LASR Cash-Secured Put Strategy
LASR (nLIGHT, Inc.), in the Technology sector, (Semiconductors industry), listed on NASDAQ.
nLIGHT, Inc. designs, manufactures, and sells semiconductor and fiber lasers for industrial, microfabrication, and aerospace and defense applications. It operates in two segments, Laser Products and Advanced Development. The company also provides fiber amplifiers, and beam combination and control systems for use in high-energy laser systems in directed energy applications. It sells its products through direct sales force in the United States, China, South Korea, and European countries, as well as through various independent sales representatives and distributors in Asia, Europe, and South America. The company was formerly known as nLight Photonics Corporation and changed its name to nLIGHT, Inc. in January 2016. nLIGHT, Inc. was incorporated in 2000 and is headquartered in Camas, Washington.
LASR (nLIGHT, Inc.) trades in the Technology sector, specifically Semiconductors, with a market capitalization of approximately $4.54B, a beta of 2.34 versus the broader market, a 52-week range of 12.17-86.95, average daily share volume of 1.8M, a public-listing history dating back to 2018, approximately 800 full-time employees. These structural characteristics shape how LASR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.34 indicates LASR 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 LASR?
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 LASR snapshot
As of May 13, 2026, spot at $81.06, ATM IV 106.10%, IV rank 64.56%, expected move 30.42%. The cash-secured put on LASR 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 LASR specifically: LASR IV at 106.10% is mid-range versus its 1-year history, so the credit collected on a LASR cash-secured put sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 30.42% (roughly $24.66 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 LASR expiries trade a higher absolute premium for lower per-day decay. Position sizing on LASR should anchor to the underlying notional of $81.06 per share and to the trader's directional view on LASR stock.
LASR cash-secured put setup
The LASR 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 LASR near $81.06, the first option leg uses a $77.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed LASR 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 LASR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $77.00 | $9.70 |
LASR cash-secured put risk and reward
- Net Premium / Debit
- +$970.00
- Max Profit (per contract)
- $970.00
- Max Loss (per contract)
- -$6,729.00
- Breakeven(s)
- $67.30
- Risk / Reward Ratio
- 0.144
Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.
LASR cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on LASR. 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% | -$6,729.00 |
| $17.93 | -77.9% | -$4,936.83 |
| $35.85 | -55.8% | -$3,144.66 |
| $53.78 | -33.7% | -$1,352.49 |
| $71.70 | -11.6% | +$439.68 |
| $89.62 | +10.6% | +$970.00 |
| $107.54 | +32.7% | +$970.00 |
| $125.46 | +54.8% | +$970.00 |
| $143.38 | +76.9% | +$970.00 |
| $161.31 | +99.0% | +$970.00 |
When traders use cash-secured put on LASR
Cash-secured puts on LASR earn premium while a trader waits to acquire LASR stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning LASR.
LASR thesis for this cash-secured put
The market-implied 1-standard-deviation range for LASR extends from approximately $56.40 on the downside to $105.72 on the upside. A LASR cash-secured put lets a trader earn premium while waiting to acquire LASR 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 LASR IV rank near 64.56% is mid-range against its 1-year distribution, so the IV signal is neutral; the cash-secured put thesis on LASR should anchor more to the directional view and the expected-move geometry. As a Technology name, LASR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to LASR-specific events.
LASR 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. LASR positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move LASR alongside the broader basket even when LASR-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on LASR carry tail risk when realized volatility exceeds the implied move; review historical LASR earnings reactions and macro stress periods before sizing. Always rebuild the position from current LASR chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on LASR?
- A cash-secured put on LASR is the cash-secured put strategy applied to LASR (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 LASR stock trading near $81.06, the strikes shown on this page are snapped to the nearest listed LASR chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are LASR 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 LASR cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 106.10%), the computed maximum profit is $970.00 per contract and the computed maximum loss is -$6,729.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a LASR cash-secured put?
- The breakeven for the LASR cash-secured put priced on this page is roughly $67.30 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 LASR market-implied 1-standard-deviation expected move is approximately 30.42%; 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 LASR?
- Cash-secured puts on LASR earn premium while a trader waits to acquire LASR stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning LASR.
- How does current LASR implied volatility affect this cash-secured put?
- LASR ATM IV is at 106.10% with IV rank near 64.56%, 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.