRX specifically: IBRX IV at 71.40% is on the cheap side of its 1-year range, which means a premium-selling IBRX cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 20.47% (roughly $1.54 on the underlying). The 28-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated IBRX expiries trade a higher absolute premium for lower per-day decay. Position sizing on IBRX should anchor to the underlying notional of $7.54 per share and to the trader's directional view on IBRX stock.

IBRX cash-secured put setup

The IBRX cash-secured put below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With IBRX at $7.54 on that close, the first option leg uses a $7.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed IBRX chain at a 28-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 IBRX shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Put	$7.00	$0.33

IBRX cash-secured put risk and reward

Net Premium / Debit: +$32.50
Max Profit (per contract): $32.50
Max Loss (per contract): -$666.50
Breakeven(s): $6.68
Risk / Reward Ratio: 0.049

Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.

IBRX cash-secured put payoff curve

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

P&L at expiration across the modeled underlying-price range. Green shading marks profitable regions, red shading marks loss regions. Dotted purple verticals mark breakevens; the solid dark vertical marks current spot.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-99.9%	-$666.50
$1.68	-77.8%	-$499.90
$3.34	-55.7%	-$333.29
$5.01	-33.6%	-$166.69
$6.67	-11.5%	-$0.09
$8.34	+10.6%	+$32.50
$10.01	+32.7%	+$32.50
$11.67	+54.8%	+$32.50
$13.34	+76.9%	+$32.50
$15.00	+99.0%	+$32.50

When traders use cash-secured put on IBRX

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

IBRX thesis for this cash-secured put

The market-implied 1-standard-deviation range for IBRX extends from approximately $6.00 on the downside to $9.08 on the upside. A IBRX cash-secured put lets a trader earn premium while waiting to acquire IBRX 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 IBRX IV rank near 27.86% 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 IBRX at 71.40%. As a Healthcare name, IBRX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to IBRX-specific events.

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

Frequently asked questions

What is a cash-secured put on IBRX?: A cash-secured put on IBRX is the cash-secured put strategy applied to IBRX (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 IBRX stock at $7.54 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed IBRX chain strike and the premiums come straight from that session's bid/ask midpoint.
How are IBRX 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 IBRX cash-secured put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 71.40%), the computed maximum profit is $32.50 per contract and the computed maximum loss is -$666.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a IBRX cash-secured put?: The breakeven for the IBRX cash-secured put priced on this page is roughly $6.68 at expiration, derived from the August 14, 2026 end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The IBRX market-implied 1-standard-deviation expected move in the same options snapshot is approximately 20.47%; 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 IBRX?: Cash-secured puts on IBRX earn premium while a trader waits to acquire IBRX stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning IBRX.
How does current IBRX implied volatility affect this cash-secured put?: IBRX ATM IV is at 71.40% with IV rank near 27.86%, 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.