INGR Cash-Secured Put Strategy
INGR (Ingredion Incorporated), in the Consumer Defensive sector, (Packaged Foods industry), listed on NYSE.
Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. It operates through four segments: North America; South America; Asia-Pacific; and Europe, Middle East and Africa. The company offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, and glucose syrup solids, as well as food-grade and industrial starches, biomaterials, and nutrition ingredients. It also provides edible corn oil; refined corn oil to packers of cooking oil and to producers of margarine, salad dressings, shortening, mayonnaise, and other foods; and corn gluten feed used as protein feed for chickens, pet food, and aquaculture, as well as fruit and vegetable products, such as concentrates, purees and essences, pulse proteins, and hydrocolloids systems and blends. The company's products are derived primarily from processing corn and other starch-based materials, such as tapioca, potato, and rice. It serves food, beverage, brewing, and animal nutrition industries.
INGR (Ingredion Incorporated) trades in the Consumer Defensive sector, specifically Packaged Foods, with a market capitalization of approximately $6.68B, a trailing P/E of 10.00, a beta of 0.63 versus the broader market, a 52-week range of 100.71-141.78, average daily share volume of 662K, a public-listing history dating back to 1997, approximately 11K full-time employees. These structural characteristics shape how INGR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.63 indicates INGR has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. The trailing P/E of 10.00 is on the value side, where IV often compresses outside event windows because forward growth expectations are already discounted into the share price. INGR 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 INGR?
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 INGR snapshot
As of May 15, 2026, spot at $103.13, ATM IV 8.10%, IV rank 0.00%, expected move 2.32%. The cash-secured put on INGR 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 INGR specifically: INGR IV at 8.10% is on the cheap side of its 1-year range, which means a premium-selling INGR cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 2.32% (roughly $2.39 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 INGR expiries trade a higher absolute premium for lower per-day decay. Position sizing on INGR should anchor to the underlying notional of $103.13 per share and to the trader's directional view on INGR stock.
INGR cash-secured put setup
The INGR 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 INGR near $103.13, the first option leg uses a $100.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed INGR 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 INGR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $100.00 | $1.03 |
INGR cash-secured put risk and reward
- Net Premium / Debit
- +$102.50
- Max Profit (per contract)
- $102.50
- Max Loss (per contract)
- -$9,896.50
- Breakeven(s)
- $98.98
- Risk / Reward Ratio
- 0.010
Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.
INGR cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on INGR. 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% | -$9,896.50 |
| $22.81 | -77.9% | -$7,616.35 |
| $45.61 | -55.8% | -$5,336.20 |
| $68.41 | -33.7% | -$3,056.05 |
| $91.22 | -11.6% | -$775.90 |
| $114.02 | +10.6% | +$102.50 |
| $136.82 | +32.7% | +$102.50 |
| $159.62 | +54.8% | +$102.50 |
| $182.42 | +76.9% | +$102.50 |
| $205.22 | +99.0% | +$102.50 |
When traders use cash-secured put on INGR
Cash-secured puts on INGR earn premium while a trader waits to acquire INGR stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning INGR.
INGR thesis for this cash-secured put
The market-implied 1-standard-deviation range for INGR extends from approximately $100.74 on the downside to $105.52 on the upside. A INGR cash-secured put lets a trader earn premium while waiting to acquire INGR 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 INGR IV rank near 0.00% 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 INGR at 8.10%. As a Consumer Defensive name, INGR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to INGR-specific events.
INGR 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. INGR positions also carry Consumer Defensive sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move INGR alongside the broader basket even when INGR-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on INGR carry tail risk when realized volatility exceeds the implied move; review historical INGR earnings reactions and macro stress periods before sizing. Always rebuild the position from current INGR chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on INGR?
- A cash-secured put on INGR is the cash-secured put strategy applied to INGR (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 INGR stock trading near $103.13, the strikes shown on this page are snapped to the nearest listed INGR chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are INGR 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 INGR cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 8.10%), the computed maximum profit is $102.50 per contract and the computed maximum loss is -$9,896.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a INGR cash-secured put?
- The breakeven for the INGR cash-secured put priced on this page is roughly $98.98 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 INGR market-implied 1-standard-deviation expected move is approximately 2.32%; 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 INGR?
- Cash-secured puts on INGR earn premium while a trader waits to acquire INGR stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning INGR.
- How does current INGR implied volatility affect this cash-secured put?
- INGR ATM IV is at 8.10% with IV rank near 0.00%, 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.