SITE Cash-Secured Put Strategy
SITE (SiteOne Landscape Supply, Inc.), in the Industrials sector, (Industrial - Distribution industry), listed on NYSE.
SiteOne Landscape Supply, Inc. operates as a leading wholesale distributor of landscaping provisions throughout the United States and Canada. The company maintains an expansive inventory of approximately 135,000 distinct stock keeping units. Its diverse product offerings encompass irrigation components, such as controllers, valves, sprinkler heads, and pipes; turf and plant care items including fertilizers, grass seeds, and ice melt; and various pest and weed control solutions like herbicides, fungicides, and rodenticides. Furthermore, SiteOne provides a wide array of landscape accessories, ranging from mulches and soil amendments to drainage pipes, tools, and sod. Their nursery department offers an extensive selection of goods, including deciduous and evergreen shrubs, ornamental and shade trees, both field-grown and container-grown stock, roses, perennials, annuals, bulbs, and other plant species. Hardscaping materials, such as pavers, natural stones, and blocks, alongside outdoor lighting products including fixtures, LED lamps, wires, and transformers, are also key parts of their catalog.
SITE (SiteOne Landscape Supply, Inc.) trades in the Industrials sector, specifically Industrial - Distribution, with a market capitalization of approximately $5.17B, a trailing P/E of 34.10, a beta of 1.36 versus the broader market, a 52-week range of 100.52-168.56, average daily share volume of 848K, a public-listing history dating back to 2016, approximately 8K full-time employees. These structural characteristics shape how SITE stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.36 indicates SITE 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 SITE?
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 SITE snapshot
As of June 30, 2026, spot at $114.56, ATM IV 43.90%, IV rank 65.11%, expected move 12.59%. The cash-secured put on SITE 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 SITE specifically: SITE IV at 43.90% is mid-range versus its 1-year history, so the credit collected on a SITE cash-secured put sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 12.59% (roughly $14.42 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 SITE expiries trade a higher absolute premium for lower per-day decay. Position sizing on SITE should anchor to the underlying notional of $114.56 per share and to the trader's directional view on SITE stock.
SITE cash-secured put setup
The SITE 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 SITE near $114.56, the first option leg uses a $110.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed SITE 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 SITE shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $110.00 | $1.90 |
SITE cash-secured put risk and reward
- Net Premium / Debit
- +$190.00
- Max Profit (per contract)
- $190.00
- Max Loss (per contract)
- -$10,809.00
- Breakeven(s)
- $108.10
- Risk / Reward Ratio
- 0.018
Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.
SITE cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on SITE. 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 | -100.0% | -$10,809.00 |
| $25.34 | -77.9% | -$8,276.13 |
| $50.67 | -55.8% | -$5,743.25 |
| $76.00 | -33.7% | -$3,210.38 |
| $101.32 | -11.6% | -$677.50 |
| $126.65 | +10.6% | +$190.00 |
| $151.98 | +32.7% | +$190.00 |
| $177.31 | +54.8% | +$190.00 |
| $202.64 | +76.9% | +$190.00 |
| $227.97 | +99.0% | +$190.00 |
When traders use cash-secured put on SITE
Cash-secured puts on SITE earn premium while a trader waits to acquire SITE stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning SITE.
SITE thesis for this cash-secured put
The market-implied 1-standard-deviation range for SITE extends from approximately $100.14 on the downside to $128.98 on the upside. A SITE cash-secured put lets a trader earn premium while waiting to acquire SITE 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 SITE IV rank near 65.11% is mid-range against its 1-year distribution, so the IV signal is neutral; the cash-secured put thesis on SITE should anchor more to the directional view and the expected-move geometry. As a Industrials name, SITE options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to SITE-specific events.
SITE 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. SITE positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move SITE alongside the broader basket even when SITE-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on SITE carry tail risk when realized volatility exceeds the implied move; review historical SITE earnings reactions and macro stress periods before sizing. Always rebuild the position from current SITE chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on SITE?
- A cash-secured put on SITE is the cash-secured put strategy applied to SITE (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 SITE stock trading near $114.56, the strikes shown on this page are snapped to the nearest listed SITE chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are SITE 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 SITE cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 43.90%), the computed maximum profit is $190.00 per contract and the computed maximum loss is -$10,809.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a SITE cash-secured put?
- The breakeven for the SITE cash-secured put priced on this page is roughly $108.10 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 SITE market-implied 1-standard-deviation expected move is approximately 12.59%; 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 SITE?
- Cash-secured puts on SITE earn premium while a trader waits to acquire SITE stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning SITE.
- How does current SITE implied volatility affect this cash-secured put?
- SITE ATM IV is at 43.90% with IV rank near 65.11%, 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.