LAMR Cash-Secured Put Strategy
LAMR (Lamar Advertising Company), in the Real Estate sector, (REIT - Specialty industry), listed on NASDAQ.
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with over 352,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day. In addition to its more traditional out-of-home inventory, Lamar is proud to offer its customers the largest network of digital billboards in the United States with approximately 3,800 displays.
LAMR (Lamar Advertising Company) trades in the Real Estate sector, specifically REIT - Specialty, with a market capitalization of approximately $14.88B, a trailing P/E of 27.04, a beta of 1.21 versus the broader market, a 52-week range of 113.05-158.69, average daily share volume of 622K, a public-listing history dating back to 1996, approximately 4K full-time employees. These structural characteristics shape how LAMR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.21 places LAMR roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. LAMR 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 LAMR?
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 LAMR snapshot
As of May 13, 2026, spot at $145.58, ATM IV 25.10%, IV rank 36.47%, expected move 7.20%. The cash-secured put on LAMR 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 LAMR specifically: LAMR IV at 25.10% is mid-range versus its 1-year history, so the credit collected on a LAMR cash-secured put sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 7.20% (roughly $10.48 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 LAMR expiries trade a higher absolute premium for lower per-day decay. Position sizing on LAMR should anchor to the underlying notional of $145.58 per share and to the trader's directional view on LAMR stock.
LAMR cash-secured put setup
The LAMR 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 LAMR near $145.58, the first option leg uses a $140.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed LAMR 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 LAMR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $140.00 | $2.43 |
LAMR cash-secured put risk and reward
- Net Premium / Debit
- +$242.50
- Max Profit (per contract)
- $242.50
- Max Loss (per contract)
- -$13,756.50
- Breakeven(s)
- $137.58
- Risk / Reward Ratio
- 0.018
Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.
LAMR cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on LAMR. 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% | -$13,756.50 |
| $32.20 | -77.9% | -$10,537.76 |
| $64.38 | -55.8% | -$7,319.01 |
| $96.57 | -33.7% | -$4,100.27 |
| $128.76 | -11.6% | -$881.53 |
| $160.95 | +10.6% | +$242.50 |
| $193.13 | +32.7% | +$242.50 |
| $225.32 | +54.8% | +$242.50 |
| $257.51 | +76.9% | +$242.50 |
| $289.70 | +99.0% | +$242.50 |
When traders use cash-secured put on LAMR
Cash-secured puts on LAMR earn premium while a trader waits to acquire LAMR stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning LAMR.
LAMR thesis for this cash-secured put
The market-implied 1-standard-deviation range for LAMR extends from approximately $135.10 on the downside to $156.06 on the upside. A LAMR cash-secured put lets a trader earn premium while waiting to acquire LAMR 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 LAMR IV rank near 36.47% is mid-range against its 1-year distribution, so the IV signal is neutral; the cash-secured put thesis on LAMR should anchor more to the directional view and the expected-move geometry. As a Real Estate name, LAMR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to LAMR-specific events.
LAMR 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. LAMR positions also carry Real Estate sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move LAMR alongside the broader basket even when LAMR-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on LAMR carry tail risk when realized volatility exceeds the implied move; review historical LAMR earnings reactions and macro stress periods before sizing. Always rebuild the position from current LAMR chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on LAMR?
- A cash-secured put on LAMR is the cash-secured put strategy applied to LAMR (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 LAMR stock trading near $145.58, the strikes shown on this page are snapped to the nearest listed LAMR chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are LAMR 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 LAMR cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 25.10%), the computed maximum profit is $242.50 per contract and the computed maximum loss is -$13,756.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a LAMR cash-secured put?
- The breakeven for the LAMR cash-secured put priced on this page is roughly $137.58 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 LAMR market-implied 1-standard-deviation expected move is approximately 7.20%; 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 LAMR?
- Cash-secured puts on LAMR earn premium while a trader waits to acquire LAMR stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning LAMR.
- How does current LAMR implied volatility affect this cash-secured put?
- LAMR ATM IV is at 25.10% with IV rank near 36.47%, 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.