NSP Cash-Secured Put Strategy
NSP (Insperity, Inc.), in the Industrials sector, (Staffing & Employment Services industry), listed on NYSE.
Insperity, Inc. provides human resources (HR) and business solutions to improve business performance for small and medium-sized businesses. The company offers its HR services through its Workforce Optimization and Workforce Synchronization solutions that include a range of human resources functions, such as payroll and employment administration, employee benefits, workers' compensation, government compliance, performance management, and training and development services. It also provides Insperity Premier, a cloud-based human capital management platform that offers professional employer organization HR outsourcing solutions to its clients; personnel record management services; and employer liability management services, as well as solutions for middle market. In addition, the company offers MarketPlace, an e-commerce portal that offers a range of products and services; and Workforce Acceleration, a human capital management and payroll services solution; time and attendance; performance management; organizational planning; recruiting; employment screening; retirement; and insurance services. As of December 31, 2021, it operated through 85 sales offices in the United States. The company was formerly known as Administaff, Inc. and changed its name to Insperity, Inc. in March 2011.
NSP (Insperity, Inc.) trades in the Industrials sector, specifically Staffing & Employment Services, with a market capitalization of approximately $1.11B, a beta of 0.62 versus the broader market, a 52-week range of 18.57-72.23, average daily share volume of 1.1M, a public-listing history dating back to 1997, approximately 306K full-time employees. These structural characteristics shape how NSP stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.62 indicates NSP has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. NSP pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a cash-secured put on NSP?
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 NSP snapshot
As of May 15, 2026, spot at $30.20, ATM IV 67.40%, IV rank 36.12%, expected move 19.32%. The cash-secured put on NSP 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 NSP specifically: NSP IV at 67.40% is mid-range versus its 1-year history, so the credit collected on a NSP cash-secured put sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 19.32% (roughly $5.84 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 NSP expiries trade a higher absolute premium for lower per-day decay. Position sizing on NSP should anchor to the underlying notional of $30.20 per share and to the trader's directional view on NSP stock.
NSP cash-secured put setup
The NSP 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 NSP near $30.20, the first option leg uses a $28.69 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed NSP 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 NSP shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $28.69 | N/A |
NSP 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.
NSP cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on NSP. 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 NSP
Cash-secured puts on NSP earn premium while a trader waits to acquire NSP stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning NSP.
NSP thesis for this cash-secured put
The market-implied 1-standard-deviation range for NSP extends from approximately $24.36 on the downside to $36.04 on the upside. A NSP cash-secured put lets a trader earn premium while waiting to acquire NSP 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 NSP IV rank near 36.12% is mid-range against its 1-year distribution, so the IV signal is neutral; the cash-secured put thesis on NSP should anchor more to the directional view and the expected-move geometry. As a Industrials name, NSP options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to NSP-specific events.
NSP 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. NSP positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move NSP alongside the broader basket even when NSP-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on NSP carry tail risk when realized volatility exceeds the implied move; review historical NSP earnings reactions and macro stress periods before sizing. Always rebuild the position from current NSP chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on NSP?
- A cash-secured put on NSP is the cash-secured put strategy applied to NSP (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 NSP stock trading near $30.20, the strikes shown on this page are snapped to the nearest listed NSP chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are NSP 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 NSP cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 67.40%), 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 NSP cash-secured put?
- The breakeven for the NSP 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 NSP market-implied 1-standard-deviation expected move is approximately 19.32%; 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 NSP?
- Cash-secured puts on NSP earn premium while a trader waits to acquire NSP stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning NSP.
- How does current NSP implied volatility affect this cash-secured put?
- NSP ATM IV is at 67.40% with IV rank near 36.12%, 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.