NVRI Cash-Secured Put Strategy
NVRI (Enviri Corporation), in the Industrials sector, (Waste Management industry), listed on NYSE.
Enviri Corporation provides environmental solutions for industrial and specialty waste streams in the United States and internationally. The company operates through two segments: Harsco Environmental and Harsco Clean Earth. The Harsco Environmental segment offers on-site services under long-term contracts for material logistics, product quality improvement, and resource recovery for iron, steel, and metals manufacturing; manufactures and sells industrial abrasives, roofing granules, aluminum dross, and scrap processing systems; and produces value-added downstream products from industrial waste-stream. The Harsco Clean Earth segment provides specialty waste processing, treatment, and recycling and beneficial reuse solutions for waste needs, such as hazardous, non-hazardous, and contaminated soils and dredged materials. The company was formerly known as Harsco Corporation and changed its name to Enviri Corporation in June 2023. The company was founded in 1853 and is headquartered in Philadelphia, Pennsylvania.
NVRI (Enviri Corporation) trades in the Industrials sector, specifically Waste Management, with a market capitalization of approximately $1.61B, a beta of 1.60 versus the broader market, a 52-week range of 7.35-19.99, average daily share volume of 1.2M, a public-listing history dating back to 1980, approximately 12K full-time employees. These structural characteristics shape how NVRI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.60 indicates NVRI has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.
What is a cash-secured put on NVRI?
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 NVRI snapshot
As of May 15, 2026, spot at $19.41, ATM IV 259.30%, IV rank 100.00%, expected move 74.34%. The cash-secured put on NVRI 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 NVRI specifically: NVRI IV at 259.30% is rich versus its 1-year range, which favors premium-selling structures like a NVRI cash-secured put, with a market-implied 1-standard-deviation move of approximately 74.34% (roughly $14.43 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 NVRI expiries trade a higher absolute premium for lower per-day decay. Position sizing on NVRI should anchor to the underlying notional of $19.41 per share and to the trader's directional view on NVRI stock.
NVRI cash-secured put setup
The NVRI 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 NVRI near $19.41, the first option leg uses a $18.44 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed NVRI 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 NVRI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $18.44 | N/A |
NVRI 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.
NVRI cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on NVRI. 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 NVRI
Cash-secured puts on NVRI earn premium while a trader waits to acquire NVRI stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning NVRI.
NVRI thesis for this cash-secured put
The market-implied 1-standard-deviation range for NVRI extends from approximately $4.98 on the downside to $33.84 on the upside. A NVRI cash-secured put lets a trader earn premium while waiting to acquire NVRI 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 NVRI IV rank near 100.00% sits in the upper third of its 1-year distribution, which historically reverts; this raises the bar for premium-buying structures and lowers it for premium-selling structures on NVRI at 259.30%. As a Industrials name, NVRI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to NVRI-specific events.
NVRI 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. NVRI positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move NVRI alongside the broader basket even when NVRI-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on NVRI carry tail risk when realized volatility exceeds the implied move; review historical NVRI earnings reactions and macro stress periods before sizing. Always rebuild the position from current NVRI chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on NVRI?
- A cash-secured put on NVRI is the cash-secured put strategy applied to NVRI (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 NVRI stock trading near $19.41, the strikes shown on this page are snapped to the nearest listed NVRI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are NVRI 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 NVRI cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 259.30%), 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 NVRI cash-secured put?
- The breakeven for the NVRI 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 NVRI market-implied 1-standard-deviation expected move is approximately 74.34%; 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 NVRI?
- Cash-secured puts on NVRI earn premium while a trader waits to acquire NVRI stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning NVRI.
- How does current NVRI implied volatility affect this cash-secured put?
- NVRI ATM IV is at 259.30% with IV rank near 100.00%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.