JKHY Cash-Secured Put Strategy
JKHY (Jack Henry & Associates, Inc.), in the Technology sector, (Information Technology Services industry), listed on NASDAQ.
Jack Henry & Associates, Inc. operates as a financial technology company that connects people and financial institutions through technology solutions and payment processing services. It operates through four segments: Core, Payments, Complementary, and Corporate and Other. The Core segment provides core information processing platforms to banks and credit unions, which consist of integrated applications required to process deposit, loan, general ledger transactions, and maintain centralized accountholder information. The Payments segment offers secure payment processing tools and services, including ATM, automated clearing house origination and remote deposit capture processing, and risk management products and services, as well as debit and credit card processing services, and online and mobile bill pay solutions. The Complementary segment provides software, and hosted processing platforms and services comprising digital/mobile banking, treasury, online account opening, fraud/anti-money laundering, and lending/deposit solutions. The Corporate and Other segment offers hardware and other products.
JKHY (Jack Henry & Associates, Inc.) trades in the Technology sector, specifically Information Technology Services, with a market capitalization of approximately $10.82B, a trailing P/E of 21.12, a beta of 0.55 versus the broader market, a 52-week range of 121.04-193.39, average daily share volume of 1.3M, a public-listing history dating back to 1985, approximately 7K full-time employees. These structural characteristics shape how JKHY stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.55 indicates JKHY has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. JKHY 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 JKHY?
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.
JKHY snapshot
As of August 14, 2026, spot at $153.28, ATM IV 33.00%, IV rank 64.66%, expected move 9.46%. The cash-secured put on JKHY 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 35-day expiry.
Why this cash-secured put structure on JKHY specifically: JKHY IV at 33.00% is mid-range versus its 1-year history, so the credit collected on a JKHY cash-secured put sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 9.46% (roughly $14.50 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated JKHY expiries trade a higher absolute premium for lower per-day decay. Position sizing on JKHY should anchor to the underlying notional of $153.28 per share and to the trader's directional view on JKHY stock.
JKHY cash-secured put setup
The JKHY 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 JKHY at $153.28 on that close, the first option leg uses a $145.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed JKHY chain at a 35-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 JKHY shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $145.00 | $2.90 |
JKHY cash-secured put risk and reward
- Net Premium / Debit
- +$290.00
- Max Profit (per contract)
- $290.00
- Max Loss (per contract)
- -$14,209.00
- Breakeven(s)
- $142.10
- Risk / Reward Ratio
- 0.020
Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.
JKHY cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on JKHY. 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% | -$14,209.00 |
| $33.90 | -77.9% | -$10,820.01 |
| $67.79 | -55.8% | -$7,431.01 |
| $101.68 | -33.7% | -$4,042.02 |
| $135.57 | -11.6% | -$653.02 |
| $169.46 | +10.6% | +$290.00 |
| $203.35 | +32.7% | +$290.00 |
| $237.24 | +54.8% | +$290.00 |
| $271.13 | +76.9% | +$290.00 |
| $305.02 | +99.0% | +$290.00 |
When traders use cash-secured put on JKHY
Cash-secured puts on JKHY earn premium while a trader waits to acquire JKHY stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning JKHY.
JKHY thesis for this cash-secured put
The market-implied 1-standard-deviation range for JKHY extends from approximately $138.78 on the downside to $167.78 on the upside. A JKHY cash-secured put lets a trader earn premium while waiting to acquire JKHY 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 JKHY IV rank near 64.66% is mid-range against its 1-year distribution, so the IV signal is neutral; the cash-secured put thesis on JKHY should anchor more to the directional view and the expected-move geometry. As a Technology name, JKHY options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to JKHY-specific events.
JKHY 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. JKHY positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move JKHY alongside the broader basket even when JKHY-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on JKHY carry tail risk when realized volatility exceeds the implied move; review historical JKHY earnings reactions and macro stress periods before sizing. Always rebuild the position from current JKHY chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on JKHY?
- A cash-secured put on JKHY is the cash-secured put strategy applied to JKHY (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 JKHY stock at $153.28 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed JKHY chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are JKHY 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 JKHY cash-secured put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 33.00%), the computed maximum profit is $290.00 per contract and the computed maximum loss is -$14,209.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a JKHY cash-secured put?
- The breakeven for the JKHY cash-secured put priced on this page is roughly $142.10 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 JKHY market-implied 1-standard-deviation expected move in the same options snapshot is approximately 9.46%; 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 JKHY?
- Cash-secured puts on JKHY earn premium while a trader waits to acquire JKHY stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning JKHY.
- How does current JKHY implied volatility affect this cash-secured put?
- JKHY ATM IV is at 33.00% with IV rank near 64.66%, 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.