OGI Cash-Secured Put Strategy
OGI (Organigram Global Inc.), in the Healthcare sector, (Drug Manufacturers - Specialty & Generic industry), listed on NASDAQ.
Organigram Holdings Inc., through its subsidiaries, produces and sells cannabis and cannabis-derived products in Canada. It offers medical cannabis products, including cannabis flowers, cannabis oils, and vaporizers for civilian patients and veterans; adult use recreational cannabis under the Edison Cannabis Co., Trail Blazer, SHRED, SHRED'ems, Big Bag O' Buds, and Monjour brands; and cannabis edibles products and concentrates. The company also engages in the wholesale shipping of cannabis plant cuttings, dried flowers, blends, pre-rolls, and cannabis derivative based products to retailers and wholesalers for adult-use recreational cannabis. It sells its products through online, as well as telephone channels. Organigram Holdings Inc. was founded in 2013 and is headquartered in Moncton, Canada.
OGI (Organigram Global Inc.) trades in the Healthcare sector, specifically Drug Manufacturers - Specialty & Generic, with a market capitalization of approximately $152.0M, a beta of 1.91 versus the broader market, a 52-week range of 1.09-2.24, average daily share volume of 699K, a public-listing history dating back to 2019, approximately 1K full-time employees. These structural characteristics shape how OGI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.91 indicates OGI 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 OGI?
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 OGI snapshot
As of May 15, 2026, spot at $1.06, ATM IV 27.20%, IV rank 9.26%, expected move 7.80%. The cash-secured put on OGI 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 OGI specifically: OGI IV at 27.20% is on the cheap side of its 1-year range, which means a premium-selling OGI cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 7.80% (roughly $0.08 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 OGI expiries trade a higher absolute premium for lower per-day decay. Position sizing on OGI should anchor to the underlying notional of $1.06 per share and to the trader's directional view on OGI stock.
OGI cash-secured put setup
The OGI 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 OGI near $1.06, the first option leg uses a $1.01 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed OGI 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 OGI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $1.01 | N/A |
OGI 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.
OGI cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on OGI. 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 OGI
Cash-secured puts on OGI earn premium while a trader waits to acquire OGI stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning OGI.
OGI thesis for this cash-secured put
The market-implied 1-standard-deviation range for OGI extends from approximately $0.98 on the downside to $1.14 on the upside. A OGI cash-secured put lets a trader earn premium while waiting to acquire OGI 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 OGI IV rank near 9.26% 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 OGI at 27.20%. As a Healthcare name, OGI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to OGI-specific events.
OGI 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. OGI positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move OGI alongside the broader basket even when OGI-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on OGI carry tail risk when realized volatility exceeds the implied move; review historical OGI earnings reactions and macro stress periods before sizing. Always rebuild the position from current OGI chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on OGI?
- A cash-secured put on OGI is the cash-secured put strategy applied to OGI (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 OGI stock trading near $1.06, the strikes shown on this page are snapped to the nearest listed OGI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are OGI 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 OGI cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 27.20%), 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 OGI cash-secured put?
- The breakeven for the OGI 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 OGI market-implied 1-standard-deviation expected move is approximately 7.80%; 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 OGI?
- Cash-secured puts on OGI earn premium while a trader waits to acquire OGI stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning OGI.
- How does current OGI implied volatility affect this cash-secured put?
- OGI ATM IV is at 27.20% with IV rank near 9.26%, 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.