KOPN Cash-Secured Put Strategy
KOPN (Kopin Corp.), in the Technology sector, (Semiconductors industry), listed on NASDAQ.
Kopin Corporation, together with its subsidiaries, develops, manufactures, and sells microdisplays, subassemblies, and related components for defense, enterprise, industrial, and consumer products in the United States, the Asia-Pacific, Europe, and internationally. It offers miniature active-matrix liquid crystal displays, ferroelectric liquid crystal on silicon displays, organic light emitting diode displays, MicroLED display technologies, application specific optical solutions, backlights, and optical lenses. The company’s products are used for soldier thermal weapon rifle sights, avionic fixed and rotary wing pilot helmets, armored vehicle targeting systems, and training and simulation headsets; industrial and medical headsets; 3D optical inspection systems; and consumer augmented reality and virtual reality wearable headsets systems. Kopin Corporation was incorporated in 1984 and is headquartered in Westborough, Massachusetts.
KOPN (Kopin Corp.) trades in the Technology sector, specifically Semiconductors, with a market capitalization of approximately $707.8M, a trailing P/E of 373.64, a beta of 3.44 versus the broader market, a 52-week range of 1.44-6.61, average daily share volume of 8.9M, a public-listing history dating back to 1992, approximately 181 full-time employees. These structural characteristics shape how KOPN stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 3.44 indicates KOPN has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. The trailing P/E of 373.64 is on the rich side, which tends to correlate with higher earnings-window IV expansion as the market debates whether forward growth supports the multiple.
What is a cash-secured put on KOPN?
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 KOPN snapshot
As of June 29, 2026, spot at $4.31, ATM IV 121.66%, IV rank 23.05%, expected move 34.88%. The cash-secured put on KOPN 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 25-day expiry.
Why this cash-secured put structure on KOPN specifically: KOPN IV at 121.66% is on the cheap side of its 1-year range, which means a premium-selling KOPN cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 34.88% (roughly $1.50 on the underlying). The 25-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated KOPN expiries trade a higher absolute premium for lower per-day decay. Position sizing on KOPN should anchor to the underlying notional of $4.31 per share and to the trader's directional view on KOPN stock.
KOPN cash-secured put setup
The KOPN 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 KOPN near $4.31, the first option leg uses a $4.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed KOPN chain at a 25-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 KOPN shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $4.00 | $0.38 |
KOPN cash-secured put risk and reward
- Net Premium / Debit
- +$37.50
- Max Profit (per contract)
- $37.50
- Max Loss (per contract)
- -$361.50
- Breakeven(s)
- $3.63
- Risk / Reward Ratio
- 0.104
Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.
KOPN cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on KOPN. 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 | -99.8% | -$361.50 |
| $0.96 | -77.7% | -$266.31 |
| $1.91 | -55.6% | -$171.13 |
| $2.87 | -33.5% | -$75.94 |
| $3.82 | -11.4% | +$19.24 |
| $4.77 | +10.7% | +$37.50 |
| $5.72 | +32.7% | +$37.50 |
| $6.67 | +54.8% | +$37.50 |
| $7.62 | +76.9% | +$37.50 |
| $8.58 | +99.0% | +$37.50 |
When traders use cash-secured put on KOPN
Cash-secured puts on KOPN earn premium while a trader waits to acquire KOPN stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning KOPN.
KOPN thesis for this cash-secured put
The market-implied 1-standard-deviation range for KOPN extends from approximately $2.81 on the downside to $5.81 on the upside. A KOPN cash-secured put lets a trader earn premium while waiting to acquire KOPN 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 KOPN IV rank near 23.05% 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 KOPN at 121.66%. As a Technology name, KOPN options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to KOPN-specific events.
KOPN 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. KOPN positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move KOPN alongside the broader basket even when KOPN-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on KOPN carry tail risk when realized volatility exceeds the implied move; review historical KOPN earnings reactions and macro stress periods before sizing. Always rebuild the position from current KOPN chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on KOPN?
- A cash-secured put on KOPN is the cash-secured put strategy applied to KOPN (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 KOPN stock trading near $4.31, the strikes shown on this page are snapped to the nearest listed KOPN chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are KOPN 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 KOPN cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 121.66%), the computed maximum profit is $37.50 per contract and the computed maximum loss is -$361.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a KOPN cash-secured put?
- The breakeven for the KOPN cash-secured put priced on this page is roughly $3.63 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 KOPN market-implied 1-standard-deviation expected move is approximately 34.88%; 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 KOPN?
- Cash-secured puts on KOPN earn premium while a trader waits to acquire KOPN stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning KOPN.
- How does current KOPN implied volatility affect this cash-secured put?
- KOPN ATM IV is at 121.66% with IV rank near 23.05%, 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.