MTRX Cash-Secured Put Strategy
MTRX (Matrix Service Company), in the Industrials sector, (Engineering & Construction industry), listed on NASDAQ.
Matrix Service Company (MTRX), established in 1984 and headquartered in Tulsa, Oklahoma, operates as a diversified global contractor. The firm offers a comprehensive suite of services, including engineering, fabrication, infrastructure development, construction, and maintenance. It primarily caters to critical industries such as oil, gas, power generation, petrochemicals, manufacturing, agriculture, mining, and minerals. Matrix Service Company's operations extend across the United States, Canada, South Korea, Australia, and other international markets. The company organizes its activities into three principal segments: 1. Utility and Power Infrastructure: This division specializes in electrical power delivery systems.
MTRX (Matrix Service Company) trades in the Industrials sector, specifically Engineering & Construction, with a market capitalization of approximately $330.3M, a beta of 1.00 versus the broader market, a 52-week range of 9.88-15.97, average daily share volume of 233K, 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 1.00 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.
MTRX snapshot
As of August 14, 2026, spot at $11.94, ATM IV 55.00%, IV rank 9.23%, expected move 15.77%. The cash-secured put on MTRX below is built from the end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.
Why this cash-secured put structure on MTRX specifically: MTRX IV at 55.00% 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 15.77% (roughly $1.88 on the underlying). The 35-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 $11.94 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 at $11.94 on that close, the first option leg uses a $11.34 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 35-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).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $11.34 | N/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 $10.06 on the downside to $13.82 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 9.23% 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 55.00%. 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 at $11.94 on the most recent close, the strikes shown on this page are snapped to the nearest listed MTRX chain strike and the premiums come straight from that session's 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 55.00%), 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 the end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The MTRX market-implied 1-standard-deviation expected move in the same options snapshot is approximately 15.77%; 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 55.00% with IV rank near 9.23%, 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.