MTRX Cash-Secured Put Strategy

MTRX (Matrix Service Company), in the Industrials sector, (Engineering & Construction industry), listed on NASDAQ.

Matrix Service Company provides engineering, fabrication, infrastructure, construction, and maintenance services primarily to the oil, gas, power, petrochemical, industrial, agricultural, mining, and minerals markets in the United States, Canada, South Korea, Australia, and internationally. It operates through three segments: Utility and Power Infrastructure, Process and Industrial Facilities, and Storage and Terminal Solutions. The Utility and Power Infrastructure segment offers power delivery services, including construction of new substations, upgrades of existing substations, transmission and distribution line installations, distribution upgrades, and maintenance; and emergency and storm restoration services. This segment also provides construction and maintenance services to combined cycle plants and other natural gas fired power stations. The Process and Industrial Facilities segment engages in the crude oil refining; processing, fractionating, and marketing of natural gas and natural gas liquids; and offers plant maintenance, turnarounds, engineering, industrial cleaning services, and capital construction service. The Storage and Terminal Solutions segment undertakes work related to aboveground storage tanks and terminals; engineering, fabrication and construction, and maintenance and repair, which include planned and emergency services; and liquefied natural gas, liquid nitrogen/liquid oxygen, liquid petroleum, hydrogen, and other specialty vessels, which comprise spheres, as well as marine structures, and truck and rail loading/offloading facilities.

MTRX (Matrix Service Company) trades in the Industrials sector, specifically Engineering & Construction, with a market capitalization of approximately $332.0M, a beta of 1.02 versus the broader market, a 52-week range of 9.88-16.11, average daily share volume of 283K, a public-listing history dating back to 1990, approximately 2K full-time employees. These structural characteristics shape how MTRX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.02 places MTRX roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.

What is a cash-secured put on MTRX?

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 MTRX snapshot

As of May 15, 2026, spot at $11.88, ATM IV 70.40%, IV rank 12.30%, expected move 20.18%. The cash-secured put on MTRX 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 MTRX specifically: MTRX IV at 70.40% is on the cheap side of its 1-year range, which means a premium-selling MTRX cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 20.18% (roughly $2.40 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 MTRX expiries trade a higher absolute premium for lower per-day decay. Position sizing on MTRX should anchor to the underlying notional of $11.88 per share and to the trader's directional view on MTRX stock.

MTRX cash-secured put setup

The MTRX 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 MTRX near $11.88, the first option leg uses a $11.29 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed MTRX 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 MTRX shares for the stock leg in covered calls and collars).

ActionTypeStrike / BasisPremium (est)
Sell 1Put$11.29N/A

MTRX 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.

MTRX cash-secured put payoff curve

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

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

MTRX thesis for this cash-secured put

The market-implied 1-standard-deviation range for MTRX extends from approximately $9.48 on the downside to $14.28 on the upside. A MTRX cash-secured put lets a trader earn premium while waiting to acquire MTRX 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 MTRX IV rank near 12.30% 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 MTRX at 70.40%. As a Industrials name, MTRX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to MTRX-specific events.

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

Frequently asked questions

What is a cash-secured put on MTRX?
A cash-secured put on MTRX is the cash-secured put strategy applied to MTRX (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 MTRX stock trading near $11.88, the strikes shown on this page are snapped to the nearest listed MTRX chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are MTRX 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 MTRX cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 70.40%), 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 MTRX cash-secured put?
The breakeven for the MTRX 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 MTRX market-implied 1-standard-deviation expected move is approximately 20.18%; 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 MTRX?
Cash-secured puts on MTRX earn premium while a trader waits to acquire MTRX stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning MTRX.
How does current MTRX implied volatility affect this cash-secured put?
MTRX ATM IV is at 70.40% with IV rank near 12.30%, 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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