NBIS Cash-Secured Put Strategy
NBIS (Nebius Group N.V.), in the Technology sector, (Software - Infrastructure industry), listed on NASDAQ.
Nebius Group N.V. is a technology company dedicated to developing comprehensive infrastructure to serve the global artificial intelligence industry. Its operations encompass several key areas. Central to its mission is Nebius, an AI-focused cloud platform engineered to handle demanding AI workloads. This division constructs end-to-end AI infrastructure, featuring extensive GPU computing clusters, robust cloud platforms, and essential tools and services for developers. The group also includes Toloka AI, which functions as a data solutions provider, assisting with various phases of generative AI development. TripleTen operates as an educational technology venture, focused on equipping individuals with new skills for careers in the tech sector.
NBIS (Nebius Group N.V.) trades in the Technology sector, specifically Software - Infrastructure, with a market capitalization of approximately $62.21B, a trailing P/E of 80.05, a beta of 1.44 versus the broader market, a 52-week range of 62.01-299.86, average daily share volume of 18.9M, a public-listing history dating back to 2011, approximately 2K full-time employees. These structural characteristics shape how NBIS stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.44 indicates NBIS has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. The trailing P/E of 80.05 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 NBIS?
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.
NBIS snapshot
As of August 14, 2026, spot at $273.22, ATM IV 97.70%, IV rank 32.20%, expected move 28.01%. The cash-secured put on NBIS below is built from the August 14, 2026 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 NBIS specifically: NBIS IV at 97.70% is mid-range versus its 1-year history, so the credit collected on a NBIS cash-secured put sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 28.01% (roughly $76.53 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 NBIS expiries trade a higher absolute premium for lower per-day decay. Position sizing on NBIS should anchor to the underlying notional of $273.22 per share and to the trader's directional view on NBIS stock.
NBIS cash-secured put setup
The NBIS cash-secured put below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With NBIS at $273.22 on that close, the first option leg uses a $260.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed NBIS 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 NBIS shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $260.00 | $22.15 |
NBIS cash-secured put risk and reward
- Net Premium / Debit
- +$2,215.00
- Max Profit (per contract)
- $2,215.00
- Max Loss (per contract)
- -$23,784.00
- Breakeven(s)
- $237.85
- Risk / Reward Ratio
- 0.093
Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.
NBIS cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on NBIS. 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% | -$23,784.00 |
| $60.42 | -77.9% | -$17,743.07 |
| $120.83 | -55.8% | -$11,702.13 |
| $181.24 | -33.7% | -$5,661.20 |
| $241.65 | -11.6% | +$379.74 |
| $302.06 | +10.6% | +$2,215.00 |
| $362.47 | +32.7% | +$2,215.00 |
| $422.88 | +54.8% | +$2,215.00 |
| $483.28 | +76.9% | +$2,215.00 |
| $543.69 | +99.0% | +$2,215.00 |
When traders use cash-secured put on NBIS
Cash-secured puts on NBIS earn premium while a trader waits to acquire NBIS stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning NBIS.
NBIS thesis for this cash-secured put
The market-implied 1-standard-deviation range for NBIS extends from approximately $196.69 on the downside to $349.75 on the upside. A NBIS cash-secured put lets a trader earn premium while waiting to acquire NBIS 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 NBIS IV rank near 32.20% is mid-range against its 1-year distribution, so the IV signal is neutral; the cash-secured put thesis on NBIS should anchor more to the directional view and the expected-move geometry. As a Technology name, NBIS options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to NBIS-specific events.
NBIS 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. NBIS positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move NBIS alongside the broader basket even when NBIS-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on NBIS carry tail risk when realized volatility exceeds the implied move; review historical NBIS earnings reactions and macro stress periods before sizing. Always rebuild the position from current NBIS chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on NBIS?
- A cash-secured put on NBIS is the cash-secured put strategy applied to NBIS (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 NBIS stock at $273.22 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed NBIS chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are NBIS 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 NBIS cash-secured put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 97.70%), the computed maximum profit is $2,215.00 per contract and the computed maximum loss is -$23,784.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a NBIS cash-secured put?
- The breakeven for the NBIS cash-secured put priced on this page is roughly $237.85 at expiration, derived from the August 14, 2026 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 NBIS market-implied 1-standard-deviation expected move in the same options snapshot is approximately 28.01%; 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 NBIS?
- Cash-secured puts on NBIS earn premium while a trader waits to acquire NBIS stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning NBIS.
- How does current NBIS implied volatility affect this cash-secured put?
- NBIS ATM IV is at 97.70% with IV rank near 32.20%, 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.