OSCR Cash-Secured Put Strategy
OSCR (Oscar Health, Inc.), in the Healthcare sector, (Medical - Healthcare Plans industry), listed on NYSE.
Oscar Health, Inc. provides health insurance products and services in the United States. The company offers Individual & Family, Small Group, and Medicare Advantage plans, as well as +Oscar, a technology driven platform designed to help providers and payor clients to engage with members and patients. It also provides reinsurance products. The company was formerly known as Mulberry Health Inc. and changed its name to Oscar Health, Inc. in January 2021. Oscar Health, Inc. was incorporated in 2012 and is headquartered in New York, New York.
OSCR (Oscar Health, Inc.) trades in the Healthcare sector, specifically Medical - Healthcare Plans, with a market capitalization of approximately $6.12B, a beta of 2.34 versus the broader market, a 52-week range of 10.69-24.28, average daily share volume of 7.0M, a public-listing history dating back to 2021, approximately 2K full-time employees. These structural characteristics shape how OSCR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.34 indicates OSCR 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 OSCR?
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 OSCR snapshot
As of May 15, 2026, spot at $23.05, ATM IV 66.30%, IV rank 16.40%, expected move 19.01%. The cash-secured put on OSCR 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 28-day expiry.
Why this cash-secured put structure on OSCR specifically: OSCR IV at 66.30% is on the cheap side of its 1-year range, which means a premium-selling OSCR cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 19.01% (roughly $4.38 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 OSCR expiries trade a higher absolute premium for lower per-day decay. Position sizing on OSCR should anchor to the underlying notional of $23.05 per share and to the trader's directional view on OSCR stock.
OSCR cash-secured put setup
The OSCR 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 OSCR near $23.05, the first option leg uses a $22.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed OSCR 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 OSCR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $22.00 | $1.20 |
OSCR cash-secured put risk and reward
- Net Premium / Debit
- +$120.00
- Max Profit (per contract)
- $120.00
- Max Loss (per contract)
- -$2,079.00
- Breakeven(s)
- $20.80
- Risk / Reward Ratio
- 0.058
Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.
OSCR cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on OSCR. 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% | -$2,079.00 |
| $5.11 | -77.9% | -$1,569.46 |
| $10.20 | -55.7% | -$1,059.92 |
| $15.30 | -33.6% | -$550.39 |
| $20.39 | -11.5% | -$40.85 |
| $25.49 | +10.6% | +$120.00 |
| $30.58 | +32.7% | +$120.00 |
| $35.68 | +54.8% | +$120.00 |
| $40.77 | +76.9% | +$120.00 |
| $45.87 | +99.0% | +$120.00 |
When traders use cash-secured put on OSCR
Cash-secured puts on OSCR earn premium while a trader waits to acquire OSCR stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning OSCR.
OSCR thesis for this cash-secured put
The market-implied 1-standard-deviation range for OSCR extends from approximately $18.67 on the downside to $27.43 on the upside. A OSCR cash-secured put lets a trader earn premium while waiting to acquire OSCR 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 OSCR IV rank near 16.40% 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 OSCR at 66.30%. As a Healthcare name, OSCR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to OSCR-specific events.
OSCR 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. OSCR positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move OSCR alongside the broader basket even when OSCR-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on OSCR carry tail risk when realized volatility exceeds the implied move; review historical OSCR earnings reactions and macro stress periods before sizing. Always rebuild the position from current OSCR chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on OSCR?
- A cash-secured put on OSCR is the cash-secured put strategy applied to OSCR (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 OSCR stock trading near $23.05, the strikes shown on this page are snapped to the nearest listed OSCR chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are OSCR 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 OSCR cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 66.30%), the computed maximum profit is $120.00 per contract and the computed maximum loss is -$2,079.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a OSCR cash-secured put?
- The breakeven for the OSCR cash-secured put priced on this page is roughly $20.80 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 OSCR market-implied 1-standard-deviation expected move is approximately 19.01%; 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 OSCR?
- Cash-secured puts on OSCR earn premium while a trader waits to acquire OSCR stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning OSCR.
- How does current OSCR implied volatility affect this cash-secured put?
- OSCR ATM IV is at 66.30% with IV rank near 16.40%, 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.