JOBY Cash-Secured Put Strategy
JOBY (Joby Aviation, Inc.), in the Industrials sector, (Airlines, Airports & Air Services industry), listed on NYSE.
Joby Aviation, Inc., a vertically integrated air mobility company, engages in building an electric vertical takeoff and landing aircraft optimized to deliver air transportation as a service. It intends to build an aerial ridesharing service. The company was founded in 2009 and is headquartered in Santa Cruz, California.
JOBY (Joby Aviation, Inc.) trades in the Industrials sector, specifically Airlines, Airports & Air Services, with a market capitalization of approximately $10.88B, a beta of 2.61 versus the broader market, a 52-week range of 6.42-20.95, average daily share volume of 25.8M, a public-listing history dating back to 2020, approximately 2K full-time employees. These structural characteristics shape how JOBY stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.61 indicates JOBY 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 JOBY?
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 JOBY snapshot
As of May 15, 2026, spot at $10.41, ATM IV 80.14%, IV rank 38.34%, expected move 22.97%. The cash-secured put on JOBY 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 28-day expiry.
Why this cash-secured put structure on JOBY specifically: JOBY IV at 80.14% is mid-range versus its 1-year history, so the credit collected on a JOBY cash-secured put sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 22.97% (roughly $2.39 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 JOBY expiries trade a higher absolute premium for lower per-day decay. Position sizing on JOBY should anchor to the underlying notional of $10.41 per share and to the trader's directional view on JOBY stock.
JOBY cash-secured put setup
The JOBY 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 JOBY near $10.41, the first option leg uses a $10.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed JOBY 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 JOBY shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $10.00 | $0.70 |
JOBY cash-secured put risk and reward
- Net Premium / Debit
- +$69.50
- Max Profit (per contract)
- $69.50
- Max Loss (per contract)
- -$929.50
- Breakeven(s)
- $9.31
- Risk / Reward Ratio
- 0.075
Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.
JOBY cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on JOBY. 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 | -99.9% | -$929.50 |
| $2.31 | -77.8% | -$699.44 |
| $4.61 | -55.7% | -$469.38 |
| $6.91 | -33.6% | -$239.32 |
| $9.21 | -11.5% | -$9.26 |
| $11.51 | +10.6% | +$69.50 |
| $13.81 | +32.7% | +$69.50 |
| $16.11 | +54.8% | +$69.50 |
| $18.41 | +76.9% | +$69.50 |
| $20.72 | +99.0% | +$69.50 |
When traders use cash-secured put on JOBY
Cash-secured puts on JOBY earn premium while a trader waits to acquire JOBY stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning JOBY.
JOBY thesis for this cash-secured put
The market-implied 1-standard-deviation range for JOBY extends from approximately $8.02 on the downside to $12.80 on the upside. A JOBY cash-secured put lets a trader earn premium while waiting to acquire JOBY 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 JOBY IV rank near 38.34% is mid-range against its 1-year distribution, so the IV signal is neutral; the cash-secured put thesis on JOBY should anchor more to the directional view and the expected-move geometry. As a Industrials name, JOBY options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to JOBY-specific events.
JOBY 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. JOBY positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move JOBY alongside the broader basket even when JOBY-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on JOBY carry tail risk when realized volatility exceeds the implied move; review historical JOBY earnings reactions and macro stress periods before sizing. Always rebuild the position from current JOBY chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on JOBY?
- A cash-secured put on JOBY is the cash-secured put strategy applied to JOBY (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 JOBY stock trading near $10.41, the strikes shown on this page are snapped to the nearest listed JOBY chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are JOBY 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 JOBY cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 80.14%), the computed maximum profit is $69.50 per contract and the computed maximum loss is -$929.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a JOBY cash-secured put?
- The breakeven for the JOBY cash-secured put priced on this page is roughly $9.31 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 JOBY market-implied 1-standard-deviation expected move is approximately 22.97%; 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 JOBY?
- Cash-secured puts on JOBY earn premium while a trader waits to acquire JOBY stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning JOBY.
- How does current JOBY implied volatility affect this cash-secured put?
- JOBY ATM IV is at 80.14% with IV rank near 38.34%, 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.