SATL Cash-Secured Put Strategy
SATL (Satellogic Inc.), in the Technology sector, (Hardware, Equipment & Parts industry), listed on NASDAQ.
Satellogic Inc. builds and operates nano satellites for commercial-grade Earth observation in real-time. It offers data streams that are used in decision-making processes for various branches of government, organizations, businesses, and individuals. Its satellites are used for applications in agriculture, pipeline monitoring, critical infrastructure monitoring, disaster response, illegal logging, border patrol, port security, and other applications. The company was founded in 2010 and is based in Palo Alto, California.
SATL (Satellogic Inc.) trades in the Technology sector, specifically Hardware, Equipment & Parts, with a market capitalization of approximately $973.3M, a beta of 1.06 versus the broader market, a 52-week range of 1.255-8.9, average daily share volume of 9.6M, a public-listing history dating back to 2021, approximately 137 full-time employees. These structural characteristics shape how SATL stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.06 places SATL 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 SATL?
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 SATL snapshot
As of May 15, 2026, spot at $9.81, ATM IV 122.10%, IV rank 20.91%, expected move 35.00%. The cash-secured put on SATL 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 34-day expiry.
Why this cash-secured put structure on SATL specifically: SATL IV at 122.10% is on the cheap side of its 1-year range, which means a premium-selling SATL cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 35.00% (roughly $3.43 on the underlying). The 34-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated SATL expiries trade a higher absolute premium for lower per-day decay. Position sizing on SATL should anchor to the underlying notional of $9.81 per share and to the trader's directional view on SATL stock.
SATL cash-secured put setup
The SATL 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 SATL near $9.81, the first option leg uses a $9.32 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed SATL chain at a 34-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 SATL shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $9.32 | N/A |
SATL 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.
SATL cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on SATL. 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 SATL
Cash-secured puts on SATL earn premium while a trader waits to acquire SATL stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning SATL.
SATL thesis for this cash-secured put
The market-implied 1-standard-deviation range for SATL extends from approximately $6.38 on the downside to $13.24 on the upside. A SATL cash-secured put lets a trader earn premium while waiting to acquire SATL 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 SATL IV rank near 20.91% 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 SATL at 122.10%. As a Technology name, SATL options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to SATL-specific events.
SATL 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. SATL positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move SATL alongside the broader basket even when SATL-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on SATL carry tail risk when realized volatility exceeds the implied move; review historical SATL earnings reactions and macro stress periods before sizing. Always rebuild the position from current SATL chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on SATL?
- A cash-secured put on SATL is the cash-secured put strategy applied to SATL (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 SATL stock trading near $9.81, the strikes shown on this page are snapped to the nearest listed SATL chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are SATL 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 SATL cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 122.10%), 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 SATL cash-secured put?
- The breakeven for the SATL 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 SATL market-implied 1-standard-deviation expected move is approximately 35.00%; 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 SATL?
- Cash-secured puts on SATL earn premium while a trader waits to acquire SATL stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning SATL.
- How does current SATL implied volatility affect this cash-secured put?
- SATL ATM IV is at 122.10% with IV rank near 20.91%, 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.