INDI Cash-Secured Put Strategy

INDI (indie Semiconductor, Inc.), in the Technology sector, (Semiconductors industry), listed on NASDAQ.

indie Semiconductor, Inc. provides automotive semiconductors and software solutions for advanced driver assistance systems, connected car, user experience, and electrification applications. It offers devices for a multitude of automotive applications spanning ultrasound for parking assistance, in cabin wireless charging, infotainment and LED lighting for enhancing the user experience, and telematics and cloud access for connectivity; and photonic components on various technology platforms, including fiber bragg gratings, low noise lasers, athermal and tunable packaging, photonic integration, and low noise and high-speed electronics for the laser systems, optical sensing, and optical communication markets. The company was incorporated in 2007 and is headquartered in Aliso Viejo, California.

INDI (indie Semiconductor, Inc.) trades in the Technology sector, specifically Semiconductors, with a market capitalization of approximately $950.2M, a beta of 2.73 versus the broader market, a 52-week range of 2.29-6.05, average daily share volume of 5.5M, a public-listing history dating back to 2019, approximately 920 full-time employees. These structural characteristics shape how INDI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 2.73 indicates INDI has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.

What is a cash-secured put on INDI?

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 INDI snapshot

As of May 15, 2026, spot at $4.21, ATM IV 90.50%, IV rank 35.46%, expected move 25.95%. The cash-secured put on INDI 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 INDI specifically: INDI IV at 90.50% is mid-range versus its 1-year history, so the credit collected on a INDI cash-secured put sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 25.95% (roughly $1.09 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 INDI expiries trade a higher absolute premium for lower per-day decay. Position sizing on INDI should anchor to the underlying notional of $4.21 per share and to the trader's directional view on INDI stock.

INDI cash-secured put setup

The INDI 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 INDI near $4.21, the first option leg uses a $4.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed INDI 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 INDI shares for the stock leg in covered calls and collars).

ActionTypeStrike / BasisPremium (est)
Sell 1Put$4.00N/A

INDI 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.

INDI cash-secured put payoff curve

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

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

INDI thesis for this cash-secured put

The market-implied 1-standard-deviation range for INDI extends from approximately $3.12 on the downside to $5.30 on the upside. A INDI cash-secured put lets a trader earn premium while waiting to acquire INDI 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 INDI IV rank near 35.46% is mid-range against its 1-year distribution, so the IV signal is neutral; the cash-secured put thesis on INDI should anchor more to the directional view and the expected-move geometry. As a Technology name, INDI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to INDI-specific events.

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

Frequently asked questions

What is a cash-secured put on INDI?
A cash-secured put on INDI is the cash-secured put strategy applied to INDI (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 INDI stock trading near $4.21, the strikes shown on this page are snapped to the nearest listed INDI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are INDI 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 INDI cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 90.50%), 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 INDI cash-secured put?
The breakeven for the INDI 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 INDI market-implied 1-standard-deviation expected move is approximately 25.95%; 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 INDI?
Cash-secured puts on INDI earn premium while a trader waits to acquire INDI stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning INDI.
How does current INDI implied volatility affect this cash-secured put?
INDI ATM IV is at 90.50% with IV rank near 35.46%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.

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