SERA Cash-Secured Put Strategy
SERA (Sera Prognostics, Inc.), in the Healthcare sector, (Medical - Diagnostics & Research industry), listed on NASDAQ.
Sera Prognostics, Inc. is a women's health diagnostics firm that focuses on creating, advancing, and bringing to market biomarker tests aimed at improving pregnancy results. Their primary product, the PreTRM test, is a blood-based biomarker assay specifically designed to predict the likelihood of spontaneous preterm birth in singleton pregnancies where no symptoms are yet present. Additionally, the company is cultivating a portfolio of potential tests for various other pregnancy-related conditions, such as preeclampsia, predicting time-to-birth at a molecular level, gestational diabetes mellitus, restricted fetal growth, stillbirth, and postpartum depression. Established in 2008, the organization's main operations are based in Salt Lake City, Utah.
SERA (Sera Prognostics, Inc.) trades in the Healthcare sector, specifically Medical - Diagnostics & Research, with a market capitalization of approximately $68.7M, a beta of 0.94 versus the broader market, a 52-week range of 1.56-3.95, average daily share volume of 51K, a public-listing history dating back to 2021, approximately 63 full-time employees. These structural characteristics shape how SERA stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.94 places SERA 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 SERA?
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 SERA snapshot
As of June 30, 2026, spot at $1.87, ATM IV 26.80%, IV rank 2.16%, expected move 7.68%. The cash-secured put on SERA 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 SERA specifically: SERA IV at 26.80% is on the cheap side of its 1-year range, which means a premium-selling SERA cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 7.68% (roughly $0.14 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 SERA expiries trade a higher absolute premium for lower per-day decay. Position sizing on SERA should anchor to the underlying notional of $1.87 per share and to the trader's directional view on SERA stock.
SERA cash-secured put setup
The SERA 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 SERA near $1.87, the first option leg uses a $1.78 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed SERA 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 SERA shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $1.78 | N/A |
SERA 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.
SERA cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on SERA. 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 SERA
Cash-secured puts on SERA earn premium while a trader waits to acquire SERA stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning SERA.
SERA thesis for this cash-secured put
The market-implied 1-standard-deviation range for SERA extends from approximately $1.73 on the downside to $2.01 on the upside. A SERA cash-secured put lets a trader earn premium while waiting to acquire SERA 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 SERA IV rank near 2.16% 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 SERA at 26.80%. As a Healthcare name, SERA options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to SERA-specific events.
SERA 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. SERA positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move SERA alongside the broader basket even when SERA-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on SERA carry tail risk when realized volatility exceeds the implied move; review historical SERA earnings reactions and macro stress periods before sizing. Always rebuild the position from current SERA chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on SERA?
- A cash-secured put on SERA is the cash-secured put strategy applied to SERA (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 SERA stock trading near $1.87, the strikes shown on this page are snapped to the nearest listed SERA chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are SERA 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 SERA cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 26.80%), 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 SERA cash-secured put?
- The breakeven for the SERA 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 SERA market-implied 1-standard-deviation expected move is approximately 7.68%; 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 SERA?
- Cash-secured puts on SERA earn premium while a trader waits to acquire SERA stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning SERA.
- How does current SERA implied volatility affect this cash-secured put?
- SERA ATM IV is at 26.80% with IV rank near 2.16%, 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.