MANH Cash-Secured Put Strategy
MANH (Manhattan Associates, Inc.), in the Technology sector, (Software - Application industry), listed on NASDAQ.
Manhattan Associates, Inc. develops comprehensive software solutions to manage and optimize supply chains, inventory, and omni-channel operations. Their product portfolio features Manhattan SCALE, a suite of logistics execution tools covering aspects like trading partner management, yard optimization, warehouse management, and transportation execution. Additionally, they offer Manhattan Active, which provides integrated enterprise and in-store omni-channel solutions. The company also supplies specialized solutions for inventory optimization, planning, and allocation. Supporting these offerings are a range of services, including ongoing maintenance (customer support and software enhancements), professional services (solution planning, implementation, and consulting), and training and change management programs. Beyond software, Manhattan Associates also resells complementary hardware such as computer equipment, radio frequency (RF) terminal networks, RFID readers, barcode printers and scanners, and other peripherals.
MANH (Manhattan Associates, Inc.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $8.16B, a trailing P/E of 37.98, a beta of 0.96 versus the broader market, a 52-week range of 119.06-247.22, average daily share volume of 664K, a public-listing history dating back to 1998, approximately 5K full-time employees. These structural characteristics shape how MANH stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.96 places MANH roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 37.98 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 MANH?
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 MANH snapshot
As of June 29, 2026, spot at $137.45, ATM IV 53.00%, IV rank 61.45%, expected move 15.19%. The cash-secured put on MANH 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 18-day expiry.
Why this cash-secured put structure on MANH specifically: MANH IV at 53.00% is mid-range versus its 1-year history, so the credit collected on a MANH cash-secured put sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 15.19% (roughly $20.88 on the underlying). The 18-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated MANH expiries trade a higher absolute premium for lower per-day decay. Position sizing on MANH should anchor to the underlying notional of $137.45 per share and to the trader's directional view on MANH stock.
MANH cash-secured put setup
The MANH 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 MANH near $137.45, the first option leg uses a $130.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed MANH chain at a 18-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 MANH shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $130.00 | $3.38 |
MANH cash-secured put risk and reward
- Net Premium / Debit
- +$337.50
- Max Profit (per contract)
- $337.50
- Max Loss (per contract)
- -$12,661.50
- Breakeven(s)
- $126.63
- Risk / Reward Ratio
- 0.027
Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.
MANH cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on MANH. 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% | -$12,661.50 |
| $30.40 | -77.9% | -$9,622.52 |
| $60.79 | -55.8% | -$6,583.53 |
| $91.18 | -33.7% | -$3,544.55 |
| $121.57 | -11.6% | -$505.56 |
| $151.96 | +10.6% | +$337.50 |
| $182.35 | +32.7% | +$337.50 |
| $212.74 | +54.8% | +$337.50 |
| $243.13 | +76.9% | +$337.50 |
| $273.52 | +99.0% | +$337.50 |
When traders use cash-secured put on MANH
Cash-secured puts on MANH earn premium while a trader waits to acquire MANH stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning MANH.
MANH thesis for this cash-secured put
The market-implied 1-standard-deviation range for MANH extends from approximately $116.57 on the downside to $158.33 on the upside. A MANH cash-secured put lets a trader earn premium while waiting to acquire MANH 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 MANH IV rank near 61.45% is mid-range against its 1-year distribution, so the IV signal is neutral; the cash-secured put thesis on MANH should anchor more to the directional view and the expected-move geometry. As a Technology name, MANH options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to MANH-specific events.
MANH 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. MANH positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move MANH alongside the broader basket even when MANH-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on MANH carry tail risk when realized volatility exceeds the implied move; review historical MANH earnings reactions and macro stress periods before sizing. Always rebuild the position from current MANH chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on MANH?
- A cash-secured put on MANH is the cash-secured put strategy applied to MANH (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 MANH stock trading near $137.45, the strikes shown on this page are snapped to the nearest listed MANH chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are MANH 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 MANH cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 53.00%), the computed maximum profit is $337.50 per contract and the computed maximum loss is -$12,661.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a MANH cash-secured put?
- The breakeven for the MANH cash-secured put priced on this page is roughly $126.63 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 MANH market-implied 1-standard-deviation expected move is approximately 15.19%; 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 MANH?
- Cash-secured puts on MANH earn premium while a trader waits to acquire MANH stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning MANH.
- How does current MANH implied volatility affect this cash-secured put?
- MANH ATM IV is at 53.00% with IV rank near 61.45%, 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.