PRCT Cash-Secured Put Strategy

PRCT (PROCEPT BioRobotics Corporation), in the Healthcare sector, (Medical - Devices industry), listed on NASDAQ.

PROCEPT BioRobotics Corporation specializes in pioneering surgical robotic technologies, offering innovative solutions within the field of urology. Its flagship product is the AquaBeam Robotic System, a sophisticated, image-guided surgical robot designed for minimally invasive urological procedures. This system primarily facilitates Aquablation therapy, which the company also devised, to alleviate lower urinary tract symptoms in male patients diagnosed with benign prostatic hyperplasia (BPH). As of year-end 2021, PROCEPT BioRobotics had successfully deployed 130 AquaBeam Robotic Systems across the globe, with a significant majority—78 units—located in the United States. Founded in 2007, the corporation maintains its headquarters in Redwood City, California.

PRCT (PROCEPT BioRobotics Corporation) trades in the Healthcare sector, specifically Medical - Devices, with a market capitalization of approximately $1.21B, a beta of 0.89 versus the broader market, a 52-week range of 16.665-42.705, average daily share volume of 1.6M, a public-listing history dating back to 2021, approximately 888 full-time employees. These structural characteristics shape how PRCT stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.89 places PRCT roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.

What is a cash-secured put on PRCT?

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.

PRCT snapshot

As of August 14, 2026, spot at $21.67, ATM IV 55.80%, IV rank 37.57%, expected move 16.00%. The cash-secured put on PRCT below is built from the end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.

Why this cash-secured put structure on PRCT specifically: PRCT IV at 55.80% is mid-range versus its 1-year history, so the credit collected on a PRCT cash-secured put sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 16.00% (roughly $3.47 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated PRCT expiries trade a higher absolute premium for lower per-day decay. Position sizing on PRCT should anchor to the underlying notional of $21.67 per share and to the trader's directional view on PRCT stock.

PRCT cash-secured put setup

The PRCT 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 PRCT at $21.67 on that close, the first option leg uses a $20.59 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed PRCT chain at a 35-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 PRCT shares for the stock leg in covered calls and collars).

ActionTypeStrike / BasisPremium (est)
Sell 1Put$20.59N/A

PRCT 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.

PRCT cash-secured put payoff curve

Modeled P&L at expiration across a range of underlying prices for the cash-secured put on PRCT. 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 PRCT

Cash-secured puts on PRCT earn premium while a trader waits to acquire PRCT stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning PRCT.

PRCT thesis for this cash-secured put

The market-implied 1-standard-deviation range for PRCT extends from approximately $18.20 on the downside to $25.14 on the upside. A PRCT cash-secured put lets a trader earn premium while waiting to acquire PRCT 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 PRCT IV rank near 37.57% is mid-range against its 1-year distribution, so the IV signal is neutral; the cash-secured put thesis on PRCT should anchor more to the directional view and the expected-move geometry. As a Healthcare name, PRCT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to PRCT-specific events.

PRCT 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. PRCT positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move PRCT alongside the broader basket even when PRCT-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on PRCT carry tail risk when realized volatility exceeds the implied move; review historical PRCT earnings reactions and macro stress periods before sizing. Always rebuild the position from current PRCT chain quotes before placing a trade.

Frequently asked questions

What is a cash-secured put on PRCT?
A cash-secured put on PRCT is the cash-secured put strategy applied to PRCT (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 PRCT stock at $21.67 on the most recent close, the strikes shown on this page are snapped to the nearest listed PRCT chain strike and the premiums come straight from that session's bid/ask midpoint.
How are PRCT 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 PRCT cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 55.80%), 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 PRCT cash-secured put?
The breakeven for the PRCT cash-secured put priced on this page is no defined breakeven on the modeled curve at expiration, derived from the end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The PRCT market-implied 1-standard-deviation expected move in the same options snapshot is approximately 16.00%; 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 PRCT?
Cash-secured puts on PRCT earn premium while a trader waits to acquire PRCT stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning PRCT.
How does current PRCT implied volatility affect this cash-secured put?
PRCT ATM IV is at 55.80% with IV rank near 37.57%, 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.

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