KIM Cash-Secured Put Strategy

KIM (Kimco Realty Corporation), in the Real Estate sector, (REIT - Retail industry), listed on NYSE.

Kimco Realty Corp. (NYSE:KIM) is a real estate investment trust (REIT) headquartered in Jericho, N.Y. that is one of North America's largest publicly traded owners and operators of open-air, grocery-anchored shopping centers and mixed-use assets. As of September 30, 2020, the company owned interests in 400 U.S. shopping centers and mixed-use assets comprising 70 million square feet of gross leasable space primarily concentrated in the top major metropolitan markets. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for more than 60 years.

KIM (Kimco Realty Corporation) trades in the Real Estate sector, specifically REIT - Retail, with a market capitalization of approximately $15.56B, a trailing P/E of 25.16, a beta of 0.99 versus the broader market, a 52-week range of 19.76-24.31, average daily share volume of 5.5M, a public-listing history dating back to 1991, approximately 717 full-time employees. These structural characteristics shape how KIM stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.99 places KIM roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. KIM 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 KIM?

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 KIM snapshot

As of May 15, 2026, spot at $22.98, ATM IV 193.70%, IV rank 100.00%, expected move 55.53%. The cash-secured put on KIM 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 KIM specifically: KIM IV at 193.70% is rich versus its 1-year range, which favors premium-selling structures like a KIM cash-secured put, with a market-implied 1-standard-deviation move of approximately 55.53% (roughly $12.76 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 KIM expiries trade a higher absolute premium for lower per-day decay. Position sizing on KIM should anchor to the underlying notional of $22.98 per share and to the trader's directional view on KIM stock.

KIM cash-secured put setup

The KIM 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 KIM near $22.98, the first option leg uses a $21.83 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed KIM 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 KIM shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Put	$21.83	N/A

KIM 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.

KIM cash-secured put payoff curve

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

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

KIM thesis for this cash-secured put

The market-implied 1-standard-deviation range for KIM extends from approximately $10.22 on the downside to $35.74 on the upside. A KIM cash-secured put lets a trader earn premium while waiting to acquire KIM 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 KIM IV rank near 100.00% sits in the upper third of its 1-year distribution, which historically reverts; this raises the bar for premium-buying structures and lowers it for premium-selling structures on KIM at 193.70%. As a Real Estate name, KIM options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to KIM-specific events.

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

Frequently asked questions

What is a cash-secured put on KIM?: A cash-secured put on KIM is the cash-secured put strategy applied to KIM (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 KIM stock trading near $22.98, the strikes shown on this page are snapped to the nearest listed KIM chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are KIM 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 KIM cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 193.70%), 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 KIM cash-secured put?: The breakeven for the KIM 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 KIM market-implied 1-standard-deviation expected move is approximately 55.53%; 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 KIM?: Cash-secured puts on KIM earn premium while a trader waits to acquire KIM stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning KIM.
How does current KIM implied volatility affect this cash-secured put?: KIM ATM IV is at 193.70% with IV rank near 100.00%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.