RGTI Cash-Secured Put Strategy
RGTI (Rigetti Computing, Inc.), in the Technology sector, (Computer Hardware industry), listed on NASDAQ.
Rigetti Computing, Inc. operates as an integrated systems company. The company builds quantum computers and the superconducting quantum processors that power them. Its machines are integrated into various public, private, or hybrid clouds through its Quantum Cloud Services platform. The company was founded in 2013 and is based in Berkeley, California.
RGTI (Rigetti Computing, Inc.) trades in the Technology sector, specifically Computer Hardware, with a market capitalization of approximately $6.12B, a beta of 1.80 versus the broader market, a 52-week range of 10.3-58.15, average daily share volume of 28.9M, a public-listing history dating back to 2021, approximately 137 full-time employees. These structural characteristics shape how RGTI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.80 indicates RGTI 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 RGTI?
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 RGTI snapshot
As of May 15, 2026, spot at $17.98, ATM IV 95.29%, IV rank 22.74%, expected move 27.32%. The cash-secured put on RGTI 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 RGTI specifically: RGTI IV at 95.29% is on the cheap side of its 1-year range, which means a premium-selling RGTI cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 27.32% (roughly $4.91 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 RGTI expiries trade a higher absolute premium for lower per-day decay. Position sizing on RGTI should anchor to the underlying notional of $17.98 per share and to the trader's directional view on RGTI stock.
RGTI cash-secured put setup
The RGTI 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 RGTI near $17.98, the first option leg uses a $17.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed RGTI 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 RGTI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $17.00 | $1.36 |
RGTI cash-secured put risk and reward
- Net Premium / Debit
- +$136.00
- Max Profit (per contract)
- $136.00
- Max Loss (per contract)
- -$1,563.00
- Breakeven(s)
- $15.64
- Risk / Reward Ratio
- 0.087
Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.
RGTI cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on RGTI. 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 | -99.9% | -$1,563.00 |
| $3.98 | -77.8% | -$1,165.56 |
| $7.96 | -55.7% | -$768.13 |
| $11.93 | -33.6% | -$370.69 |
| $15.91 | -11.5% | +$26.75 |
| $19.88 | +10.6% | +$136.00 |
| $23.86 | +32.7% | +$136.00 |
| $27.83 | +54.8% | +$136.00 |
| $31.80 | +76.9% | +$136.00 |
| $35.78 | +99.0% | +$136.00 |
When traders use cash-secured put on RGTI
Cash-secured puts on RGTI earn premium while a trader waits to acquire RGTI stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning RGTI.
RGTI thesis for this cash-secured put
The market-implied 1-standard-deviation range for RGTI extends from approximately $13.07 on the downside to $22.89 on the upside. A RGTI cash-secured put lets a trader earn premium while waiting to acquire RGTI 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 RGTI IV rank near 22.74% 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 RGTI at 95.29%. As a Technology name, RGTI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to RGTI-specific events.
RGTI 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. RGTI positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move RGTI alongside the broader basket even when RGTI-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on RGTI carry tail risk when realized volatility exceeds the implied move; review historical RGTI earnings reactions and macro stress periods before sizing. Always rebuild the position from current RGTI chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on RGTI?
- A cash-secured put on RGTI is the cash-secured put strategy applied to RGTI (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 RGTI stock trading near $17.98, the strikes shown on this page are snapped to the nearest listed RGTI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are RGTI 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 RGTI cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 95.29%), the computed maximum profit is $136.00 per contract and the computed maximum loss is -$1,563.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a RGTI cash-secured put?
- The breakeven for the RGTI cash-secured put priced on this page is roughly $15.64 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 RGTI market-implied 1-standard-deviation expected move is approximately 27.32%; 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 RGTI?
- Cash-secured puts on RGTI earn premium while a trader waits to acquire RGTI stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning RGTI.
- How does current RGTI implied volatility affect this cash-secured put?
- RGTI ATM IV is at 95.29% with IV rank near 22.74%, 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.