KODK Cash-Secured Put Strategy

KODK (Eastman Kodak Company), in the Technology sector, (Hardware, Equipment & Parts industry), listed on NYSE.

Eastman Kodak Company supplies a wide array of hardware, software, consumable products, and professional services to a global customer base spanning the commercial printing, packaging, publishing, manufacturing, and entertainment industries. The company's diverse operations are organized into several key segments: The Traditional Printing division focuses on delivering digital offset plate and computer-to-plate imaging solutions. These are primarily utilized by commercial enterprises involved in general printing, direct mail campaigns, book publishing, newspaper and magazine production, and packaging. Its Digital Printing segment offers advanced electrophotographic printing systems, notably the ASCEND and NEXFINITY printers. It also features a comprehensive suite of PROSPER products, such as the PROSPER 6000 Press, Writing Systems, press systems, and various components, alongside its VERSEMARK product line and the PRINERGY workflow production software. The Advanced Materials and Chemicals segment is involved in industrial film and chemical manufacturing, solutions for the motion picture industry, and the development of cutting-edge materials and functional printing technologies.

KODK (Eastman Kodak Company) trades in the Technology sector, specifically Hardware, Equipment & Parts, with a market capitalization of approximately $934.0M, a beta of 1.53 versus the broader market, a 52-week range of 4.94-14.87, average daily share volume of 1.4M, a public-listing history dating back to 2013, approximately 4K full-time employees. These structural characteristics shape how KODK stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.53 indicates KODK 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 KODK?

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 KODK snapshot

As of June 30, 2026, spot at $9.35, ATM IV 61.90%, IV rank 25.83%, expected move 17.75%. The cash-secured put on KODK 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 17-day expiry.

Why this cash-secured put structure on KODK specifically: KODK IV at 61.90% is on the cheap side of its 1-year range, which means a premium-selling KODK cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 17.75% (roughly $1.66 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated KODK expiries trade a higher absolute premium for lower per-day decay. Position sizing on KODK should anchor to the underlying notional of $9.35 per share and to the trader's directional view on KODK stock.

KODK cash-secured put setup

The KODK 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 KODK near $9.35, the first option leg uses a $8.88 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed KODK chain at a 17-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 KODK shares for the stock leg in covered calls and collars).

ActionTypeStrike / BasisPremium (est)
Sell 1Put$8.88N/A

KODK 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.

KODK cash-secured put payoff curve

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

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

KODK thesis for this cash-secured put

The market-implied 1-standard-deviation range for KODK extends from approximately $7.69 on the downside to $11.01 on the upside. A KODK cash-secured put lets a trader earn premium while waiting to acquire KODK 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 KODK IV rank near 25.83% 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 KODK at 61.90%. As a Technology name, KODK options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to KODK-specific events.

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

Frequently asked questions

What is a cash-secured put on KODK?
A cash-secured put on KODK is the cash-secured put strategy applied to KODK (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 KODK stock trading near $9.35, the strikes shown on this page are snapped to the nearest listed KODK chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are KODK 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 KODK cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 61.90%), 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 KODK cash-secured put?
The breakeven for the KODK 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 KODK market-implied 1-standard-deviation expected move is approximately 17.75%; 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 KODK?
Cash-secured puts on KODK earn premium while a trader waits to acquire KODK stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning KODK.
How does current KODK implied volatility affect this cash-secured put?
KODK ATM IV is at 61.90% with IV rank near 25.83%, 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.

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