RMAX Cash-Secured Put Strategy

RMAX (RE/MAX Holdings, Inc.), in the Real Estate sector, (Real Estate - Services industry), listed on NYSE.

RE/MAX Holdings, Inc. operates as a franchisor of real estate brokerage services in the United States, Canada, and internationally. The company operates through three segments: Real Estate, Mortgage, and Marketing Funds. The Real Estate segment comprises real estate brokerage franchising services under the RE/MAX brand name, along with corporate-wide shared services. The Mortgage segment includes brokerage franchising services to real estate brokers, real estate professionals, mortgage professionals, and other investors under the Motto Mortgage brand name; and mortgage loan processing software and services under the wemlo brand name. The Marketing Funds segment manages marketing campaigns and agent marketing technology. The company also provides the BoldTrail platform, which integrates a suite of digital products that enables agents, brokers, and teams to establish, manage, and grow client relationships; and the RE/MAX University platform, a learning hub designed to help each agent with their professional expertise.

RMAX (RE/MAX Holdings, Inc.) trades in the Real Estate sector, specifically Real Estate - Services, with a market capitalization of approximately $198.6M, a trailing P/E of 546.07, a beta of 1.84 versus the broader market, a 52-week range of 5.46-11.62, average daily share volume of 718K, a public-listing history dating back to 2013, approximately 519 full-time employees. These structural characteristics shape how RMAX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.84 indicates RMAX has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. The trailing P/E of 546.07 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.

What is a cash-secured put on RMAX?

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 RMAX snapshot

As of June 29, 2026, spot at $10.06, ATM IV 348.00%, IV rank 100.00%, expected move 99.77%. The cash-secured put on RMAX 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 18-day expiry.

Why this cash-secured put structure on RMAX specifically: RMAX IV at 348.00% is rich versus its 1-year range, which favors premium-selling structures like a RMAX cash-secured put, with a market-implied 1-standard-deviation move of approximately 99.77% (roughly $10.04 on the underlying). The 18-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated RMAX expiries trade a higher absolute premium for lower per-day decay. Position sizing on RMAX should anchor to the underlying notional of $10.06 per share and to the trader's directional view on RMAX stock.

RMAX cash-secured put setup

The RMAX 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 RMAX near $10.06, the first option leg uses a $9.56 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed RMAX chain at a 18-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 RMAX shares for the stock leg in covered calls and collars).

ActionTypeStrike / BasisPremium (est)
Sell 1Put$9.56N/A

RMAX 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.

RMAX cash-secured put payoff curve

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

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

RMAX thesis for this cash-secured put

The market-implied 1-standard-deviation range for RMAX extends from approximately $0.02 on the downside to $20.10 on the upside. A RMAX cash-secured put lets a trader earn premium while waiting to acquire RMAX 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 RMAX IV rank near 100.00% sits in the upper third of its 1-year distribution, which historically reverts; this raises the bar for premium-buying structures and lowers it for premium-selling structures on RMAX at 348.00%. As a Real Estate name, RMAX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to RMAX-specific events.

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

Frequently asked questions

What is a cash-secured put on RMAX?
A cash-secured put on RMAX is the cash-secured put strategy applied to RMAX (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 RMAX stock trading near $10.06, the strikes shown on this page are snapped to the nearest listed RMAX chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are RMAX 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 RMAX cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 348.00%), 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 RMAX cash-secured put?
The breakeven for the RMAX 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 RMAX market-implied 1-standard-deviation expected move is approximately 99.77%; 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 RMAX?
Cash-secured puts on RMAX earn premium while a trader waits to acquire RMAX stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning RMAX.
How does current RMAX implied volatility affect this cash-secured put?
RMAX ATM IV is at 348.00% with IV rank near 100.00%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.

Related RMAX analysis