PINE Cash-Secured Put Strategy
PINE (Alpine Income Property Trust, Inc.), in the Real Estate sector, (REIT - Industrial industry), listed on NYSE.
Alpine Income Property Trust, Inc. is a publicly traded real estate investment trust. The firm seeks to deliver attractive risk-adjusted returns and dependable cash dividends by investing in, owning and operating a portfolio of single tenant net leased commercial income properties that are predominately leased to high-quality publicly traded and credit-rated tenants. The Company also complements its income property portfolio by strategically investing in a select portfolio of commercial loan investments intended to deliver an attractive risk-adjusted return. Alpine Income Property Trust, Inc. was incorporated in 2019 in Maryland, USA.
PINE (Alpine Income Property Trust, Inc.) trades in the Real Estate sector, specifically REIT - Industrial, with a market capitalization of approximately $343.5M, a trailing P/E of 457.11, a beta of 0.59 versus the broader market, a 52-week range of 13.1-21.2, average daily share volume of 168K, a public-listing history dating back to 2019. These structural characteristics shape how PINE stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.59 indicates PINE has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. The trailing P/E of 457.11 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. PINE 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 PINE?
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 PINE snapshot
As of June 30, 2026, spot at $20.67, ATM IV 118.00%, IV rank 23.03%, expected move 33.83%. The cash-secured put on PINE 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 17-day expiry.
Why this cash-secured put structure on PINE specifically: PINE IV at 118.00% is on the cheap side of its 1-year range, which means a premium-selling PINE cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 33.83% (roughly $6.99 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated PINE expiries trade a higher absolute premium for lower per-day decay. Position sizing on PINE should anchor to the underlying notional of $20.67 per share and to the trader's directional view on PINE stock.
PINE cash-secured put setup
The PINE 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 PINE near $20.67, the first option leg uses a $19.64 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed PINE chain at a 17-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 PINE shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $19.64 | N/A |
PINE 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.
PINE cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on PINE. 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 PINE
Cash-secured puts on PINE earn premium while a trader waits to acquire PINE stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning PINE.
PINE thesis for this cash-secured put
The market-implied 1-standard-deviation range for PINE extends from approximately $13.68 on the downside to $27.66 on the upside. A PINE cash-secured put lets a trader earn premium while waiting to acquire PINE 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 PINE IV rank near 23.03% 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 PINE at 118.00%. As a Real Estate name, PINE options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to PINE-specific events.
PINE 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. PINE positions also carry Real Estate sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move PINE alongside the broader basket even when PINE-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on PINE carry tail risk when realized volatility exceeds the implied move; review historical PINE earnings reactions and macro stress periods before sizing. Always rebuild the position from current PINE chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on PINE?
- A cash-secured put on PINE is the cash-secured put strategy applied to PINE (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 PINE stock trading near $20.67, the strikes shown on this page are snapped to the nearest listed PINE chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are PINE 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 PINE cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 118.00%), 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 PINE cash-secured put?
- The breakeven for the PINE 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 PINE market-implied 1-standard-deviation expected move is approximately 33.83%; 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 PINE?
- Cash-secured puts on PINE earn premium while a trader waits to acquire PINE stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning PINE.
- How does current PINE implied volatility affect this cash-secured put?
- PINE ATM IV is at 118.00% with IV rank near 23.03%, 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.